Commerce Bancshares Inc. Expected to Post Q4 2016 Earnings of $0.72 Per Share (CBSH)
Commerce Bancshares Inc. (NASDAQ:CBSH) – Jefferies Group lowered their Q4 2016 EPS estimates for Commerce Bancshares in a note issued to investors on Tuesday. Jefferies Group analyst E. Harmon now anticipates that the firm will post earnings per share of $0.72 for the quarter, down from their prior forecast of $0.73. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Commerce Bancshares’ Q1 2017 earnings at $0.69 EPS, Q2 2017 earnings at $0.74 EPS, Q3 2017 earnings at $0.76 EPS and Q4 2017 earnings at $0.81 EPS.
A number of other research analysts also recently issued reports on CBSH. Zacks Investment Research upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, June 20th. Piper Jaffray Cos. began coverage on Commerce Bancshares in a research report on Monday, July 11th. They set a “neutral” rating and a $43.50 price objective on the stock. Morgan Stanley cut 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, Barclays PLC lifted their price objective on Commerce Bancshares from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Commerce Bancshares has a consensus rating of “Hold” and an average price target of $45.75.
Commerce Bancshares (NASDAQ:CBSH) traded down 2.08% during midday trading on Thursday, hitting $49.35. The stock had a trading volume of 428,266 shares. The firm has a market capitalization of $4.77 billion, a P/E ratio of 18.91 and a beta of 0.74. Commerce Bancshares has a 52-week low of $37.44 and a 52-week high of $51.30. The firm has a 50-day moving average of $49.58 and a 200 day moving average of $47.83.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Wednesday, July 13th. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm earned $288.40 million during the quarter, compared to analyst estimates of $295.65 million. Commerce Bancshares had a return on equity of 11.58% and a net margin of 23.03%. Commerce Bancshares’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 26th. Investors of record on Friday, September 9th were issued a $0.225 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.90 dividend on an annualized basis and a yield of 1.79%. Commerce Bancshares’s payout ratio is currently 34.50%.
In other Commerce Bancshares news, Vice Chairman Jonathan M. Kemper sold 50,000 shares of the business’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $47.22, for a total transaction of $2,361,000.00. Following the completion of the sale, the insider now directly owns 1,242,407 shares in the company, valued at approximately $58,666,458.54. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 sale, the chief executive officer now owns 1,316,068 shares of the company’s stock, valued at $64,303,082.48. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in CBSH. Goldman Sachs Group Inc. raised its stake in shares of Commerce Bancshares by 71.8% in the first quarter. Goldman Sachs Group Inc. now owns 361,617 shares of the financial services provider’s stock worth $16,255,000 after buying an additional 151,116 shares in the last quarter. UBS Group AG raised its stake in shares of Commerce Bancshares by 5.4% in the first quarter. UBS Group AG now owns 119,166 shares of the financial services provider’s stock worth $5,356,000 after buying an additional 6,115 shares in the last quarter. Rafferty Asset Management LLC raised its stake in shares of Commerce Bancshares by 42.6% in the first quarter. Rafferty Asset Management LLC now owns 11,853 shares of the financial services provider’s stock worth $533,000 after buying an additional 3,543 shares in the last quarter. Smith Moore & CO. raised its stake in shares of Commerce Bancshares by 3.6% in the first quarter. Smith Moore & CO. now owns 7,678 shares of the financial services provider’s stock worth $345,000 after buying an additional 268 shares in the last quarter. Finally, Aviva PLC raised its stake in shares of Commerce Bancshares by 0.9% in the first quarter. Aviva PLC now owns 49,192 shares of the financial services provider’s stock worth $2,211,000 after buying an additional 457 shares in the last quarter. 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.
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