Commerce Bancshares Inc. (NASDAQ:CBSH) – Analysts at Jefferies Group decreased their FY2016 earnings estimates for Commerce Bancshares in a research note issued to investors on Friday. Jefferies Group analyst E. Harmon now forecasts that the brokerage will earn $2.79 per share for the year, down from their previous estimate of $2.80. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Commerce Bancshares’ FY2017 earnings at $3.00 EPS and FY2018 earnings at $3.20 EPS.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Wednesday, July 13th. The financial services provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $288.40 million for the quarter, compared to analysts’ expectations of $295.65 million. Commerce Bancshares had a return on equity of 11.58% and a net margin of 23.03%. Commerce Bancshares’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS.

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

Several other equities analysts have also recently weighed in on the stock. Barclays PLC lifted their price objective on shares of Commerce Bancshares from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. Morgan Stanley cut shares of Commerce Bancshares from an “equal weight” rating to an “underweight” rating and set a $45.00 price objective on the stock. in a research report on Tuesday, September 20th. Finally, Piper Jaffray Cos. initiated coverage on shares of Commerce Bancshares in a research report on Monday, July 11th. They set a “neutral” rating and a $43.50 price objective on the stock. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $45.75.

Shares of Commerce Bancshares (NASDAQ:CBSH) opened at 50.27 on Monday. The firm’s 50-day moving average price is $49.54 and its 200-day moving average price is $47.81. The firm has a market cap of $4.85 billion, a PE ratio of 19.26 and a beta of 0.74. Commerce Bancshares has a one year low of $37.44 and a one year high of $51.30.

The business also recently declared a quarterly dividend, which was paid on Monday, September 26th. Stockholders of record on Friday, September 9th were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Wednesday, September 7th. Commerce Bancshares’s dividend payout ratio is currently 34.50%.

In other news, Vice Chairman Jonathan M. Kemper sold 50,000 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $50.07, for a total transaction of $2,503,500.00. Following the transaction, the insider now directly owns 1,192,407 shares in the company, valued at approximately $59,703,818.49. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David W. Kemper sold 40,000 shares of the business’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $48.86, for a total transaction of $1,954,400.00. Following the transaction, the chief executive officer now owns 1,316,068 shares in the company, valued at $64,303,082.48. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in Commerce Bancshares by 142.8% in the second quarter. JPMorgan Chase & Co. now owns 555,447 shares of the financial services provider’s stock valued at $26,606,000 after buying an additional 326,694 shares during the last quarter. Principal Financial Group Inc. raised its stake in Commerce Bancshares by 88.0% in the second quarter. Principal Financial Group Inc. now owns 518,053 shares of the financial services provider’s stock valued at $24,827,000 after buying an additional 242,451 shares during the last quarter. Vanguard Group Inc. raised its stake in Commerce Bancshares by 3.3% in the second quarter. Vanguard Group Inc. now owns 6,706,151 shares of the financial services provider’s stock valued at $321,225,000 after buying an additional 217,230 shares during the last quarter. Martingale Asset Management L P raised its stake in Commerce Bancshares by 76.5% in the second quarter. Martingale Asset Management L P now owns 447,072 shares of the financial services provider’s stock valued at $21,416,000 after buying an additional 193,807 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in Commerce Bancshares during the second quarter valued at about $7,771,000. Institutional investors and hedge funds own 60.86% of the company’s stock.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

5 Day Chart for NASDAQ:CBSH

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