Commerce Bancshares (CBSH) to Release Earnings on Thursday

Commerce Bancshares (NASDAQ:CBSH) will be announcing its earnings results before the market opens on Thursday, October 17th. Analysts expect the company to announce earnings of $1.00 per share for the quarter.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.17. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The company had revenue of $414.90 million for the quarter, compared to the consensus estimate of $406.88 million. During the same period last year, the firm earned $0.97 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts expect Commerce Bancshares to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Commerce Bancshares Stock Up 0.7 %

NASDAQ:CBSH opened at $60.29 on Tuesday. Commerce Bancshares has a 52 week low of $40.91 and a 52 week high of $65.86. The stock has a market capitalization of $7.81 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 2.93 and a beta of 0.74. The stock’s 50-day moving average price is $61.02 and its 200-day moving average price is $57.86.

Commerce Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Thursday, September 5th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.08%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CBSH. StockNews.com lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. Jefferies Financial Group raised their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Finally, Wells Fargo & Company raised their price target on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.71.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 2,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $62.23, for a total value of $124,460.00. Following the completion of the transaction, the senior vice president now owns 23,381 shares in the company, valued at $1,454,999.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Commerce Bancshares news, CEO John W. Kemper sold 5,156 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $65.22, for a total value of $336,274.32. Following the completion of the transaction, the chief executive officer now owns 198,298 shares in the company, valued at $12,932,995.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $62.23, for a total transaction of $124,460.00. Following the completion of the transaction, the senior vice president now owns 23,381 shares of the company’s stock, valued at approximately $1,454,999.63. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,612 shares of company stock worth $3,184,609. Insiders own 3.20% of the company’s stock.

Commerce Bancshares Company Profile

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.