Commerce Bancshares, Inc. Expected to Earn FY2017 Earnings of $2.80 Per Share (CBSH)

Commerce Bancshares, Inc. (NASDAQ:CBSH) – Stock analysts at Jefferies Group boosted their FY2017 earnings per share (EPS) estimates for shares of Commerce Bancshares in a research report issued on Tuesday. Jefferies Group analyst C. Haire now forecasts that the financial services provider will post earnings of $2.80 per share for the year, up from their previous forecast of $2.79. Jefferies Group also issued estimates for Commerce Bancshares’ Q4 2017 earnings at $0.74 EPS, Q1 2018 earnings at $0.79 EPS, Q2 2018 earnings at $0.85 EPS, Q3 2018 earnings at $0.88 EPS and Q4 2018 earnings at $0.90 EPS.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $304.83 million for the quarter, compared to the consensus estimate of $317.28 million. Commerce Bancshares had a return on equity of 12.08% and a net margin of 23.93%. Commerce Bancshares’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 earnings per share.

Other equities analysts have also recently issued reports about the company. BidaskClub upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Thursday. Zacks Investment Research cut Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Piper Jaffray Companies restated a “hold” rating and set a $58.00 price target on shares of Commerce Bancshares in a report on Tuesday. Finally, Barclays increased their price target on Commerce Bancshares from $55.00 to $59.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $56.25.

Commerce Bancshares (NASDAQ:CBSH) opened at $57.95 on Friday. The stock has a market capitalization of $6,120.00, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 3.05 and a beta of 0.80. Commerce Bancshares has a twelve month low of $51.90 and a twelve month high of $60.61. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.04.

The company also recently announced a quarterly dividend, which was paid on Monday, December 18th. Investors of record on Thursday, November 30th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Wednesday, November 29th. Commerce Bancshares’s dividend payout ratio is currently 33.58%.

In related 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 value of $3,028,300.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 completion of the transaction, the insider now owns 47,112 shares in the company, valued at $2,751,340.80. The disclosure for this sale can be found here. 4.30% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. lifted its stake in Commerce Bancshares by 1.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 468,110 shares of the financial services provider’s stock valued at $26,603,000 after acquiring an additional 8,179 shares in the last quarter. Prudential Financial Inc. lifted its stake in Commerce Bancshares by 65.8% during the 2nd quarter. Prudential Financial Inc. now owns 107,842 shares of the financial services provider’s stock valued at $6,129,000 after acquiring an additional 42,780 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Commerce Bancshares by 8.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock valued at $190,000 after acquiring an additional 264 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Commerce Bancshares by 4.4% during the 2nd quarter. Principal Financial Group Inc. now owns 371,249 shares of the financial services provider’s stock valued at $21,122,000 after acquiring an additional 15,634 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Commerce Bancshares by 1.3% during the 2nd quarter. Swiss National Bank now owns 152,314 shares of the financial services provider’s stock valued at $8,656,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 59.14% of the company’s stock.

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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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