Commerce Bancshares (NASDAQ:CBSH) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Commerce Bancshares (NASDAQ:CBSH) released its quarterly earnings results on Wednesday. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06, Bloomberg Earnings reports. Commerce Bancshares had a net margin of 29.34% and a return on equity of 14.52%. The firm had revenue of $336.30 million during the quarter, compared to the consensus estimate of $337.31 million. During the same quarter in the prior year, the firm earned $1.03 EPS. Commerce Bancshares’s revenue for the quarter was down .8% on a year-over-year basis.

CBSH stock opened at $62.78 on Friday. The company has a fifty day moving average price of $59.54 and a 200 day moving average price of $59.10. Commerce Bancshares has a 12 month low of $53.40 and a 12 month high of $67.94. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 5.65 and a beta of 0.75. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.73 and a quick ratio of 0.71.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were given a $0.26 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.04 annualized dividend and a yield of 1.66%. Commerce Bancshares’s dividend payout ratio (DPR) is 27.51%.

In related news, SVP Jeffrey M. Burik sold 3,200 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $60.96, for a total value of $195,072.00. Following the completion of the sale, the senior vice president now owns 17,120 shares in the company, valued at approximately $1,043,635.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John W. Kemper sold 2,077 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $61.45, for a total transaction of $127,631.65. Following the transaction, the chief executive officer now owns 152,280 shares of the company’s stock, valued at approximately $9,357,606. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.

CBSH has been the subject of several research reports. Stephens reiterated a “hold” rating and issued a $59.00 price target on shares of Commerce Bancshares in a research report on Wednesday. Morgan Stanley reduced their price target on shares of Commerce Bancshares from $56.00 to $55.00 and set an “underweight” rating for the company in a research report on Thursday, October 3rd. BidaskClub upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. DA Davidson upped their price target on shares of Commerce Bancshares to $62.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. Finally, Raymond James downgraded shares of Commerce Bancshares from a “market perform” rating to an “underperform” rating in a research report on Monday, July 8th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company has an average rating of “Hold” and a consensus price target of $58.57.

Commerce Bancshares Company Profile

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. 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 banking services.

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Earnings History for Commerce Bancshares (NASDAQ:CBSH)

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