Commerce Bancshares, Inc. Forecasted to Post Q1 2020 Earnings of $0.96 Per Share (CBSH)

Commerce Bancshares, Inc. (NASDAQ:CBSH) – Equities research analysts at Piper Jaffray Companies dropped their Q1 2020 earnings per share (EPS) estimates for Commerce Bancshares in a research note issued on Thursday, April 11th. Piper Jaffray Companies analyst N. Race now forecasts that the financial services provider will post earnings of $0.96 per share for the quarter, down from their previous estimate of $1.01. Piper Jaffray Companies also issued estimates for Commerce Bancshares’ Q2 2020 earnings at $0.98 EPS, Q3 2020 earnings at $1.01 EPS and Q4 2020 earnings at $1.03 EPS.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, April 11th. The financial services provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.06). Commerce Bancshares had a return on equity of 15.95% and a net margin of 30.39%. The company had revenue of $324.73 million for the quarter, compared to analyst estimates of $333.99 million.

A number of other equities analysts have also recently commented on CBSH. Stephens reaffirmed a “hold” rating and issued a $65.00 target price on shares of Commerce Bancshares in a report on Wednesday, December 19th. Barclays reaffirmed a “hold” rating and issued a $65.00 target price on shares of Commerce Bancshares in a report on Friday, January 11th. Raymond James raised shares of Commerce Bancshares from an “underperform” rating to a “market perform” rating and set a $60.43 target price on the stock in a report on Friday, January 18th. They noted that the move was a valuation call. BidaskClub raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. Finally, Zacks Investment Research cut shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $62.68.

CBSH stock opened at $59.17 on Monday. Commerce Bancshares has a twelve month low of $53.40 and a twelve month high of $72.55. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 3.53 and a beta of 0.74.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Clarus Wealth Advisors increased its stake in Commerce Bancshares by 4.9% in the 4th quarter. Clarus Wealth Advisors now owns 3,516 shares of the financial services provider’s stock valued at $198,000 after buying an additional 165 shares during the period. Segall Bryant & Hamill LLC increased its stake in Commerce Bancshares by 4.9% in the 4th quarter. Segall Bryant & Hamill LLC now owns 3,573 shares of the financial services provider’s stock valued at $201,000 after buying an additional 168 shares during the period. Commonwealth Equity Services LLC increased its stake in Commerce Bancshares by 1.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,503 shares of the financial services provider’s stock valued at $704,000 after buying an additional 169 shares during the period. Wesbanco Bank Inc. increased its stake in Commerce Bancshares by 2.8% in the 4th quarter. Wesbanco Bank Inc. now owns 6,565 shares of the financial services provider’s stock valued at $370,000 after buying an additional 177 shares during the period. Finally, Palisades Hudson Asset Management L.P. increased its stake in Commerce Bancshares by 5.0% in the 4th quarter. Palisades Hudson Asset Management L.P. now owns 4,019 shares of the financial services provider’s stock valued at $227,000 after buying an additional 191 shares during the period. 64.17% of the stock is currently owned by institutional investors.

In other Commerce Bancshares news, insider Patricia R. Kellerhals sold 851 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.17, for a total value of $52,055.67. Following the transaction, the insider now directly owns 6,127 shares of the company’s stock, valued at approximately $374,788.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David W. Kemper sold 20,000 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $59.81, for a total transaction of $1,196,200.00. Following the completion of the transaction, the director now directly owns 1,319,624 shares in the company, valued at $78,926,711.44. The disclosure for this sale can be found here. Insiders sold a total of 94,093 shares of company stock worth $5,735,892 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.76%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, March 7th. Commerce Bancshares’s payout ratio is presently 27.51%.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc operates as the bank 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 banking services.

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Earnings History and Estimates for Commerce Bancshares (NASDAQ:CBSH)

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