Commerce Bancshares, Inc. (NASDAQ:CBSH) – Stock analysts at Piper Jaffray Companies lifted their Q3 2018 earnings per share estimates for shares of Commerce Bancshares in a research report issued on Thursday, September 20th, according to Zacks Investment Research. Piper Jaffray Companies analyst N. Race now forecasts that the financial services provider will post earnings per share of $0.98 for the quarter, up from their prior forecast of $0.97. Piper Jaffray Companies also issued estimates for Commerce Bancshares’ Q4 2018 earnings at $0.96 EPS, FY2018 earnings at $3.87 EPS, Q1 2019 earnings at $0.95 EPS, FY2019 earnings at $3.91 EPS and FY2020 earnings at $4.00 EPS.
Several other equities research analysts have also recently issued reports on CBSH. Barclays lifted their price objective on shares of Commerce Bancshares from $63.00 to $68.00 and gave the company an “equal weight” rating in a research report on Friday, July 13th. Wells Fargo & Co lifted their price objective on shares of Commerce Bancshares from $57.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, June 26th. ValuEngine cut shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. BidaskClub cut shares of Commerce Bancshares from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 4th. Finally, Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “strong-buy” rating and set a $78.00 price target on the stock in a research report on Tuesday, July 17th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $65.22.
Shares of Commerce Bancshares stock traded down $1.07 on Friday, hitting $61.64. 959,730 shares of the company traded hands, compared to its average volume of 476,801. The stock has a market cap of $7.04 billion, a P/E ratio of 22.25, a PEG ratio of 1.96 and a beta of 0.67. Commerce Bancshares has a 52 week low of $54.24 and a 52 week high of $72.55.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, October 11th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.07. The firm had revenue of $331.47 million for the quarter, compared to analysts’ expectations of $330.91 million. Commerce Bancshares had a net margin of 28.84% and a return on equity of 14.24%.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 24th. Investors of record on Friday, September 7th were given a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Thursday, September 6th. Commerce Bancshares’s dividend payout ratio is presently 33.94%.
In other Commerce Bancshares news, insider Daniel D. Callahan sold 8,000 shares of Commerce Bancshares stock in a transaction on Tuesday, July 17th. The shares were sold at an average price of $67.43, for a total transaction of $539,440.00. Following the completion of the transaction, the insider now directly owns 27,257 shares of the company’s stock, valued at $1,837,939.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David W. Kemper sold 9,465 shares of Commerce Bancshares stock in a transaction on Wednesday, July 18th. The stock was sold at an average price of $68.60, for a total transaction of $649,299.00. Following the transaction, the chief executive officer now directly owns 1,291,012 shares of the company’s stock, valued at $88,563,423.20. The disclosure for this sale can be found here. Insiders sold 69,931 shares of company stock worth $4,920,470 in the last 90 days. 4.00% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CBSH. Clarus Wealth Advisors purchased a new stake in shares of Commerce Bancshares during the second quarter valued at $200,000. Chesley Taft & Associates LLC purchased a new stake in shares of Commerce Bancshares during the third quarter valued at $203,000. Cigna Investments Inc. New purchased a new stake in shares of Commerce Bancshares during the first quarter valued at $204,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Commerce Bancshares during the first quarter valued at $204,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Commerce Bancshares during the second quarter valued at $206,000. 64.80% of the stock is owned by institutional investors.
About Commerce Bancshares
Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.
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