Commerce Bancshares, Inc. Expected to Post Q4 2018 Earnings of $0.95 Per Share (CBSH)

Commerce Bancshares, Inc. (NASDAQ:CBSH) – Equities researchers at Jefferies Financial Group lifted their Q4 2018 earnings estimates for Commerce Bancshares in a research report issued on Tuesday, January 8th. Jefferies Financial Group analyst C. Haire now expects that the financial services provider will post earnings of $0.95 per share for the quarter, up from their prior estimate of $0.92. Jefferies Financial Group also issued estimates for Commerce Bancshares’ Q1 2019 earnings at $0.91 EPS and Q2 2019 earnings at $0.96 EPS.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, October 11th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.96 by $0.07. Commerce Bancshares had a net margin of 30.97% and a return on equity of 15.56%. The company had revenue of $331.47 million during the quarter, compared to analysts’ expectations of $330.91 million.



Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Wednesday, October 17th. BidaskClub upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, November 13th. ValuEngine cut shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Stephens restated a “hold” rating and issued a $65.00 target price on shares of Commerce Bancshares in a report on Wednesday, December 19th. Finally, Morgan Stanley lowered their target price on shares of Commerce Bancshares from $58.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, December 11th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Commerce Bancshares has a consensus rating of “Hold” and an average price target of $64.25.

NASDAQ CBSH opened at $57.81 on Friday. Commerce Bancshares has a 52 week low of $53.40 and a 52 week high of $72.55. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 1.79 and a beta of 0.75.

A number of large investors have recently modified their holdings of the stock. Acadian Asset Management LLC raised its position in Commerce Bancshares by 224.3% during the 3rd quarter. Acadian Asset Management LLC now owns 1,842 shares of the financial services provider’s stock worth $121,000 after buying an additional 1,274 shares during the last quarter. Chesley Taft & Associates LLC purchased a new position in Commerce Bancshares during the 3rd quarter worth $203,000. Natixis purchased a new position in Commerce Bancshares during the 2nd quarter worth $207,000. Caxton Associates LP purchased a new position in Commerce Bancshares during the 3rd quarter worth $230,000. Finally, Mutual Advisors LLC purchased a new position in Commerce Bancshares during the 3rd quarter worth $237,000. Hedge funds and other institutional investors own 60.37% of the company’s stock.

In related news, insider Jeffrey M. Burik sold 2,303 shares of the stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $65.02, for a total transaction of $149,741.06. Following the completion of the sale, the insider now owns 18,358 shares in the company, valued at approximately $1,193,637.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Daniel D. Callahan sold 1,500 shares of the stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $65.91, for a total transaction of $98,865.00. Following the sale, the insider now owns 26,036 shares of the company’s stock, valued at approximately $1,716,032.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,540 shares of company stock valued at $745,554. 4.00% of the stock is owned by company insiders.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 17th. Investors of record on Friday, November 30th were paid a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Thursday, November 29th. Commerce Bancshares’s dividend payout ratio is currently 35.61%.

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.

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

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