Commerce Bancshares (CBSH) to Release Quarterly Earnings on Tuesday

Commerce Bancshares (NASDAQ:CBSHGet Rating) will issue its quarterly earnings data before the market opens on Tuesday, April 19th. Analysts expect the company to announce earnings of $0.86 per share for the quarter.

Commerce Bancshares (NASDAQ:CBSHGet Rating) last posted its quarterly earnings results on Wednesday, January 19th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.94. The business had revenue of $355.36 million during the quarter, compared to analysts’ expectations of $353.61 million. Commerce Bancshares had a net margin of 37.68% and a return on equity of 15.44%. During the same quarter last year, the company posted $1.06 earnings per share. On average, analysts expect Commerce Bancshares to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

NASDAQ CBSH opened at $70.34 on Friday. The company has a fifty day simple moving average of $71.04 and a two-hundred day simple moving average of $70.69. The stock has a market cap of $8.52 billion, a P/E ratio of 16.31 and a beta of 0.84. Commerce Bancshares has a 12-month low of $61.81 and a 12-month high of $77.32.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 23rd. Shareholders of record on Tuesday, March 8th were issued a $0.265 dividend. The ex-dividend date was Monday, March 7th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.51%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.26. Commerce Bancshares’s dividend payout ratio (DPR) is currently 24.59%.

A number of research analysts have issued reports on CBSH shares. Wells Fargo & Company raised shares of Commerce Bancshares from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $60.00 to $70.00 in a report on Monday, March 21st. StockNews.com initiated coverage on shares of Commerce Bancshares in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “strong-buy” rating and set a $78.00 price objective on the stock in a research note on Monday, January 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Commerce Bancshares has a consensus rating of “Hold” and a consensus price target of $71.17.

In related news, CFO Charles G. Kim sold 11,000 shares of the firm’s stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $71.86, for a total transaction of $790,460.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John W. Kemper sold 12,829 shares of the firm’s stock in a transaction on Wednesday, February 2nd. The shares were sold at an average price of $69.45, for a total transaction of $890,974.05. The disclosure for this sale can be found here. Insiders sold 52,476 shares of company stock worth $3,652,018 in the last quarter. Company insiders own 3.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. OLD Mission Capital LLC acquired a new stake in shares of Commerce Bancshares in the third quarter valued at about $476,000. Cetera Investment Advisers grew its position in shares of Commerce Bancshares by 8.1% in the fourth quarter. Cetera Investment Advisers now owns 4,847 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 362 shares during the period. MML Investors Services LLC grew its position in shares of Commerce Bancshares by 6.8% in the fourth quarter. MML Investors Services LLC now owns 4,488 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 284 shares during the period. Segall Bryant & Hamill LLC grew its position in shares of Commerce Bancshares by 5.0% in the fourth quarter. Segall Bryant & Hamill LLC now owns 4,131 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 195 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Commerce Bancshares in the fourth quarter worth about $237,000. Institutional investors and hedge funds own 63.95% of the company’s stock.

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.

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Earnings History for Commerce Bancshares (NASDAQ:CBSH)

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