Commerce Bancshares (CBSH) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Commerce Bancshares (NASDAQ:CBSH) released its quarterly earnings data on Thursday. The financial services provider reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.12, Bloomberg Earnings reports. Commerce Bancshares had a return on equity of 13.21% and a net margin of 27.16%. The business had revenue of $312.58 million for the quarter, compared to analysts’ expectations of $310.64 million. During the same quarter in the previous year, the business posted $0.68 EPS.

NASDAQ:CBSH opened at $62.74 on Friday. The company has a market cap of $6,749.14, a price-to-earnings ratio of 20.70, a P/E/G ratio of 2.32 and a beta of 0.69. Commerce Bancshares has a twelve month low of $51.90 and a twelve month high of $64.21.

The business also recently declared a quarterly dividend, which was paid on Monday, March 26th. Shareholders of record on Friday, March 9th were given a dividend of $0.235 per share. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, March 8th. This represents a $0.94 annualized dividend and a dividend yield of 1.50%. Commerce Bancshares’s payout ratio is 33.94%.



In other Commerce Bancshares news, Vice Chairman Jonathan M. Kemper sold 33,424 shares of the company’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $61.04, for a total value of $2,040,200.96. Following the transaction, the insider now directly owns 1,059,102 shares of the company’s stock, valued at approximately $64,647,586.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael J. Petrie sold 617 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $58.95, for a total value of $36,372.15. Following the completion of the transaction, the senior vice president now directly owns 10,427 shares in the company, valued at $614,671.65. The disclosure for this sale can be found here. Insiders have sold a total of 168,774 shares of company stock worth $9,878,981 in the last ninety days. Insiders own 4.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Bank of The Ozarks lifted its position in shares of Commerce Bancshares by 5.4% during the 4th quarter. Bank of The Ozarks now owns 21,101 shares of the financial services provider’s stock worth $1,178,000 after buying an additional 1,074 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Commerce Bancshares by 49.9% during the 4th quarter. Schroder Investment Management Group now owns 1,266,154 shares of the financial services provider’s stock worth $70,702,000 after buying an additional 421,526 shares during the last quarter. State of Wisconsin Investment Board lifted its position in shares of Commerce Bancshares by 5.4% during the 4th quarter. State of Wisconsin Investment Board now owns 19,336 shares of the financial services provider’s stock worth $1,080,000 after buying an additional 988 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of Commerce Bancshares during the 4th quarter worth $652,000. Finally, UMB Bank N A MO lifted its position in shares of Commerce Bancshares by 5.5% during the 4th quarter. UMB Bank N A MO now owns 192,541 shares of the financial services provider’s stock worth $10,751,000 after buying an additional 9,955 shares during the last quarter. Institutional investors and hedge funds own 62.75% of the company’s stock.

Several equities analysts have recently weighed in on CBSH shares. ValuEngine upgraded Commerce Bancshares from a “hold” rating to a “buy” rating in a report on Friday, March 23rd. BidaskClub cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Monday, January 8th. Keefe, Bruyette & Woods upgraded Commerce Bancshares from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $54.00 to $60.00 in a research note on Tuesday, February 27th. Finally, Barclays cut their target price on Commerce Bancshares from $63.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $59.22.

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Commerce Bancshares Company Profile

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.

Earnings History for Commerce Bancshares (NASDAQ:CBSH)

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