Commerce Bancshares (NASDAQ:CBSH) will be posting its quarterly earnings results before the market opens on Thursday, October 11th. Analysts expect Commerce Bancshares to post earnings of $0.96 per share for the quarter.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, July 12th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.12. The business had revenue of $335.81 million during the quarter, compared to analysts’ expectations of $319.25 million. Commerce Bancshares had a return on equity of 14.24% and a net margin of 28.84%. During the same quarter last year, the business posted $0.71 EPS. On average, analysts expect Commerce Bancshares to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Shares of CBSH opened at $66.02 on Tuesday. The stock has a market capitalization of $7.04 billion, a PE ratio of 23.60, a P/E/G ratio of 1.96 and a beta of 0.67. Commerce Bancshares has a 1 year low of $54.24 and a 1 year high of $72.55.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 24th. Stockholders of record on Friday, September 7th were paid a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, September 6th. Commerce Bancshares’s payout ratio is presently 33.94%.
Several equities analysts have recently issued reports on the company. Bank of America set a $68.00 price objective on Commerce Bancshares and gave the company a “sell” rating in a research note on Friday, July 13th. ValuEngine cut Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. BidaskClub cut Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, June 13th. Zacks Investment Research cut Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. Finally, Raymond James cut Commerce Bancshares from a “market perform” rating to an “underperform” rating in a research note on Tuesday, July 10th. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. Commerce Bancshares presently has an average rating of “Hold” and a consensus price target of $65.22.
In related news, Director Jonathan M. Kemper sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $71.35, for a total transaction of $3,210,750.00. Following the completion of the sale, the director now owns 902,348 shares in the company, valued at $64,382,529.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David W. Kemper sold 9,465 shares of the business’s stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $68.60, for a total value of $649,299.00. Following the sale, the chief executive officer now owns 1,291,012 shares of the company’s stock, valued at approximately $88,563,423.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,931 shares of company stock valued at $4,920,470. 4.00% of the stock is owned by company insiders.
About Commerce Bancshares
Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.
Recommended Story: Put Option
Receive News & Ratings for Commerce Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.