Commerce Bancshares, Inc. (NASDAQ:CBSH) Expected to Post Quarterly Sales of $359.40 Million

Equities research analysts expect Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Rating) to announce $359.40 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Commerce Bancshares’ earnings, with estimates ranging from $353.50 million to $370.90 million. Commerce Bancshares reported sales of $347.13 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.5%. The company is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Commerce Bancshares will report full-year sales of $1.44 billion for the current financial year, with estimates ranging from $1.41 billion to $1.48 billion. For the next year, analysts expect that the company will post sales of $1.55 billion, with estimates ranging from $1.52 billion to $1.57 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Commerce Bancshares.

Commerce Bancshares (NASDAQ:CBSH – Get Rating) last issued its quarterly earnings results on Tuesday, April 19th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $340.60 million during the quarter, compared to analyst estimates of $348.21 million. Commerce Bancshares had a return on equity of 15.45% and a net margin of 36.83%. Commerce Bancshares’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company earned $1.06 EPS.

CBSH has been the subject of several analyst reports. Wells Fargo & Company raised Commerce Bancshares from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $60.00 to $70.00 in a report on Monday, March 21st. StockNews.com assumed coverage on Commerce Bancshares in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research lowered Commerce Bancshares from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a research report on Monday, April 25th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $68.72.

Shares of CBSH stock opened at $66.94 on Friday. The stock’s fifty day moving average price is $70.63 and its 200 day moving average price is $70.64. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 15.85 and a beta of 0.82. Commerce Bancshares has a 1-year low of $61.81 and a 1-year high of $76.50.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 22nd. Investors of record on Tuesday, June 7th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Monday, June 6th. Commerce Bancshares’s payout ratio is currently 25.09%.

In other Commerce Bancshares news, CFO Charles G. Kim sold 11,000 shares of the firm’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $71.86, for a total value of $790,460.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Douglas D. Neff sold 478 shares of Commerce Bancshares stock in a transaction that occurred 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. In the last three months, insiders have sold 14,666 shares of company stock worth $1,051,669. Corporate insiders own 3.20% of the company’s stock.

Large investors have recently made changes to their positions in the business. National Bank of Canada FI purchased a new position in shares of Commerce Bancshares during the 4th quarter valued at $29,000. Allspring Global Investments Holdings LLC acquired a new position in Commerce Bancshares during the 4th quarter worth $41,000. Atticus Wealth Management LLC acquired a new position in shares of Commerce Bancshares during the fourth quarter valued at about $42,000. Quadrant Capital Group LLC raised its position in shares of Commerce Bancshares by 81.8% during the first quarter. Quadrant Capital Group LLC now owns 651 shares of the financial services provider’s stock valued at $47,000 after buying an additional 293 shares during the last quarter. Finally, Signaturefd LLC raised its position in Commerce Bancshares by 36.0% in the first quarter. Signaturefd LLC now owns 672 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 178 shares in the last quarter. 67.85% of the stock is currently owned by institutional investors.

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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