$0.94 Earnings Per Share Expected for Commerce Bancshares, Inc. (NASDAQ:CBSH) This Quarter

Analysts expect that Commerce Bancshares, Inc. (NASDAQ:CBSH) will post earnings per share (EPS) of $0.94 for the current quarter, according to Zacks. Three analysts have provided estimates for Commerce Bancshares’ earnings, with the highest EPS estimate coming in at $1.00 and the lowest estimate coming in at $0.88. Commerce Bancshares reported earnings of $1.06 per share during the same quarter last year, which suggests a negative year over year growth rate of 11.3%. The business is expected to report its next quarterly earnings report before the market opens on Wednesday, January 19th.

According to Zacks, analysts expect that Commerce Bancshares will report full-year earnings of $4.34 per share for the current financial year, with EPS estimates ranging from $4.28 to $4.38. For the next financial year, analysts expect that the company will post earnings of $3.45 per share, with EPS estimates ranging from $3.22 to $3.71. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Commerce Bancshares.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Monday, October 18th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.06. The business had revenue of $351.54 million during the quarter, compared to analyst estimates of $349.87 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 38.97%. During the same quarter in the previous year, the company posted $1.06 earnings per share.

A number of research firms have commented on CBSH. Jefferies Financial Group decreased their target price on shares of Commerce Bancshares from $75.00 to $67.00 and set a “hold” rating on the stock in a research note on Monday, October 11th. Morgan Stanley decreased their price objective on shares of Commerce Bancshares from $66.00 to $62.86 and set an “underweight” rating on the stock in a research report on Wednesday, December 1st. Finally, Zacks Investment Research downgraded shares of Commerce Bancshares from a “buy” rating to a “hold” rating and set a $72.00 target price for the company. in a report on Wednesday, December 8th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Sell” and a consensus price target of $67.97.

Shares of CBSH stock traded up $1.43 during trading hours on Friday, reaching $74.35. 18,644 shares of the company traded hands, compared to its average volume of 426,241. The firm has a 50-day moving average price of $70.56 and a 200 day moving average price of $70.82. The company has a market cap of $9.07 billion, a P/E ratio of 16.47 and a beta of 0.91. Commerce Bancshares has a 12-month low of $61.81 and a 12-month high of $79.10.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 17th. Shareholders of record on Thursday, December 2nd were issued a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Wednesday, December 1st. Commerce Bancshares’s dividend payout ratio (DPR) is currently 23.71%.

In related news, SVP Paula S. Petersen sold 1,282 shares of the stock in a transaction that occurred on Monday, December 6th. The stock was sold at an average price of $69.45, for a total transaction of $89,034.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John K. Handy sold 2,125 shares of the firm’s stock in a transaction that occurred on Tuesday, November 2nd. The shares were sold at an average price of $72.84, for a total value of $154,785.00. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. increased its position in Commerce Bancshares by 141.1% in the second quarter. Meeder Asset Management Inc. now owns 463 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 271 shares during the last quarter. Tobam grew its stake in shares of Commerce Bancshares by 264.5% in the 2nd quarter. Tobam now owns 740 shares of the financial services provider’s stock worth $55,000 after buying an additional 537 shares in the last quarter. SouthState Corp purchased a new position in shares of Commerce Bancshares in the 3rd quarter worth $59,000. Manchester Capital Management LLC increased its holdings in shares of Commerce Bancshares by 11,562.5% in the 3rd quarter. Manchester Capital Management LLC now owns 933 shares of the financial services provider’s stock worth $65,000 after buying an additional 925 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Commerce Bancshares by 130.5% during the 2nd quarter. Van ECK Associates Corp now owns 1,201 shares of the financial services provider’s stock valued at $90,000 after buying an additional 680 shares in the last quarter. Hedge funds and other institutional investors own 63.26% of the company’s stock.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc operates as a bank holding company for Commerce Bank. It provides general banking services, such as retail, corporate, investment, trust, and asset management products and services to individuals and businesses. The firm operates through the following business segments: Consumer, Commercial and Wealth.

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

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