Commerce Bancshares (CBSH) Expected to Announce Earnings on Wednesday

Commerce Bancshares (NASDAQ:CBSH) is expected to announce its earnings results before the market opens on Wednesday, January 22nd. Analysts expect the company to announce earnings of $0.95 per share and revenue of $417,482.00 billion for the quarter.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The company had revenue of $421.38 million during the quarter, compared to analysts’ expectations of $412.85 million. On average, analysts expect Commerce Bancshares to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Commerce Bancshares Price Performance

Commerce Bancshares stock traded up $0.85 during mid-day trading on Wednesday, reaching $64.31. 544,834 shares of the company traded hands, compared to its average volume of 501,859. The firm’s fifty day moving average is $67.47 and its two-hundred day moving average is $63.28. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 2.92 and a beta of 0.79. Commerce Bancshares has a fifty-two week low of $47.09 and a fifty-two week high of $72.75.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Tuesday, December 3rd. Commerce Bancshares’s payout ratio is 28.13%.

Analyst Ratings Changes

A number of analysts have commented on CBSH shares. Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Wells Fargo & Company lifted their target price on Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods increased their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Commerce Bancshares currently has an average rating of “Hold” and an average target price of $66.75.

Insider Buying and Selling at Commerce Bancshares

In related news, EVP Kevin G. Barth sold 1,582 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $67.54, for a total transaction of $106,848.28. Following the sale, the executive vice president now owns 65,409 shares in the company, valued at approximately $4,417,723.86. This trade represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David W. Kemper sold 30,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the completion of the transaction, the chairman now owns 1,151,994 shares of the company’s stock, valued at approximately $71,170,189.32. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,398 shares of company stock valued at $2,504,665. 3.20% of the stock is owned by company insiders.

About Commerce Bancshares

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 in the United States. It operates through three segments: Consumer, Commercial, and Wealth.