Commerce Bancshares (NASDAQ:CBSH) – Stock analysts at Piper Jaffray upped their Q2 2018 EPS estimates for Commerce Bancshares in a report released on Sunday, April 15th. Piper Jaffray analyst N. Race now anticipates that the financial services provider will earn $0.90 per share for the quarter, up from their previous estimate of $0.86. Piper Jaffray currently has a “Hold” rating and a $58.00 target price on the stock. Piper Jaffray also issued estimates for Commerce Bancshares’ Q3 2018 earnings at $0.90 EPS, Q4 2018 earnings at $0.87 EPS, Q1 2019 earnings at $0.88 EPS, Q2 2019 earnings at $0.92 EPS, Q3 2019 earnings at $0.95 EPS, Q4 2019 earnings at $0.94 EPS and FY2019 earnings at $3.68 EPS.
Other analysts have also recently issued research reports about the company. ValuEngine cut Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research cut Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. BidaskClub cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, January 30th. UBS upgraded Commerce Bancshares to a “market perform” rating in a research report on Tuesday, April 10th. Finally, DA Davidson lifted their price objective on Commerce Bancshares to $67.00 and gave the stock a “neutral” rating in a research report on Friday, April 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $60.33.
Commerce Bancshares stock opened at $62.71 on Tuesday. The stock has a market cap of $6,761.68, a P/E ratio of 22.64, a P/E/G ratio of 2.27 and a beta of 0.69. Commerce Bancshares has a 52 week low of $51.90 and a 52 week high of $64.21.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The firm had revenue of $314.22 million during the quarter, compared to analysts’ expectations of $312.98 million. Commerce Bancshares had a return on equity of 13.21% and a net margin of 27.16%.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 25th. Shareholders of record on Friday, June 8th will be paid a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 1.50%. Commerce Bancshares’s payout ratio is 33.94%.
In other Commerce Bancshares news, insider Jeffery D. Aberdeen sold 1,333 shares of the firm’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $63.13, for a total value of $84,152.29. Following the sale, the insider now directly owns 40,192 shares of the company’s stock, valued at approximately $2,537,320.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Charles G. Kim sold 6,909 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $58.66, for a total value of $405,281.94. Following the completion of the sale, the chief financial officer now directly owns 87,303 shares in the company, valued at $5,121,193.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 170,107 shares of company stock worth $9,963,133. 4.00% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of CBSH. BlackRock Inc. lifted its stake in shares of Commerce Bancshares by 6.2% in the 4th quarter. BlackRock Inc. now owns 8,217,981 shares of the financial services provider’s stock valued at $458,894,000 after purchasing an additional 481,612 shares in the last quarter. Commerce Bank lifted its stake in shares of Commerce Bancshares by 4.6% in the 4th quarter. Commerce Bank now owns 7,369,241 shares of the financial services provider’s stock valued at $411,498,000 after purchasing an additional 325,364 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Commerce Bancshares by 11.3% in the 4th quarter. American Century Companies Inc. now owns 3,643,390 shares of the financial services provider’s stock valued at $203,447,000 after purchasing an additional 369,008 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Commerce Bancshares by 11.3% in the 4th quarter. Lazard Asset Management LLC now owns 1,637,293 shares of the financial services provider’s stock valued at $91,425,000 after purchasing an additional 165,690 shares in the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of Commerce Bancshares by 49.9% in the 4th quarter. Schroder Investment Management Group now owns 1,266,154 shares of the financial services provider’s stock valued at $70,702,000 after purchasing an additional 421,526 shares in the last quarter. 62.76% of the stock is currently owned by hedge funds and other institutional investors.
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Commerce Bancshares Company Profile
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.
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