Commerce Bancshares (CBSH) Scheduled to Post Quarterly Earnings on Thursday

Commerce Bancshares (NASDAQ:CBSH) is scheduled to announce its earnings results before the market opens on Thursday, October 17th. Analysts expect the company to announce earnings of $1.00 per share for the quarter.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.17. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The company had revenue of $414.90 million for the quarter, compared to the consensus estimate of $406.88 million. During the same period last year, the business posted $0.97 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, analysts expect Commerce Bancshares to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Commerce Bancshares Stock Up 1.4 %

Shares of CBSH stock opened at $61.11 on Wednesday. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 2.93 and a beta of 0.74. Commerce Bancshares has a 12-month low of $40.91 and a 12-month high of $65.86. The firm has a fifty day moving average of $61.04 and a 200-day moving average of $57.92.

Commerce Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th were paid a $0.27 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.77%. Commerce Bancshares’s dividend payout ratio (DPR) is 30.08%.

Insider Transactions at Commerce Bancshares

In other news, EVP Robert S. Holmes sold 3,795 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $64.75, for a total transaction of $245,726.25. Following the completion of the transaction, the executive vice president now owns 50,293 shares of the company’s stock, valued at approximately $3,256,471.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Jonathan M. Kemper sold 19,626 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $63.66, for a total value of $1,249,391.16. Following the sale, the director now directly owns 997,112 shares in the company, valued at $63,476,149.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert S. Holmes sold 3,795 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $64.75, for a total value of $245,726.25. Following the completion of the transaction, the executive vice president now owns 50,293 shares in the company, valued at $3,256,471.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,612 shares of company stock valued at $3,184,609. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CBSH has been the topic of several research reports. Wells Fargo & Company upped their target price on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $66.00 to $64.00 in a research note on Monday, September 30th. StockNews.com downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group increased their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $59.71.

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 in the United States. It operates through three segments: Consumer, Commercial, and Wealth.