Zacks: Analysts Anticipate Commerce Bancshares, Inc. (CBSH) to Post $0.89 Earnings Per Share

Wall Street analysts predict that Commerce Bancshares, Inc. (NASDAQ:CBSH) will post earnings per share of $0.89 for the current quarter, Zacks reports. Six analysts have made estimates for Commerce Bancshares’ earnings. The highest EPS estimate is $0.90 and the lowest is $0.87. Commerce Bancshares reported earnings per share of $0.71 in the same quarter last year, which indicates a positive year-over-year growth rate of 25.4%. The company is expected to issue its next earnings report on Thursday, July 12th.

According to Zacks, analysts expect that Commerce Bancshares will report full year earnings of $3.61 per share for the current financial year, with EPS estimates ranging from $3.55 to $3.65. For the next financial year, analysts forecast that the firm will post earnings of $3.75 per share, with EPS estimates ranging from $3.68 to $3.85. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Commerce Bancshares.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, April 12th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.12. Commerce Bancshares had a net margin of 27.16% and a return on equity of 13.21%. The company had revenue of $312.58 million during the quarter, compared to analysts’ expectations of $310.64 million. During the same quarter in the previous year, the business posted $0.68 earnings per share.



Several research analysts have recently issued reports on the company. BidaskClub downgraded Commerce Bancshares from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 22nd. Bank of America downgraded Commerce Bancshares from a “neutral” rating to an “underperform” rating and set a $64.00 price objective for the company. in a research note on Tuesday, May 15th. They noted that the move was a valuation call. ValuEngine downgraded Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, April 18th. Morgan Stanley upped their price objective on Commerce Bancshares from $57.00 to $59.00 and gave the company an “underweight” rating in a research note on Tuesday, April 17th. Finally, Barclays upped their price objective on Commerce Bancshares from $58.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, April 13th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $60.70.

NASDAQ CBSH traded down $0.27 during trading on Tuesday, hitting $64.87. 177,820 shares of the company’s stock were exchanged, compared to its average volume of 436,729. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.95 and a beta of 0.69. Commerce Bancshares has a fifty-two week low of $51.90 and a fifty-two week high of $66.26.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 25th. Shareholders of record on Friday, June 8th will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, June 7th. Commerce Bancshares’s dividend payout ratio is presently 33.94%.

In other Commerce Bancshares news, VP Daniel D. Callahan sold 1,057 shares of the stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $62.96, for a total transaction of $66,548.72. Following the completion of the sale, the vice president now owns 31,275 shares of the company’s stock, valued at approximately $1,969,074. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles G. Kim sold 2,135 shares of the stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $62.96, for a total transaction of $134,419.60. Following the sale, the chief financial officer now directly owns 69,740 shares of the company’s stock, valued at approximately $4,390,830.40. The disclosure for this sale can be found here. Insiders have sold a total of 51,241 shares of company stock valued at $3,159,492 in the last three months. Insiders own 4.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Comerica Bank increased its position in Commerce Bancshares by 0.8% during the 1st quarter. Comerica Bank now owns 101,848 shares of the financial services provider’s stock valued at $6,458,000 after purchasing an additional 811 shares during the period. Thrivent Financial for Lutherans increased its position in Commerce Bancshares by 4.1% during the 1st quarter. Thrivent Financial for Lutherans now owns 21,246 shares of the financial services provider’s stock valued at $1,273,000 after purchasing an additional 833 shares during the period. Profund Advisors LLC increased its position in Commerce Bancshares by 6.0% during the 1st quarter. Profund Advisors LLC now owns 14,905 shares of the financial services provider’s stock valued at $893,000 after purchasing an additional 838 shares during the period. Cliftonlarsonallen Wealth Advisors LLC increased its position in Commerce Bancshares by 5.0% during the 4th quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 18,060 shares of the financial services provider’s stock valued at $1,008,000 after purchasing an additional 858 shares during the period. Finally, Bank of Montreal Can boosted its holdings in shares of Commerce Bancshares by 2.5% during the 4th quarter. Bank of Montreal Can now owns 35,974 shares of the financial services provider’s stock worth $2,009,000 after buying an additional 866 shares in the last quarter. 64.95% of the stock is owned by institutional investors and hedge funds.

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

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