Commerce Bancshares (NASDAQ:CBSH) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Commerce Bancshares reported quarterly EPS of $1.08, beating analysts’ consensus estimate by $0.01. The company posted a 14.31% return on equity and a 26.07% net margin.
• The company maintains a quarterly dividend of $0.275 per share, equivalent to $1.10 annually and a 2.0% yield, with a 26.63% payout ratio.
• Analysts maintain a consensus “Hold” rating with an average price target of $64.29, while insiders sold roughly 32,950 shares worth $1.96 million over the past three months.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) announced its earnings results on Tuesday. The financial services provider reported $1.08 EPS for the quarter, topping the consensus estimate of $1.07 by $0.01, Zacks reports. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.

Commerce Bancshares Trading Down 1.0%

Commerce Bancshares stock opened at $55.11 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $7.90 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 1.70 and a beta of 0.60. Commerce Bancshares has a 1 year low of $46.99 and a 1 year high of $60.92. The firm's 50 day moving average price is $57.08 and its two-hundred day moving average price is $55.41.

Commerce Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Friday, September 4th were issued a dividend of $0.2750 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, September 4th. Commerce Bancshares's dividend payout ratio (DPR) is presently 26.63%.

Insider Buying and Selling

In related news, EVP Robert S. Holmes sold 5,000 shares of Commerce Bancshares stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $60.20, for a total value of $301,000.00. Following the transaction, the executive vice president directly owned 55,962 shares in the company, valued at $3,368,912.40. The trade was a 8.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Charles G. Kim sold 19,771 shares of Commerce Bancshares stock in a transaction on Monday, July 27th. The stock was sold at an average price of $59.18, for a total value of $1,170,047.78. Following the completion of the transaction, the chief financial officer owned 119,410 shares in the company, valued at $7,066,683.80. The trade was a 14.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,950 shares of company stock valued at $1,963,777 in the last three months. Insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CBSH. Raymond James Financial upgraded Commerce Bancshares to a "hold" rating in a research report on Thursday, August 27th. Morgan Stanley upped their price objective on Commerce Bancshares from $76.00 to $77.00 and gave the company an "overweight" rating in a report on Monday, September 28th. Wall Street Zen raised Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, October 11th. Stephens set a $64.00 target price on Commerce Bancshares and gave the stock an "equal weight" rating in a report on Friday, July 17th. Finally, Keefe, Bruyette & Woods lifted their target price on Commerce Bancshares from $60.00 to $62.00 and gave the stock a "market perform" rating in a report on Monday, July 20th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Commerce Bancshares has a consensus rating of "Hold" and a consensus target price of $64.29.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a financial holding company headquartered in Kansas City, Missouri. Founded in 1865, the company operates Commerce Bank, which provides banking and related financial services to individuals, businesses, institutions and government entities.

Commerce Bank offers deposit accounts, consumer and commercial lending, mortgages, treasury and payment services, credit cards, investment management, trust services and institutional banking solutions. Its businesses also include capital markets and brokerage services, supporting corporate, municipal and institutional clients.

The bank serves customers primarily through a regional network spanning Missouri, Kansas, Illinois, Oklahoma and Colorado, along with digital banking channels.

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