Commerce Bancshares, Inc. (NASDAQ:CBSH) – Jefferies Financial Group boosted their Q2 2019 earnings per share estimates for Commerce Bancshares in a research report issued on Monday, April 1st, Zacks Investment Research reports. Jefferies Financial Group analyst C. Haire now forecasts that the financial services provider will post earnings per share of $0.99 for the quarter, up from their prior estimate of $0.97. Jefferies Financial Group also issued estimates for Commerce Bancshares’ Q4 2019 earnings at $0.97 EPS.
Several other research firms have also commented on CBSH. BidaskClub lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Raymond James upgraded Commerce Bancshares from an “underperform” rating to a “market perform” rating and set a $60.43 price target for the company in a research report on Friday, January 18th. They noted that the move was a valuation call. Zacks Investment Research lowered Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. DA Davidson dropped their price target on Commerce Bancshares to $60.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Finally, Stephens reiterated a “hold” rating and issued a $62.00 price target on shares of Commerce Bancshares in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $62.68.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, April 11th. The financial services provider reported $0.85 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.06). The company had revenue of $324.73 million during the quarter, compared to analysts’ expectations of $333.99 million. Commerce Bancshares had a return on equity of 15.65% and a net margin of 30.39%.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.04 annualized dividend and a dividend yield of 1.71%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 27.51%.
In other Commerce Bancshares news, VP Daniel D. Callahan sold 787 shares of the business’s stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $60.74, for a total transaction of $47,802.38. Following the completion of the transaction, the vice president now owns 25,848 shares in the company, valued at $1,570,007.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David W. Kemper sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $59.81, for a total value of $1,196,200.00. Following the transaction, the director now owns 1,319,624 shares of the company’s stock, valued at approximately $78,926,711.44. The disclosure for this sale can be found here. Insiders have sold 90,793 shares of company stock valued at $5,534,229 in the last 90 days. Company insiders own 3.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CBSH. Janus Henderson Group PLC boosted its holdings in shares of Commerce Bancshares by 22.8% in the third quarter. Janus Henderson Group PLC now owns 83,794 shares of the financial services provider’s stock valued at $5,532,000 after purchasing an additional 15,565 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Commerce Bancshares by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 1,184,830 shares of the financial services provider’s stock valued at $78,221,000 after purchasing an additional 11,643 shares during the period. BlackRock Inc. boosted its holdings in shares of Commerce Bancshares by 1.8% in the third quarter. BlackRock Inc. now owns 8,645,063 shares of the financial services provider’s stock valued at $570,749,000 after purchasing an additional 150,113 shares during the period. Credit Suisse AG boosted its holdings in shares of Commerce Bancshares by 20.2% in the third quarter. Credit Suisse AG now owns 99,546 shares of the financial services provider’s stock valued at $6,572,000 after purchasing an additional 16,742 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of Commerce Bancshares in the third quarter valued at approximately $247,000. Hedge funds and other institutional investors own 64.19% of the company’s stock.
Commerce Bancshares Company Profile
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. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.
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