Commerce Bancshares (CBSH) to Release Quarterly Earnings on Wednesday

Commerce Bancshares (NASDAQ:CBSH) is projected to issue its quarterly earnings data 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 announced its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The business had revenue of $421.38 million during the quarter, compared to analyst estimates 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 Trading Up 1.3 %

Shares of NASDAQ CBSH traded up $0.85 during midday trading on Wednesday, hitting $64.31. The company’s stock had a trading volume of 544,834 shares, compared to its average volume of 501,859. Commerce Bancshares has a 12-month low of $47.09 and a 12-month high of $72.75. The firm has a market cap of $8.25 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 2.92 and a beta of 0.79. The business’s 50 day moving average is $67.47 and its two-hundred day moving average is $63.28.

Commerce Bancshares Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CBSH. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday. Keefe, Bruyette & Woods raised their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $66.00 to $64.00 in a report on Monday, September 30th. Finally, Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Commerce Bancshares has an average rating of “Hold” and an average price target of $66.75.

Insider Activity

In other Commerce Bancshares news, SVP Douglas D. Neff sold 888 shares of Commerce Bancshares stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total value of $64,024.80. Following the transaction, the senior vice president now owns 8,038 shares in the company, valued at $579,539.80. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Patricia R. Kellerhals sold 500 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $68.55, for a total transaction of $34,275.00. Following the sale, the senior vice president now directly owns 22,265 shares of the company’s stock, valued at approximately $1,526,265.75. The trade was a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,398 shares of company stock worth $2,504,665. Corporate insiders own 3.20% 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 in the United States. It operates through three segments: Consumer, Commercial, and Wealth.