Commerce Bancshares, Inc. (NASDAQ:CBSH) – Investment analysts at Jefferies Financial Group lowered their Q3 2019 EPS estimates for Commerce Bancshares in a note issued to investors on Tuesday, January 8th. Jefferies Financial Group analyst C. Haire now expects that the financial services provider will earn $0.97 per share for the quarter, down from their prior forecast of $0.97. Jefferies Financial Group also issued estimates for Commerce Bancshares’ Q4 2019 earnings at $1.01 EPS, FY2019 earnings at $3.85 EPS and FY2020 earnings at $3.95 EPS.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Wednesday, October 17th. Barclays reaffirmed a “hold” rating and set a $65.00 target price on shares of Commerce Bancshares in a research note on Friday. Stephens reaffirmed a “hold” rating and set a $65.00 target price on shares of Commerce Bancshares in a research note on Wednesday, December 19th. ValuEngine downgraded shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, BidaskClub raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, November 13th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $63.88.
Shares of NASDAQ CBSH opened at $57.97 on Thursday. Commerce Bancshares has a fifty-two week low of $53.40 and a fifty-two week high of $72.55. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 1.79 and a beta of 0.75.
Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, October 11th. The financial services provider reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.07. Commerce Bancshares had a net margin of 30.97% and a return on equity of 15.56%. The business had revenue of $331.47 million during the quarter, compared to the consensus estimate of $330.91 million.
The company also recently declared a quarterly dividend, which was paid on Monday, December 17th. Stockholders of record on Friday, November 30th were issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Thursday, November 29th. Commerce Bancshares’s payout ratio is 35.61%.
In other news, insider Jeffrey M. Burik sold 2,303 shares of the stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $65.02, for a total transaction of $149,741.06. Following the sale, the insider now owns 18,358 shares in the company, valued at $1,193,637.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Daniel D. Callahan sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $65.91, for a total transaction of $98,865.00. Following the sale, the insider now owns 26,036 shares in the company, valued at approximately $1,716,032.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,540 shares of company stock worth $745,554. Corporate insiders own 4.00% of the company’s stock.
Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC boosted its holdings in Commerce Bancshares by 224.3% in the third quarter. Acadian Asset Management LLC now owns 1,842 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 1,274 shares during the last quarter. Chesley Taft & Associates LLC purchased a new stake in Commerce Bancshares in the third quarter worth approximately $203,000. Natixis purchased a new stake in Commerce Bancshares in the second quarter worth approximately $207,000. Caxton Associates LP purchased a new stake in Commerce Bancshares in the third quarter worth approximately $230,000. Finally, Mutual Advisors LLC purchased a new stake in Commerce Bancshares in the third quarter worth approximately $237,000. Hedge funds and other institutional investors own 60.37% of the company’s stock.
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.