Commerce Bancshares (CBSH) Expected to Announce Quarterly Earnings on Wednesday

Commerce Bancshares (NASDAQ:CBSH) will likely be posting its quarterly earnings results before the market opens on Wednesday, April 16th. Analysts expect Commerce Bancshares to post earnings of $0.92 per share and revenue of $417.85 million for the quarter.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.06. The firm had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. Commerce Bancshares’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 EPS. 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

NASDAQ CBSH opened at $56.88 on Monday. The company has a market cap of $7.63 billion, a P/E ratio of 14.18, a P/E/G ratio of 2.13 and a beta of 0.71. The stock has a 50-day moving average of $62.36 and a two-hundred day moving average of $64.15. Commerce Bancshares has a 1-year low of $48.49 and a 1-year high of $72.75.

Commerce Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were issued a $0.275 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s payout ratio is 27.43%.

Analyst Upgrades and Downgrades

Several research firms have commented on CBSH. Wells Fargo & Company dropped their price target on shares of Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 9th. Morgan Stanley upgraded Commerce Bancshares from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $66.00 to $58.00 in a report on Monday, April 7th. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, Piper Sandler upped their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $65.17.

Insider Activity

In other news, CFO Charles G. Kim sold 13,493 shares of Commerce Bancshares stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $67.76, for a total transaction of $914,285.68. Following the sale, the chief financial officer now owns 86,246 shares in the company, valued at approximately $5,844,028.96. The trade was a 13.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP David L. Orf sold 1,036 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total value of $70,696.64. Following the completion of the sale, the vice president now directly owns 22,175 shares of the company’s stock, valued at approximately $1,513,222. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,434 shares of company stock worth $5,248,272. 3.10% of the stock is currently owned by 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.