$0.76 EPS Expected for Commerce Bancshares, Inc. (CBSH) This Quarter
Analysts expect that Commerce Bancshares, Inc. (NASDAQ:CBSH) will post $0.76 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have provided estimates for Commerce Bancshares’ earnings, with the highest EPS estimate coming in at $0.78 and the lowest estimate coming in at $0.73. Commerce Bancshares posted earnings of $0.68 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 11.8%. The business is expected to issue its next quarterly earnings results on Wednesday, January 17th.
On average, analysts expect that Commerce Bancshares will report full-year earnings of $2.92 per share for the current fiscal year, with EPS estimates ranging from $2.87 to $2.99. For the next fiscal year, analysts forecast that the business will report earnings of $3.08 per share, with EPS estimates ranging from $3.00 to $3.24. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Commerce Bancshares.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. The firm had revenue of $304.83 million for the quarter, compared to analysts’ expectations of $317.28 million. During the same period in the prior year, the company earned $0.68 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis.
Several brokerages recently commented on CBSH. Zacks Investment Research lowered Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $60.00 price objective on shares of Commerce Bancshares in a report on Friday, October 6th. Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $51.00 price objective on shares of Commerce Bancshares in a report on Friday, September 15th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $61.00 price objective on shares of Commerce Bancshares in a report on Friday, August 11th. Five equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Commerce Bancshares presently has a consensus rating of “Hold” and an average target price of $56.63.
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Commerce Bancshares (NASDAQ CBSH) opened at 58.36 on Wednesday. The stock has a market cap of $5.93 billion, a PE ratio of 20.67 and a beta of 0.83. The stock’s 50 day moving average price is $56.49 and its 200-day moving average price is $56.07. Commerce Bancshares has a 12 month low of $46.57 and a 12 month high of $60.61.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 25th. Shareholders of record on Friday, September 8th were paid a dividend of $0.225 per share. The ex-dividend date was Thursday, September 7th. This represents a $0.90 annualized dividend and a yield of 1.54%. Commerce Bancshares’s payout ratio is currently 31.91%.
In other news, Director John R. Capps sold 10,000 shares of the company’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 transaction, the director now owns 12,828 shares of the company’s stock, valued at $703,230.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CBSH. BlackRock Inc. grew its stake in shares of Commerce Bancshares by 5,297.5% during the first quarter. BlackRock Inc. now owns 7,509,842 shares of the financial services provider’s stock valued at $421,752,000 after buying an additional 7,370,707 shares during the last quarter. Nuance Investments LLC grew its stake in shares of Commerce Bancshares by 814.4% during the second quarter. Nuance Investments LLC now owns 955,417 shares of the financial services provider’s stock valued at $54,296,000 after buying an additional 850,930 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Commerce Bancshares by 10.4% during the first quarter. Vanguard Group Inc. now owns 8,353,057 shares of the financial services provider’s stock valued at $469,107,000 after buying an additional 785,218 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Commerce Bancshares by 27.1% during the second quarter. Lazard Asset Management LLC now owns 1,448,515 shares of the financial services provider’s stock valued at $82,318,000 after buying an additional 308,460 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in shares of Commerce Bancshares by 53.0% during the second quarter. Schroder Investment Management Group now owns 831,785 shares of the financial services provider’s stock valued at $47,686,000 after buying an additional 288,009 shares during the last quarter. 62.22% of the stock is currently owned by hedge funds and other institutional investors.
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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