Commerce Bancshares (NASDAQ:CBSH) Announces Earnings Results

Commerce Bancshares (NASDAQ:CBSHGet Rating) released its quarterly earnings data on Tuesday. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09, RTT News reports. Commerce Bancshares had a return on equity of 15.44% and a net margin of 37.68%. The firm had revenue of $340.60 million during the quarter, compared to analyst estimates of $348.21 million. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year.

CBSH stock opened at $70.47 on Tuesday. Commerce Bancshares has a 1 year low of $61.81 and a 1 year high of $77.32. The business has a 50-day moving average of $71.01. The company has a market capitalization of $8.53 billion, a P/E ratio of 16.35 and a beta of 0.84.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 23rd. Stockholders of record on Tuesday, March 8th were paid a dividend of $0.265 per share. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, March 7th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.50%. Commerce Bancshares’s payout ratio is presently 24.59%.

In other news, SVP Douglas D. Neff sold 478 shares of the company’s stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $71.39, for a total value of $34,124.42. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David W. Kemper sold 9,267 shares of Commerce Bancshares stock in a transaction dated Thursday, January 27th. The shares were sold at an average price of $68.10, for a total transaction of $631,082.70. The disclosure for this sale can be found here. Insiders sold 52,476 shares of company stock valued at $3,652,018 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC purchased a new position in Commerce Bancshares during the fourth quarter valued at $237,000. Segall Bryant & Hamill LLC increased its holdings in shares of Commerce Bancshares by 5.0% during the fourth quarter. Segall Bryant & Hamill LLC now owns 4,131 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 195 shares in the last quarter. MML Investors Services LLC increased its holdings in shares of Commerce Bancshares by 6.8% during the fourth quarter. MML Investors Services LLC now owns 4,488 shares of the financial services provider’s stock valued at $309,000 after acquiring an additional 284 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Commerce Bancshares by 8.1% in the 4th quarter. Cetera Investment Advisers now owns 4,847 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 362 shares during the last quarter. Finally, OLD Mission Capital LLC bought a new position in Commerce Bancshares in the 3rd quarter worth about $476,000. Institutional investors own 63.95% of the company’s stock.

A number of equities research analysts recently commented on CBSH shares. StockNews.com began coverage on shares of Commerce Bancshares in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “strong-buy” rating and set a $78.00 target price for the company in a report on Monday, January 24th. Finally, Wells Fargo & Company raised 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 note on Monday, March 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $71.17.

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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Earnings History for Commerce Bancshares (NASDAQ:CBSH)

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