Commerce Bancshares, Inc. (NASDAQ:CBSH) to Post Q3 2024 Earnings of $0.97 Per Share, Zacks Research Forecasts

Commerce Bancshares, Inc. (NASDAQ:CBSH) – Research analysts at Zacks Research upped their Q3 2024 EPS estimates for Commerce Bancshares in a research report issued on Tuesday, September 24th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings per share of $0.97 for the quarter, up from their prior forecast of $0.94. The consensus estimate for Commerce Bancshares’ current full-year earnings is $3.96 per share. Zacks Research also issued estimates for Commerce Bancshares’ Q4 2024 earnings at $0.96 EPS, Q2 2025 earnings at $0.96 EPS, FY2025 earnings at $3.86 EPS, Q1 2026 earnings at $1.03 EPS and FY2026 earnings at $4.14 EPS.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.17. The company had revenue of $414.90 million for the quarter, compared to analysts’ expectations of $406.88 million. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. Commerce Bancshares’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 EPS.

Several other brokerages also recently issued reports on CBSH. Morgan Stanley raised their price target on Commerce Bancshares from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Jefferies Financial Group lifted their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company raised their price objective on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Commerce Bancshares has a consensus rating of “Hold” and a consensus target price of $60.00.

Commerce Bancshares Trading Up 0.5 %

Shares of NASDAQ CBSH opened at $60.05 on Thursday. The company has a market capitalization of $7.74 billion, a P/E ratio of 16.75, a P/E/G ratio of 10.03 and a beta of 0.75. Commerce Bancshares has a 12 month low of $40.91 and a 12 month high of $65.86. The stock has a 50 day moving average of $62.21 and a 200-day moving average of $57.21.

Institutional Investors Weigh In On Commerce Bancshares

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Commerce Bancshares by 2.1% in the first quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock valued at $672,004,000 after buying an additional 259,127 shares during the period. American Century Companies Inc. lifted its stake in shares of Commerce Bancshares by 7.4% in the 2nd quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock valued at $195,776,000 after purchasing an additional 240,938 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Commerce Bancshares by 19.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock valued at $115,453,000 after purchasing an additional 342,793 shares in the last quarter. Boston Trust Walden Corp grew its stake in Commerce Bancshares by 15.4% during the second quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider’s stock worth $70,339,000 after purchasing an additional 168,550 shares during the period. Finally, Schroder Investment Management Group grew its stake in Commerce Bancshares by 6.7% during the fourth quarter. Schroder Investment Management Group now owns 659,735 shares of the financial services provider’s stock worth $35,236,000 after purchasing an additional 41,220 shares during the period. 70.26% of the stock is owned by institutional investors.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, CEO John W. Kemper sold 5,156 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $65.22, for a total transaction of $336,274.32. Following the sale, the chief executive officer now directly owns 198,298 shares of the company’s stock, valued at approximately $12,932,995.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Patricia R. Kellerhals sold 2,000 shares of Commerce Bancshares stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the transaction, the senior vice president now directly owns 23,381 shares of the company’s stock, valued at $1,454,999.63. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John W. Kemper sold 5,156 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $65.22, for a total transaction of $336,274.32. Following the sale, the chief executive officer now directly owns 198,298 shares of the company’s stock, valued at approximately $12,932,995.56. The disclosure for this sale can be found here. Insiders sold a total of 49,612 shares of company stock worth $3,184,609 in the last quarter. 3.20% of the stock is owned by insiders.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Thursday, September 5th. Commerce Bancshares’s dividend payout ratio is currently 30.12%.

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.