Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) - Investment analysts at Zacks Research lifted their FY2027 EPS estimates for shares of Commerce Bancshares in a report released on Thursday, March 20th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings per share of $4.47 for the year, up from their previous estimate of $4.42. The consensus estimate for Commerce Bancshares' current full-year earnings is $3.94 per share.
Several other brokerages have also issued reports on CBSH. Wells Fargo & Company raised their target price on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 29th. Piper Sandler raised their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Raymond James lowered shares of Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 19th. StockNews.com raised shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Monday, January 13th. Finally, Morgan Stanley reduced their price objective on shares of Commerce Bancshares from $72.00 to $66.00 and set an "underweight" rating on the stock in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $68.17.
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Shares of NASDAQ CBSH opened at $61.24 on Monday. The firm has a market capitalization of $8.21 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. Commerce Bancshares has a 1 year low of $48.49 and a 1 year high of $72.75. The firm's 50-day moving average is $64.42 and its 200-day moving average is $64.43.
Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. The company had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The company's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS.
A number of institutional investors have recently bought and sold shares of CBSH. Pathstone Holdings LLC raised its holdings in shares of Commerce Bancshares by 5.4% in the third quarter. Pathstone Holdings LLC now owns 29,020 shares of the financial services provider's stock valued at $1,724,000 after purchasing an additional 1,492 shares during the last quarter. Raymond James Trust N.A. raised its holdings in shares of Commerce Bancshares by 7.0% in the third quarter. Raymond James Trust N.A. now owns 4,452 shares of the financial services provider's stock valued at $264,000 after purchasing an additional 292 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Commerce Bancshares by 11.7% in the third quarter. Citigroup Inc. now owns 130,134 shares of the financial services provider's stock valued at $7,730,000 after purchasing an additional 13,681 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Commerce Bancshares by 40.7% in the third quarter. Cerity Partners LLC now owns 74,872 shares of the financial services provider's stock valued at $4,447,000 after purchasing an additional 21,664 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Commerce Bancshares by 9.3% in the third quarter. Daiwa Securities Group Inc. now owns 7,557 shares of the financial services provider's stock valued at $449,000 after purchasing an additional 642 shares during the last quarter. Institutional investors own 70.26% of the company's stock.
In other Commerce Bancshares news, EVP Kevin G. Barth sold 24,870 shares of Commerce Bancshares stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $66.06, for a total value of $1,642,912.20. Following the transaction, the executive vice president now owns 45,511 shares of the company's stock, valued at approximately $3,006,456.66. The trade was a 35.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David L. Orf sold 1,036 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $70,696.64. Following the completion of the transaction, the vice president now directly owns 22,175 shares in the company, valued at approximately $1,513,222. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,434 shares of company stock valued at $5,248,272. 3.20% of the stock is currently owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be paid a $0.275 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.80%. This is a positive change from Commerce Bancshares's previous quarterly dividend of $0.27. Commerce Bancshares's payout ratio is presently 27.43%.
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.
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