Commerce Bancshares, Inc. (NASDAQ:CBSH) – Research analysts at DA Davidson upped their Q1 2018 earnings per share (EPS) estimates for shares of Commerce Bancshares in a research note issued on Thursday. DA Davidson analyst J. Rulis now forecasts that the financial services provider will earn $0.79 per share for the quarter, up from their prior forecast of $0.70. DA Davidson also issued estimates for Commerce Bancshares’ Q2 2018 earnings at $0.78 EPS, Q3 2018 earnings at $0.81 EPS, Q4 2018 earnings at $0.82 EPS, FY2018 earnings at $3.20 EPS and FY2019 earnings at $3.40 EPS.
Several other equities research analysts have also recently weighed in on CBSH. Piper Jaffray Companies reiterated a “neutral” rating and issued a $60.00 price objective on shares of Commerce Bancshares in a report on Friday, October 6th. Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Friday, October 6th. BidaskClub cut Commerce Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, December 16th. Finally, Barclays reiterated a “hold” rating and issued a $55.00 price objective on shares of Commerce Bancshares in a report on Sunday, December 24th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $57.13.
In other news, insider V Raymond Stranghoener sold 6,399 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $58.40, for a total value of $373,701.60. Following the completion of the transaction, the insider now owns 47,112 shares in the company, valued at approximately $2,751,340.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Jonathan M. Kemper sold 55,000 shares of Commerce Bancshares stock in a transaction on Monday, December 11th. The shares were 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. Company insiders own 4.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new stake in shares of Commerce Bancshares in the 4th quarter worth $312,000. McCollum Christoferson Group LLC bought a new stake in shares of Commerce Bancshares in the 4th quarter worth $3,623,000. Schwab Charles Investment Management Inc. increased its holdings in shares of Commerce Bancshares by 11.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 564,339 shares of the financial services provider’s stock worth $31,513,000 after purchasing an additional 56,974 shares in the last quarter. Creative Planning increased its holdings in shares of Commerce Bancshares by 3.4% in the 4th quarter. Creative Planning now owns 109,643 shares of the financial services provider’s stock worth $6,122,000 after purchasing an additional 3,610 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Commerce Bancshares by 2.5% in the 4th quarter. Bank of Montreal Can now owns 35,974 shares of the financial services provider’s stock worth $2,009,000 after purchasing an additional 866 shares in the last quarter. 59.15% of the stock is owned by institutional investors and hedge funds.
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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.
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