$309.25 Million in Sales Expected for Commerce Bancshares, Inc. (CBSH) This Quarter

Wall Street brokerages expect that Commerce Bancshares, Inc. (NASDAQ:CBSH) will post sales of $309.25 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Commerce Bancshares’ earnings. The highest sales estimate is $313.80 million and the lowest is $306.56 million. Commerce Bancshares reported sales of $292.68 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The firm is scheduled to issue its next earnings results before the market opens on Wednesday, January 17th.

On average, analysts expect that Commerce Bancshares will report full year sales of $309.25 million for the current financial year, with estimates ranging from $1.21 billion to $1.25 billion. For the next fiscal year, analysts expect that the business will post sales of $1.28 billion per share, with estimates ranging from $1.26 billion to $1.32 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Commerce Bancshares.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, October 12th. The financial services provider reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Commerce Bancshares had a return on equity of 12.08% and a net margin of 23.93%. The firm had revenue of $304.83 million during the quarter, compared to analysts’ expectations of $317.28 million. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Commerce Bancshares’s revenue was up 4.9% on a year-over-year basis.

A number of equities analysts recently weighed in on CBSH shares. Zacks Investment Research lowered shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $51.00 target price on shares of Commerce Bancshares in a research report on Friday, September 15th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $60.00 target price on shares of Commerce Bancshares in a research report on Friday, October 6th. Finally, BidaskClub downgraded shares of Commerce Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 16th. Six investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The company has a consensus rating of “Sell” and a consensus target price of $56.63.

Commerce Bancshares (NASDAQ CBSH) opened at $56.79 on Friday. Commerce Bancshares has a 1-year low of $51.90 and a 1-year high of $60.61. The firm has a market cap of $6,060.00, a P/E ratio of 21.03, a P/E/G ratio of 3.29 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.68 and a quick ratio of 0.68.

The business also recently announced a quarterly dividend, which was paid on Monday, December 18th. Shareholders of record on Thursday, November 30th were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Wednesday, November 29th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 33.58%.

In other news, insider V Raymond Stranghoener sold 6,399 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $58.40, for a total transaction of $373,701.60. Following the completion of the sale, the insider now owns 47,112 shares of the company’s stock, valued at approximately $2,751,340.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $55.06, for a total transaction of $3,028,300.00. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Commerce Bancshares by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 8,599,122 shares of the financial services provider’s stock valued at $488,688,000 after acquiring an additional 246,065 shares during the period. BlackRock Inc. grew its position in shares of Commerce Bancshares by 1.1% during the 2nd quarter. BlackRock Inc. now owns 7,591,937 shares of the financial services provider’s stock valued at $431,451,000 after acquiring an additional 82,095 shares during the period. FMR LLC boosted its holdings in Commerce Bancshares by 2.0% in the 2nd quarter. FMR LLC now owns 2,029,867 shares of the financial services provider’s stock worth $115,357,000 after buying an additional 40,600 shares during the period. Lazard Asset Management LLC boosted its holdings in Commerce Bancshares by 27.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,448,515 shares of the financial services provider’s stock worth $82,318,000 after buying an additional 308,460 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Commerce Bancshares by 3.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,083,851 shares of the financial services provider’s stock worth $62,613,000 after buying an additional 35,361 shares during the period. 59.14% of the stock is owned by hedge funds and other institutional investors.

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Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

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

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