Commerce Bancshares, Inc. (NASDAQ:CBSH) – Jefferies Group lifted their FY2018 earnings estimates for 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 $3.42 for the year, up from their prior forecast of $3.00. Jefferies Group also issued estimates for Commerce Bancshares’ FY2019 earnings at $3.67 EPS.

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

A number of other equities analysts have also recently issued reports on the stock. BidaskClub raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $58.00 price objective on shares of Commerce Bancshares in a research note on Tuesday. Zacks Investment Research raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Monday. Finally, Barclays raised their price objective on shares of Commerce Bancshares from $55.00 to $59.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $56.25.

Shares of Commerce Bancshares (CBSH) traded down $0.11 during mid-day trading on Wednesday, reaching $57.95. 626,616 shares of the company’s stock were exchanged, compared to its average volume of 446,844. Commerce Bancshares has a 1 year low of $51.90 and a 1 year high of $60.61. The company has a market capitalization of $6,120.00, a PE ratio of 21.62, a PEG ratio of 3.05 and a beta of 0.80. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.04.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in Commerce Bancshares by 3.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,083,851 shares of the financial services provider’s stock valued at $62,613,000 after acquiring an additional 35,361 shares in the last quarter. Cetera Investment Advisers bought a new stake in Commerce Bancshares in the 2nd quarter valued at $272,000. Nuance Investments LLC lifted its position in Commerce Bancshares by 4.3% in the 3rd quarter. Nuance Investments LLC now owns 996,414 shares of the financial services provider’s stock valued at $57,563,000 after acquiring an additional 40,997 shares in the last quarter. Schroder Investment Management Group lifted its position in Commerce Bancshares by 1.5% in the 3rd quarter. Schroder Investment Management Group now owns 844,628 shares of the financial services provider’s stock valued at $48,491,000 after acquiring an additional 12,843 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in Commerce Bancshares by 1.8% in the 2nd 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 in the last quarter. 59.14% of the stock is currently owned by institutional investors and hedge funds.

In other news, Vice Chairman Jonathan M. Kemper sold 55,000 shares of Commerce Bancshares stock in a transaction on Monday, December 11th. The shares were sold at an average price of $55.06, for a total transaction of $3,028,300.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider V Raymond Stranghoener sold 6,399 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $58.40, for a total transaction of $373,701.60. Following the completion of the sale, the insider now directly owns 47,112 shares in the company, valued at $2,751,340.80. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.

The company also recently declared a quarterly dividend, which was paid on Monday, December 18th. Stockholders of record on Thursday, November 30th were given a dividend of $0.225 per share. The ex-dividend date was Wednesday, November 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.55%. Commerce Bancshares’s dividend payout ratio is 33.58%.

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Commerce Bancshares Company Profile

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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