Zacks: Analysts Expect Commerce Bancshares, Inc. (CBSH) Will Post Earnings of $0.78 Per Share

Brokerages expect Commerce Bancshares, Inc. (NASDAQ:CBSH) to post earnings per share of $0.78 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Commerce Bancshares’ earnings, with the highest EPS estimate coming in at $0.82 and the lowest estimate coming in at $0.70. Commerce Bancshares posted earnings per share of $0.65 during the same quarter last year, which would suggest a positive year-over-year growth rate of 20%. The business is scheduled to report its next earnings results on Thursday, April 12th.

According to Zacks, analysts expect that Commerce Bancshares will report full-year earnings of $3.32 per share for the current financial year, with EPS estimates ranging from $2.92 to $3.50. For the next year, analysts anticipate that the company will report earnings of $3.49 per share, with EPS estimates ranging from $3.10 to $3.67. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Commerce Bancshares.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. Commerce Bancshares had a return on equity of 12.22% and a net margin of 25.27%. The business had revenue of $314.22 million during the quarter, compared to analyst estimates of $312.98 million.

A number of equities research analysts have commented on the company. Barclays restated a “hold” rating and set a $63.00 price objective on shares of Commerce Bancshares in a research report on Sunday. Keefe, Bruyette & Woods restated a “sell” rating and set a $54.00 price objective on shares of Commerce Bancshares in a research report on Friday. BidaskClub lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Piper Jaffray Companies restated a “hold” rating and set a $58.00 price objective on shares of Commerce Bancshares in a research report on Tuesday, January 9th. Finally, Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Monday, January 8th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $57.13.

In other news, insider V Raymond Stranghoener sold 6,399 shares of the firm’s stock in a transaction dated 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 directly owns 47,112 shares of the company’s stock, valued at approximately $2,751,340.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the firm’s stock in a transaction dated 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 owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of CBSH. SignalPoint Asset Management LLC bought a new position in shares of Commerce Bancshares in the 3rd quarter valued at approximately $226,000. Wedbush Securities Inc. bought a new position in shares of Commerce Bancshares in the 3rd quarter valued at approximately $229,000. Advisor Group Inc. raised its stake in shares of Commerce Bancshares by 2.4% in the 2nd quarter. Advisor Group Inc. now owns 5,023 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 120 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Commerce Bancshares in the 2nd quarter valued at approximately $272,000. Finally, GSA Capital Partners LLP bought a new position in shares of Commerce Bancshares in the 3rd quarter valued at approximately $283,000. 59.19% of the stock is owned by institutional investors.

Commerce Bancshares (CBSH) opened at $59.17 on Tuesday. Commerce Bancshares has a 1 year low of $51.90 and a 1 year high of $60.61. The firm has a market capitalization of $6,365.98, a price-to-earnings ratio of 20.42, a P/E/G ratio of 2.27 and a beta of 0.80.

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

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