Commerce Bancshares, Inc. (NASDAQ:CBSH) – Analysts at Jefferies Group lifted their Q4 2017 earnings per share (EPS) estimates for shares of Commerce Bancshares in a report issued on Monday. Jefferies Group analyst C. Haire now anticipates that the financial services provider will earn $0.75 per share for the quarter, up from their previous estimate of $0.73.
Several other equities research analysts also recently commented on the company. Piper Jaffray Companies reissued a “hold” rating and issued a $58.00 price objective on shares of Commerce Bancshares in a report on Tuesday. Zacks Investment Research raised Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Monday. BidaskClub downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Finally, Barclays increased their price objective on Commerce Bancshares from $55.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Five research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Commerce Bancshares has a consensus rating of “Hold” and an average price target of $56.25.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm had revenue of $304.83 million for the quarter, compared to analyst estimates of $317.28 million. Commerce Bancshares had a return on equity of 12.08% and a net margin of 23.93%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.68 EPS.
Several hedge funds and other institutional investors have recently modified their holdings of CBSH. Schwab Charles Investment Management Inc. increased its position in shares of Commerce Bancshares by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 468,110 shares of the financial services provider’s stock worth $26,603,000 after purchasing an additional 8,179 shares during the period. Victory Capital Management Inc. increased its position in shares of Commerce Bancshares by 21.2% in the second quarter. Victory Capital Management Inc. now owns 29,862 shares of the financial services provider’s stock worth $1,697,000 after purchasing an additional 5,214 shares during the period. Prudential Financial Inc. boosted its stake in Commerce Bancshares by 65.8% in the second quarter. Prudential Financial Inc. now owns 107,842 shares of the financial services provider’s stock valued at $6,129,000 after buying an additional 42,780 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Commerce Bancshares by 8.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock valued at $190,000 after buying an additional 264 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Commerce Bancshares by 4.4% in the second quarter. Principal Financial Group Inc. now owns 371,249 shares of the financial services provider’s stock valued at $21,122,000 after buying an additional 15,634 shares in the last quarter. Institutional investors own 59.14% of the company’s stock.
In other Commerce Bancshares news, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $55.06, for a total transaction of $3,028,300.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider V Raymond Stranghoener sold 6,399 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $58.40, for a total value of $373,701.60. Following the transaction, the insider now owns 47,112 shares in the company, valued at approximately $2,751,340.80. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 18th. Investors of record on Thursday, November 30th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Wednesday, November 29th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 33.58%.
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Commerce Bancshares Company Profile
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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