Commerce Bancshares, Inc. (CBSH) to Post Q1 2018 Earnings of $0.75 Per Share, Jefferies Group Forecasts
Commerce Bancshares, Inc. (NASDAQ:CBSH) – Analysts at Jefferies Group issued their Q1 2018 earnings estimates for shares of Commerce Bancshares in a research report issued to clients and investors on Tuesday. Jefferies Group analyst C. Haire forecasts that the financial services provider will post earnings of $0.75 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $61.00 target price on the stock. Jefferies Group also issued estimates for Commerce Bancshares’ Q2 2018 earnings at $0.77 EPS, Q3 2018 earnings at $0.81 EPS and Q4 2018 earnings at $0.82 EPS.
Several other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Monday. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $60.00 price target on shares of Commerce Bancshares in a report on Friday, October 6th. Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $51.00 price target on shares of Commerce Bancshares in a report on Friday, September 15th. Finally, Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Commerce Bancshares in a report on Thursday, August 10th. Five research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $56.63.
Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.03). Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The company had revenue of $304.83 million for the quarter, compared to the consensus estimate of $317.28 million. During the same period last year, the firm posted $0.68 EPS. The company’s revenue was up 4.9% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 25th. Stockholders of record on Friday, September 8th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Thursday, September 7th. Commerce Bancshares’s dividend payout ratio is currently 32.64%.
In related news, Director John R. Capps sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $54.82, for a total value of $548,200.00. Following the transaction, the director now owns 12,828 shares in the company, valued at $703,230.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David W. Kemper sold 10,132 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $57.83, for a total value of $585,933.56. Following the completion of the transaction, the chairman now owns 1,270,757 shares in the company, valued at approximately $73,487,877.31. The disclosure for this sale can be found here. Insiders have sold 20,819 shares of company stock valued at $1,174,728 in the last three months. Insiders own 4.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Intl Fcstone Inc. increased its position in shares of Commerce Bancshares by 120.6% in the second quarter. Intl Fcstone Inc. now owns 24,892 shares of the financial services provider’s stock worth $1,415,000 after purchasing an additional 13,606 shares during the period. Cetera Investment Advisers bought a new position in shares of Commerce Bancshares in the second quarter worth $272,000. Ameritas Investment Partners Inc. increased its position in shares of Commerce Bancshares by 3.6% in the second quarter. Ameritas Investment Partners Inc. now owns 34,152 shares of the financial services provider’s stock worth $1,940,000 after purchasing an additional 1,191 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Commerce Bancshares by 64.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 57,616 shares of the financial services provider’s stock worth $3,274,000 after purchasing an additional 22,496 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Commerce Bancshares by 10.3% in the second quarter. The Manufacturers Life Insurance Company now owns 755,584 shares of the financial services provider’s stock worth $42,940,000 after purchasing an additional 70,376 shares during the period. Institutional investors own 62.20% of the company’s stock.
About Commerce Bancshares
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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