Zacks Research Issues Pessimistic Estimate for CBSH Earnings

Commerce Bancshares, Inc. (NASDAQ:CBSHFree Report) – Stock analysts at Zacks Research dropped their FY2024 earnings estimates for shares of Commerce Bancshares in a research report issued on Monday, January 13th. Zacks Research analyst R. Department now anticipates that the financial services provider will earn $3.92 per share for the year, down from their previous forecast of $3.97. The consensus estimate for Commerce Bancshares’ current full-year earnings is $3.95 per share. Zacks Research also issued estimates for Commerce Bancshares’ Q4 2024 earnings at $0.92 EPS, Q1 2025 earnings at $0.87 EPS, Q2 2025 earnings at $0.92 EPS, Q3 2025 earnings at $0.94 EPS, Q4 2025 earnings at $0.95 EPS, FY2025 earnings at $3.69 EPS, Q1 2026 earnings at $0.99 EPS, Q2 2026 earnings at $0.97 EPS, Q3 2026 earnings at $0.98 EPS, Q4 2026 earnings at $1.01 EPS and FY2026 earnings at $3.94 EPS.

A number of other research analysts also recently issued reports on the company. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $66.00 to $64.00 in a research note on Monday, September 30th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday. Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company upped their target price on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Finally, Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $66.75.

Check Out Our Latest Stock Analysis on CBSH

Commerce Bancshares Stock Up 2.8 %

Shares of CBSH opened at $63.46 on Wednesday. The business has a 50-day simple moving average of $67.47 and a two-hundred day simple moving average of $63.22. Commerce Bancshares has a 52 week low of $47.09 and a 52 week high of $72.75. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 2.92 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSHGet Free Report) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The firm had revenue of $421.38 million during the quarter, compared to analyst estimates of $412.85 million.

Hedge Funds Weigh In On Commerce Bancshares

Several institutional investors have recently bought and sold shares of CBSH. Los Angeles Capital Management LLC increased its holdings in shares of Commerce Bancshares by 7,407.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock worth $21,556,000 after buying an additional 358,066 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Commerce Bancshares by 19.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock worth $115,453,000 after acquiring an additional 342,793 shares in the last quarter. Millennium Management LLC grew its position in Commerce Bancshares by 168.3% in the second quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider’s stock worth $19,081,000 after acquiring an additional 214,582 shares in the last quarter. Geode Capital Management LLC increased its stake in Commerce Bancshares by 7.3% during the third quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock worth $142,951,000 after acquiring an additional 163,782 shares during the last quarter. Finally, NFJ Investment Group LLC raised its position in Commerce Bancshares by 17.7% during the third quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock valued at $42,006,000 after purchasing an additional 106,316 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, SVP David L. Roller sold 890 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $72.27, for a total transaction of $64,320.30. Following the completion of the transaction, the senior vice president now owns 30,949 shares in the company, valued at $2,236,684.23. This trade represents a 2.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kevin G. Barth sold 1,582 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total value of $106,848.28. Following the completion of the sale, the executive vice president now directly owns 65,409 shares in the company, valued at approximately $4,417,723.86. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,398 shares of company stock worth $2,504,665. Insiders own 3.20% of the company’s stock.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.27 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $1.08 annualized dividend and a yield of 1.70%. Commerce Bancshares’s payout ratio is 28.13%.

Commerce Bancshares Company Profile

(Get Free Report)

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.

See Also

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

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