Q1 2022 Earnings Estimate for Commerce Bancshares, Inc. Issued By Jefferies Financial Group (NASDAQ:CBSH)

Commerce Bancshares, Inc. (NASDAQ:CBSHGet Rating) – Stock analysts at Jefferies Financial Group upped their Q1 2022 earnings per share estimates for shares of Commerce Bancshares in a research note issued on Monday, April 11th. Jefferies Financial Group analyst C. Haire now forecasts that the financial services provider will post earnings of $0.85 per share for the quarter, up from their previous estimate of $0.83. Jefferies Financial Group also issued estimates for Commerce Bancshares’ Q2 2022 earnings at $1.00 EPS, Q3 2022 earnings at $1.04 EPS, Q4 2022 earnings at $1.01 EPS, FY2022 earnings at $3.90 EPS, Q1 2023 earnings at $0.94 EPS, Q2 2023 earnings at $0.99 EPS, Q3 2023 earnings at $1.00 EPS, Q4 2023 earnings at $0.97 EPS and FY2023 earnings at $3.90 EPS.

Other analysts have also issued reports about the company. Wells Fargo & Company upgraded Commerce Bancshares from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $60.00 to $70.00 in a report on Monday, March 21st. StockNews.com began coverage on Commerce Bancshares in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research raised Commerce Bancshares from a “hold” rating to a “strong-buy” rating and set a $78.00 target price for the company in a research report on Monday, January 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $71.17.

Shares of Commerce Bancshares stock opened at $70.56 on Tuesday. The business’s fifty day simple moving average is $71.04 and its 200 day simple moving average is $70.63. The firm has a market capitalization of $8.55 billion, a P/E ratio of 16.37 and a beta of 0.84. Commerce Bancshares has a 12 month low of $61.81 and a 12 month high of $77.32.

Commerce Bancshares (NASDAQ:CBSHGet Rating) last issued its quarterly earnings results on Wednesday, January 19th. The financial services provider reported $0.94 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.94. The business had revenue of $355.36 million for the quarter, compared to analyst estimates of $353.61 million. Commerce Bancshares had a return on equity of 15.44% and a net margin of 37.68%. During the same period last year, the company posted $1.06 earnings per share.

A number of institutional investors have recently bought and sold shares of the stock. Wedge Capital Management L L P NC purchased a new position in Commerce Bancshares during the first quarter worth about $208,000. Strategy Asset Managers LLC purchased a new position in Commerce Bancshares during the first quarter worth about $255,000. Telemus Capital LLC grew its position in Commerce Bancshares by 18.0% during the first quarter. Telemus Capital LLC now owns 10,340 shares of the financial services provider’s stock worth $740,000 after buying an additional 1,577 shares in the last quarter. Confluence Investment Management LLC grew its position in Commerce Bancshares by 1.4% during the first quarter. Confluence Investment Management LLC now owns 281,443 shares of the financial services provider’s stock worth $20,148,000 after buying an additional 3,876 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its position in Commerce Bancshares by 4.7% during the fourth quarter. First Citizens Bank & Trust Co. now owns 4,322 shares of the financial services provider’s stock worth $297,000 after buying an additional 195 shares in the last quarter. Institutional investors and hedge funds own 63.95% of the company’s stock.

In other news, Director David W. Kemper sold 9,500 shares of Commerce Bancshares stock in a transaction on Tuesday, January 25th. The stock was sold at an average price of $68.46, for a total value of $650,370.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Douglas D. Neff sold 478 shares of Commerce Bancshares stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $71.39, for a total value of $34,124.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,476 shares of company stock valued at $3,652,018. 3.20% of the stock is owned by company insiders.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 23rd. Shareholders of record on Tuesday, March 8th were given a $0.265 dividend. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.26. This represents a $1.06 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Monday, March 7th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 24.59%.

Commerce Bancshares Company Profile (Get Rating)

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.

Further Reading

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

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