Research Analysts Set Expectations for Commerce Bancshares Inc.’s FY2016 Earnings (CBSH)
Commerce Bancshares Inc. (NASDAQ:CBSH) – Equities research analysts at DA Davidson lowered their FY2016 earnings per share estimates for Commerce Bancshares in a report released on Monday. DA Davidson analyst J. Rulis now anticipates that the brokerage will earn $2.75 per share for the year, down from their prior estimate of $2.78. DA Davidson also issued estimates for Commerce Bancshares’ Q1 2017 earnings at $0.71 EPS and Q4 2017 earnings at $0.74 EPS.
A number of other research firms have also recently commented on CBSH. Barclays PLC increased their price target on Commerce Bancshares from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 11th. Zacks Investment Research upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, October 13th. Morgan Stanley cut Commerce Bancshares from an “equal weight” rating to an “underweight” rating and set a $45.00 price objective for the company. in a research note on Tuesday, September 20th. Jefferies Group restated a “hold” rating on shares of Commerce Bancshares in a research note on Thursday, August 18th. Finally, Piper Jaffray Cos. started coverage on Commerce Bancshares in a research note on Monday, July 11th. They issued a “neutral” rating and a $43.50 price objective for the company. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $45.75.
Commerce Bancshares (NASDAQ:CBSH) traded up 1.85% on Wednesday, reaching $49.42. The company had a trading volume of 147,587 shares. Commerce Bancshares has a 1-year low of $37.44 and a 1-year high of $51.30. The stock has a market capitalization of $4.77 billion, a P/E ratio of 18.93 and a beta of 0.74. The stock’s 50 day moving average is $49.47 and its 200-day moving average is $47.95.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Friday, October 14th. The financial services provider reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.02. Commerce Bancshares had a return on equity of 11.52% and a net margin of 23.01%. The business earned $290.60 million during the quarter. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of the stock. Walleye Trading LLC acquired a new stake in shares of Commerce Bancshares during the second quarter valued at approximately $101,000. Pacad Investment Ltd. acquired a new stake in shares of Commerce Bancshares during the second quarter valued at approximately $120,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Commerce Bancshares by 28.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,547 shares of the financial services provider’s stock valued at $122,000 after buying an additional 566 shares during the last quarter. WFG Advisors LP raised its stake in shares of Commerce Bancshares by 0.5% in the second quarter. WFG Advisors LP now owns 3,725 shares of the financial services provider’s stock valued at $178,000 after buying an additional 20 shares during the last quarter. Finally, Advisor Group Inc. acquired a new stake in shares of Commerce Bancshares during the second quarter valued at approximately $183,000. 60.82% of the stock is currently owned by institutional investors.
In related news, Vice Chairman Jonathan M. Kemper sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $50.07, for a total transaction of $2,503,500.00. Following the sale, the insider now directly owns 1,192,407 shares of the company’s stock, valued at $59,703,818.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Charles G. Kim sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $48.04, for a total value of $240,200.00. Following the sale, the insider now directly owns 82,551 shares in the company, valued at $3,965,750.04. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Monday, September 26th. Investors of record on Friday, September 9th were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Wednesday, September 7th. Commerce Bancshares’s dividend payout ratio (DPR) is 33.83%.
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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