Commerce Bancshares, Inc. (CBSH) to Release Earnings on Thursday
Commerce Bancshares, Inc. (NASDAQ:CBSH) is scheduled to release its earnings data on Thursday, October 12th. Analysts expect Commerce Bancshares to post earnings of $0.74 per share for the quarter.
Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, July 13th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The firm had revenue of $305.89 million for the quarter, compared to the consensus estimate of $309.44 million. During the same period in the prior year, the firm earned $0.70 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. On average, analysts expect Commerce Bancshares to post $2.94 EPS for the current fiscal year and $3.11 EPS for the next fiscal year.
Commerce Bancshares, Inc. (CBSH) opened at 57.98 on Tuesday. The firm has a market capitalization of $5.89 billion, a P/E ratio of 21.01 and a beta of 0.83. Commerce Bancshares, Inc. has a 52-week low of $47.64 and a 52-week high of $60.61. The company has a 50 day moving average price of $55.69 and a 200 day moving average price of $55.92.
The company also recently declared a quarterly dividend, which was paid on Monday, September 25th. Stockholders of record on Friday, September 8th were paid a dividend of $0.225 per share. The ex-dividend date was Thursday, September 7th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.55%. Commerce Bancshares’s dividend payout ratio (DPR) is 32.64%.
In other Commerce Bancshares news, Director John R. Capps sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $54.82, for a total transaction of $548,200.00. Following the transaction, the director now directly owns 12,828 shares in the company, valued at $703,230.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman David W. Kemper sold 10,132 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $57.83, for a total transaction of $585,933.56. Following the transaction, the chairman now owns 1,270,757 shares in the company, valued at $73,487,877.31. The disclosure for this sale can be found here. Insiders have sold 20,819 shares of company stock worth $1,174,728 over the last 90 days. 4.30% of the stock is currently owned by company insiders.
A number of research analysts have recently issued reports on CBSH shares. Zacks Investment Research lowered shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday, August 31st. Piper Jaffray Companies reiterated a “neutral” rating and set a $60.00 price target on shares of Commerce Bancshares in a research note on Friday. Stephens reiterated an “equal weight” rating and set a $56.00 price target (up from $52.00) on shares of Commerce Bancshares in a research note on Monday, July 17th. BidaskClub lowered shares of Commerce Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Finally, Barclays PLC set a $58.00 price target on shares of Commerce Bancshares and gave the stock a “hold” rating in a research note on Sunday, July 16th. Five investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Commerce Bancshares presently has a consensus rating of “Hold” and a consensus target price of $56.63.
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, mortgage banking, 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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