Commerce Bancshares (CBSH) to Release Earnings on Tuesday

Commerce Bancshares (NASDAQ:CBSH) is scheduled to release its earnings data before the market opens on Tuesday, April 16th. Analysts expect Commerce Bancshares to post earnings of $0.79 per share for the quarter.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. Commerce Bancshares had a net margin of 24.41% and a return on equity of 17.46%. The business had revenue of $393.30 million for the quarter, compared to analyst estimates of $386.34 million. During the same period last year, the business posted $0.99 earnings per share. The firm’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts expect Commerce Bancshares to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Commerce Bancshares Stock Up 2.0 %

Shares of NASDAQ:CBSH opened at $54.00 on Tuesday. Commerce Bancshares has a 12 month low of $40.91 and a 12 month high of $56.75. The company’s fifty day simple moving average is $51.89 and its 200 day simple moving average is $50.71. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 14.87 and a beta of 0.79.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Thursday, March 7th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.00%. Commerce Bancshares’s payout ratio is 29.75%.

Analyst Ratings Changes

A number of brokerages recently commented on CBSH. Bank of America began coverage on shares of Commerce Bancshares in a report on Thursday, January 11th. They set a “neutral” rating and a $55.00 price objective on the stock. Morgan Stanley lifted their price target on shares of Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Commerce Bancshares from $54.00 to $56.00 and gave the company a “market perform” rating in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $53.17.

Insider Buying and Selling at Commerce Bancshares

In other news, Director Benjamin F. Rassieur III sold 1,785 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $53.83, for a total transaction of $96,086.55. Following the transaction, the director now directly owns 33,567 shares in the company, valued at approximately $1,806,911.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP John K. Handy sold 1,508 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $54.79, for a total transaction of $82,623.32. Following the transaction, the executive vice president now directly owns 46,524 shares in the company, valued at approximately $2,549,049.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Benjamin F. Rassieur III sold 1,785 shares of Commerce Bancshares stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $53.83, for a total transaction of $96,086.55. Following the sale, the director now directly owns 33,567 shares of the company’s stock, valued at approximately $1,806,911.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,321 shares of company stock worth $752,387. Insiders own 3.10% of the company’s stock.

Institutional Trading of Commerce Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of CBSH. Moneta Group Investment Advisors LLC boosted its holdings in shares of Commerce Bancshares by 102,920.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 133,790,172 shares of the financial services provider’s stock worth $9,107,097,000 after buying an additional 133,660,305 shares during the period. Morgan Stanley boosted its holdings in Commerce Bancshares by 192.6% in the 4th quarter. Morgan Stanley now owns 1,995,152 shares of the financial services provider’s stock valued at $135,810,000 after purchasing an additional 1,313,291 shares during the period. State Street Corp boosted its holdings in Commerce Bancshares by 18.9% in the 2nd quarter. State Street Corp now owns 7,736,375 shares of the financial services provider’s stock valued at $376,761,000 after purchasing an additional 1,227,825 shares during the period. Norges Bank bought a new stake in Commerce Bancshares in the 4th quarter valued at about $77,332,000. Finally, Vanguard Group Inc. boosted its holdings in Commerce Bancshares by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 12,372,518 shares of the financial services provider’s stock valued at $660,816,000 after purchasing an additional 558,017 shares during the period. Institutional investors own 70.26% of the company’s stock.

About Commerce Bancshares

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.