Brokers Offer Predictions for Commerce Bancshares, Inc.’s Q4 2017 Earnings (CBSH)

Commerce Bancshares, Inc. (NASDAQ:CBSH) – Stock analysts at Jefferies Group increased their Q4 2017 earnings per share estimates for shares of Commerce Bancshares in a report issued on Monday. Jefferies Group analyst C. Haire now anticipates that the financial services provider will post earnings per share of $0.75 for the quarter, up from their prior estimate of $0.73.

Several other equities analysts have also recently issued reports on CBSH. Keefe, Bruyette & Woods reissued a “sell” rating and issued a $51.00 price objective on shares of Commerce Bancshares in a report on Friday, September 15th. Zacks Investment Research cut Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Piper Jaffray Companies reissued a “neutral” rating and issued a $60.00 price objective on shares of Commerce Bancshares in a report on Friday, October 6th. BidaskClub cut Commerce Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, December 16th. Finally, Barclays reissued a “hold” rating and issued a $55.00 price objective on shares of Commerce Bancshares in a report on Sunday, December 24th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $56.25.

Commerce Bancshares (NASDAQ CBSH) opened at $55.73 on Tuesday. The stock has a market capitalization of $5,950.00, a PE ratio of 20.79, a PEG ratio of 3.05 and a beta of 0.80. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.04. Commerce Bancshares has a fifty-two week low of $51.90 and a fifty-two week high of $60.61.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, October 12th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.03). The company had revenue of $304.83 million during the quarter, compared to analyst estimates of $317.28 million. Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 18th. Investors of record on Thursday, November 30th were issued a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.61%. Commerce Bancshares’s payout ratio is 33.58%.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its holdings in shares of Commerce Bancshares by 1.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 468,110 shares of the financial services provider’s stock valued at $26,603,000 after acquiring an additional 8,179 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Commerce Bancshares by 21.2% during the second quarter. Victory Capital Management Inc. now owns 29,862 shares of the financial services provider’s stock valued at $1,697,000 after acquiring an additional 5,214 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Commerce Bancshares by 65.8% during the second quarter. Prudential Financial Inc. now owns 107,842 shares of the financial services provider’s stock valued at $6,129,000 after acquiring an additional 42,780 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Commerce Bancshares by 8.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock valued at $190,000 after acquiring an additional 264 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Commerce Bancshares by 4.4% during the second quarter. Principal Financial Group Inc. now owns 371,249 shares of the financial services provider’s stock valued at $21,122,000 after acquiring an additional 15,634 shares during the last quarter. 59.14% of the stock is owned by institutional investors.

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About Commerce Bancshares

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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