FY2022 EPS Estimates for Commerce Bancshares, Inc. Increased by Jefferies Financial Group (NASDAQ:CBSH)

Commerce Bancshares, Inc. (NASDAQ:CBSHGet Rating) – Jefferies Financial Group increased their FY2022 earnings estimates for Commerce Bancshares in a report issued on Monday, January 9th. Jefferies Financial Group analyst C. Haire now forecasts that the financial services provider will post earnings of $4.01 per share for the year, up from their previous estimate of $3.82. The consensus estimate for Commerce Bancshares’ current full-year earnings is $3.84 per share. Jefferies Financial Group also issued estimates for Commerce Bancshares’ FY2023 earnings at $3.90 EPS.

Commerce Bancshares (NASDAQ:CBSHGet Rating) last posted its quarterly earnings data on Tuesday, October 18th. The financial services provider reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.02). Commerce Bancshares had a net margin of 31.86% and a return on equity of 16.45%. The firm had revenue of $384.90 million for the quarter, compared to the consensus estimate of $383.58 million. During the same quarter last year, the firm earned $1.00 EPS. The company’s revenue was up 9.5% on a year-over-year basis.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley cut their price objective on shares of Commerce Bancshares from $70.48 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, January 6th. Piper Sandler increased their target price on Commerce Bancshares from $69.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, November 16th. Finally, StockNews.com initiated coverage on Commerce Bancshares in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.

Commerce Bancshares Stock Performance

CBSH stock opened at $69.01 on Wednesday. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 18.63 and a beta of 0.77. The firm has a 50-day simple moving average of $69.48 and a two-hundred day simple moving average of $69.34. Commerce Bancshares has a one year low of $59.81 and a one year high of $72.60.

Institutional Investors Weigh In On Commerce Bancshares

A number of hedge funds have recently bought and sold shares of CBSH. Raymond James & Associates raised its stake in Commerce Bancshares by 8.6% during the 1st quarter. Raymond James & Associates now owns 58,372 shares of the financial services provider’s stock valued at $4,179,000 after acquiring an additional 4,611 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Commerce Bancshares by 14.7% in the first quarter. HighTower Advisors LLC now owns 9,253 shares of the financial services provider’s stock worth $659,000 after buying an additional 1,188 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of Commerce Bancshares by 27.2% in the first quarter. Natixis Advisors L.P. now owns 25,339 shares of the financial services provider’s stock worth $1,814,000 after purchasing an additional 5,417 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of Commerce Bancshares by 7.7% in the first quarter. Great West Life Assurance Co. Can now owns 59,984 shares of the financial services provider’s stock worth $4,414,000 after purchasing an additional 4,310 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Commerce Bancshares by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,110,800 shares of the financial services provider’s stock valued at $79,527,000 after acquiring an additional 12,655 shares during the period. Institutional investors and hedge funds own 64.12% of the company’s stock.

Insider Activity

In related news, Director David W. Kemper sold 2,104 shares of the company’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $74.22, for a total transaction of $156,158.88. Following the transaction, the director now owns 1,149,734 shares of the company’s stock, valued at $85,333,257.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Commerce Bancshares news, EVP Thomas J. Noack sold 715 shares of the company’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $70.35, for a total transaction of $50,300.25. Following the completion of the sale, the executive vice president now directly owns 21,439 shares in the company, valued at $1,508,233.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David W. Kemper sold 2,104 shares of the company’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $74.22, for a total value of $156,158.88. Following the sale, the director now owns 1,149,734 shares of the company’s stock, valued at $85,333,257.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,819 shares of company stock valued at $1,115,639. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, December 2nd were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Thursday, December 1st. Commerce Bancshares’s dividend payout ratio is currently 28.61%.

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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