Commerce Bancshares (NASDAQ:CBSH) will announce its earnings results before the market opens on Thursday, April 15th. Analysts expect the company to announce earnings of $0.93 per share for the quarter.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Tuesday, January 19th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.94 by $0.17. The firm had revenue of $344.90 million for the quarter, compared to analysts' expectations of $347.85 million. Commerce Bancshares had a net margin of 23.67% and a return on equity of 10.49%. The company's revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 EPS. On average, analysts expect Commerce Bancshares to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Shares of NASDAQ CBSH opened at $77.56 on Thursday. The business has a 50-day moving average of $76.96 and a 200-day moving average of $68.03. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of 28.88 and a beta of 0.96. Commerce Bancshares has a fifty-two week low of $48.60 and a fifty-two week high of $83.06.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 24th. Investors of record on Tuesday, March 9th were issued a dividend of $0.2625 per share. The ex-dividend date was Monday, March 8th. This represents a $1.05 annualized dividend and a yield of 1.35%. Commerce Bancshares's payout ratio is presently 30.79%.
Separately, Morgan Stanley boosted their price target on Commerce Bancshares from $64.00 to $65.00 and gave the stock an "underweight" rating in a research report on Wednesday, March 24th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Commerce Bancshares currently has a consensus rating of "Hold" and an average target price of $65.75.
In related news, VP David L. Orf sold 592 shares of the business's stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $74.07, for a total transaction of $43,849.44. Following the transaction, the vice president now directly owns 13,851 shares of the company's stock, valued at approximately $1,025,943.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David L. Orf sold 2,021 shares of the stock in a transaction on Tuesday, February 9th. The shares were sold at an average price of $73.39, for a total value of $148,321.19. Following the completion of the sale, the vice president now owns 14,375 shares in the company, valued at approximately $1,054,981.25. The disclosure for this sale can be found here. Insiders have sold a total of 112,282 shares of company stock worth $8,172,628 over the last 90 days. 3.40% of the stock is owned by company insiders.
A hedge fund recently bought a new stake in Commerce Bancshares stock. OLD Mission Capital LLC bought a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,457 shares of the financial services provider's stock, valued at approximately $476,000. 62.87% of the stock is owned by institutional investors and hedge funds.
About Commerce Bancshares
Commerce Bancshares, Inc operates as a bank holding company for Commerce Bank. It provides general banking services, such as retail, corporate, investment, trust, and asset management products and services to individuals and businesses. The firm operates through the following business segments: Consumer, Commercial and Wealth.
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