FIG Partners Comments on Commerce Bancshares, Inc.’s FY2018 Earnings (CBSH)

Commerce Bancshares, Inc. (NASDAQ:CBSH) – Equities research analysts at FIG Partners lifted their FY2018 earnings per share (EPS) estimates for Commerce Bancshares in a note issued to investors on Thursday. FIG Partners analyst J. Rodis now anticipates that the financial services provider will post earnings of $3.40 per share for the year, up from their previous forecast of $3.25. FIG Partners also issued estimates for Commerce Bancshares’ FY2019 earnings at $3.60 EPS.

CBSH has been the topic of a number of other research reports. Zacks Investment Research cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. BidaskClub upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Barclays reiterated a “hold” rating and issued a $55.00 price target on shares of Commerce Bancshares in a report on Sunday, December 24th. Piper Jaffray Companies reiterated a “hold” rating and issued a $58.00 price target on shares of Commerce Bancshares in a report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $54.00 price target on shares of Commerce Bancshares in a report on Friday. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $57.13.

Commerce Bancshares (NASDAQ:CBSH) traded up $1.28 on Monday, hitting $59.71. The stock had a trading volume of 642,500 shares, compared to its average volume of 497,069. The company has a market capitalization of $6,365.98, a PE ratio of 20.60, a price-to-earnings-growth ratio of 2.27 and a beta of 0.80. Commerce Bancshares has a 1 year low of $51.90 and a 1 year high of $60.61.

In other Commerce Bancshares news, insider V Raymond Stranghoener sold 6,399 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $58.40, for a total transaction of $373,701.60. Following the completion of the sale, the insider now owns 47,112 shares in the company, valued at $2,751,340.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $55.06, for a total value of $3,028,300.00. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. M&T Bank Corp lifted its holdings in shares of Commerce Bancshares by 1.0% during the 2nd quarter. M&T Bank Corp now owns 6,179 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 62 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Commerce Bancshares by 2.4% during the 2nd quarter. Advisor Group Inc. now owns 5,023 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 120 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Commerce Bancshares by 3.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 16,605 shares of the financial services provider’s stock valued at $944,000 after purchasing an additional 600 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Commerce Bancshares by 0.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 123,834 shares of the financial services provider’s stock valued at $7,036,000 after purchasing an additional 775 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Commerce Bancshares by 2.5% during the 4th quarter. Bank of Montreal Can now owns 35,974 shares of the financial services provider’s stock valued at $2,009,000 after purchasing an additional 866 shares during the last quarter. Institutional investors own 59.19% of the company’s stock.

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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.

Earnings History and Estimates for Commerce Bancshares (NASDAQ:CBSH)

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