Commerce Bancshares (CBSH) to Release Earnings on Tuesday

Commerce Bancshares (NASDAQ:CBSH) is scheduled to be releasing its earnings data before the market opens on Tuesday, April 16th. Analysts expect Commerce Bancshares to post earnings of $0.79 per share for the quarter.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, January 18th. The financial services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.02. The business had revenue of $393.30 million during the quarter, compared to the consensus estimate of $386.34 million. Commerce Bancshares had a return on equity of 17.46% and a net margin of 24.41%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 EPS. On average, analysts expect Commerce Bancshares to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Commerce Bancshares Stock Up 2.0 %

CBSH opened at $54.00 on Tuesday. The business has a 50 day moving average price of $51.89 and a two-hundred day moving average price of $50.71. The company has a market cap of $7.01 billion, a PE ratio of 14.87 and a beta of 0.79. Commerce Bancshares has a 52 week low of $40.91 and a 52 week high of $56.75.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Thursday, March 7th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Wednesday, March 6th. Commerce Bancshares’s dividend payout ratio is presently 29.75%.

Insider Transactions at Commerce Bancshares

In other news, SVP Douglas D. Neff sold 614 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $50.25, for a total transaction of $30,853.50. Following the completion of the transaction, the senior vice president now directly owns 8,038 shares of the company’s stock, valued at approximately $403,909.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Douglas D. Neff sold 614 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $50.25, for a total value of $30,853.50. Following the sale, the senior vice president now owns 8,038 shares in the company, valued at approximately $403,909.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert S. Holmes sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.66, for a total value of $263,300.00. Following the completion of the sale, the executive vice president now owns 50,293 shares in the company, valued at approximately $2,648,429.38. The disclosure for this sale can be found here. In the last three months, insiders sold 14,321 shares of company stock valued at $752,387. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Commerce Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of the company. PCA Investment Advisory Services Inc. acquired a new stake in Commerce Bancshares during the 2nd quarter valued at $38,000. Quantbot Technologies LP purchased a new position in shares of Commerce Bancshares during the 2nd quarter worth $42,000. Altshuler Shaham Ltd purchased a new position in shares of Commerce Bancshares during the 4th quarter worth $47,000. Rockefeller Capital Management L.P. lifted its stake in shares of Commerce Bancshares by 429.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 863 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 700 shares during the period. Finally, Point72 Middle East FZE purchased a new position in shares of Commerce Bancshares during the 4th quarter worth $82,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Bank of America assumed coverage on Commerce Bancshares in a research note on Thursday, January 11th. They set a “neutral” rating and a $55.00 price objective for the company. Keefe, Bruyette & Woods upped their price objective on Commerce Bancshares from $54.00 to $56.00 and gave the company a “market perform” rating in a research note on Friday, January 19th. Finally, Morgan Stanley upped their price objective on Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $53.17.

About Commerce Bancshares

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.