Commerce Bancshares, Inc. (NASDAQ:CBSH) Forecasted to Earn FY2022 Earnings of $3.80 Per Share

Commerce Bancshares, Inc. (NASDAQ:CBSHGet Rating) – Equities researchers at DA Davidson dropped their FY2022 earnings per share estimates for Commerce Bancshares in a research note issued on Wednesday, April 20th. DA Davidson analyst J. Rulis now forecasts that the financial services provider will post earnings per share of $3.80 for the year, down from their previous estimate of $3.97. DA Davidson also issued estimates for Commerce Bancshares’ FY2023 earnings at $4.10 EPS.

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

Shares of CBSH opened at $72.98 on Friday. The firm’s 50 day moving average is $71.05 and its 200-day moving average is $70.78. The stock has a market capitalization of $8.84 billion, a P/E ratio of 16.93 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 announced its quarterly earnings data on Tuesday, April 19th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.09. The company had revenue of $340.60 million for the quarter, compared to analysts’ expectations of $348.21 million. Commerce Bancshares had a net margin of 37.68% and a return on equity of 15.44%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 EPS.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. National Bank of Canada FI acquired a new stake in shares of Commerce Bancshares in the fourth quarter worth $29,000. Atticus Wealth Management LLC acquired a new stake in shares of Commerce Bancshares in the fourth quarter worth $42,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Commerce Bancshares in the fourth quarter worth $41,000. Point72 Hong Kong Ltd lifted its stake in shares of Commerce Bancshares by 274.0% in the fourth quarter. Point72 Hong Kong Ltd now owns 819 shares of the financial services provider’s stock worth $56,000 after buying an additional 600 shares during the last quarter. Finally, SouthState Corp acquired a new stake in shares of Commerce Bancshares in the third quarter worth $59,000. Hedge funds and other institutional investors own 63.95% of the company’s stock.

In other Commerce Bancshares news, SVP David L. Roller sold 1,000 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, January 25th. The shares were sold at an average price of $68.35, for a total value of $68,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Patricia R. Kellerhals sold 491 shares of Commerce Bancshares stock in a transaction that occurred on Monday, February 7th. The shares were sold at an average price of $70.10, for a total transaction of $34,419.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,476 shares of company stock valued at $3,652,018. 3.20% of the stock is currently owned by corporate insiders.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 22nd. Investors of record on Tuesday, June 7th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, June 6th. Commerce Bancshares’s dividend payout ratio 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.

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

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