Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Rating) – Equities researchers at Jefferies Financial Group upped their Q3 2022 earnings estimates for Commerce Bancshares in a note issued to investors on Monday, July 11th. Jefferies Financial Group analyst C. Haire now anticipates that the financial services provider will post earnings of $1.13 per share for the quarter, up from their previous forecast of $1.05. The consensus estimate for Commerce Bancshares’ current full-year earnings is $3.91 per share. Jefferies Financial Group also issued estimates for Commerce Bancshares’ Q4 2022 earnings at $1.10 EPS and FY2022 earnings at $4.24 EPS.
CBSH has been the subject of several other research reports. StockNews.com cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Monday, May 23rd. Wells Fargo & Company raised shares of Commerce Bancshares from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $60.00 to $70.00 in a research report on Monday, March 21st.
Shares of Commerce Bancshares stock opened at $65.43 on Wednesday. Commerce Bancshares has a 52-week low of $61.81 and a 52-week high of $74.72. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 15.49 and a beta of 0.81. The company has a fifty day moving average of $66.80 and a 200-day moving average of $69.41.
Commerce Bancshares (NASDAQ:CBSH – Get Rating) last issued its quarterly earnings results on Tuesday, April 19th. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $340.60 million for the quarter, compared to analyst estimates of $348.21 million. Commerce Bancshares had a net margin of 36.83% and a return on equity of 15.45%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.06 EPS.
A number of large investors have recently modified their holdings of CBSH. California Public Employees Retirement System increased its position in Commerce Bancshares by 2.5% in the fourth quarter. California Public Employees Retirement System now owns 243,876 shares of the financial services provider’s stock worth $16,764,000 after purchasing an additional 5,917 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Commerce Bancshares by 6.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,280 shares of the financial services provider’s stock valued at $1,022,000 after purchasing an additional 823 shares during the period. Alliancebernstein L.P. lifted its stake in Commerce Bancshares by 8.2% in the fourth quarter. Alliancebernstein L.P. now owns 180,610 shares of the financial services provider’s stock worth $12,415,000 after acquiring an additional 13,740 shares during the period. Toronto Dominion Bank lifted its stake in Commerce Bancshares by 783.9% in the fourth quarter. Toronto Dominion Bank now owns 11,800 shares of the financial services provider’s stock worth $811,000 after acquiring an additional 10,465 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in Commerce Bancshares by 8.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,135 shares of the financial services provider’s stock worth $559,000 after acquiring an additional 660 shares during the period. 67.85% of the stock is currently owned by institutional investors and hedge funds.
In other Commerce Bancshares news, Director Blackford F. Brauer acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The shares were bought at an average price of $65.85 per share, with a total value of $329,250.00. Following the completion of the acquisition, the director now owns 11,027 shares in the company, valued at approximately $726,127.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.20% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 22nd. Stockholders of record on Tuesday, June 7th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Monday, June 6th. Commerce Bancshares’s payout ratio is presently 25.09%.
Commerce Bancshares Company Profile (Get Rating)
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 in the United States. It operates through three segments: Consumer, Commercial, and Wealth.
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