Commerce Bancshares, Inc. (CBSH) Set to Announce Quarterly Earnings on Thursday
Commerce Bancshares, Inc. (NASDAQ:CBSH) is scheduled to issue its quarterly earnings data on Thursday, October 12th. Analysts expect the company to announce earnings of $0.74 per share for the quarter.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, July 13th. The financial services provider reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.05. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The company had revenue of $305.89 million for the quarter, compared to analyst estimates of $309.44 million. During the same quarter last year, the business earned $0.70 EPS. Commerce Bancshares’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts expect Commerce Bancshares to post $2.94 EPS for the current fiscal year and $3.11 EPS for the next fiscal year.
Commerce Bancshares, Inc. (NASDAQ CBSH) opened at 57.57 on Thursday. Commerce Bancshares, Inc. has a 52 week low of $47.64 and a 52 week high of $60.61. The stock has a market cap of $5.85 billion, a P/E ratio of 20.86 and a beta of 0.83. The stock has a 50 day moving average of $55.41 and a 200-day moving average of $55.85.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 25th. Investors of record on Friday, September 8th were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, September 7th. Commerce Bancshares’s payout ratio is presently 32.64%.
In other Commerce Bancshares news, Chairman David W. Kemper sold 10,132 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $57.83, for a total value of $585,933.56. Following the completion of the sale, the chairman now directly owns 1,270,757 shares of the company’s stock, valued at $73,487,877.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John R. Capps sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $54.82, for a total transaction of $548,200.00. Following the completion of the sale, the director now directly owns 12,828 shares of the company’s stock, valued at $703,230.96. The disclosure for this sale can be found here. Insiders sold 20,819 shares of company stock valued at $1,174,728 over the last three months. Insiders own 4.30% of the company’s stock.
A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $51.00 price objective on shares of Commerce Bancshares in a research report on Friday, September 15th. Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 price objective on shares of Commerce Bancshares in a research report on Friday, August 11th. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Commerce Bancshares in a research report on Thursday, August 10th. Finally, UBS AG downgraded shares of Commerce Bancshares to an “underperform” rating in a research report on Thursday, August 10th. Five analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Commerce Bancshares presently has an average rating of “Hold” and a consensus price target of $55.25.
Commerce Bancshares Company Profile
Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
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