$310.12 Million in Sales Expected for Commerce Bancshares, Inc. (CBSH) This Quarter

Brokerages forecast that Commerce Bancshares, Inc. (NASDAQ:CBSH) will report $310.12 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Commerce Bancshares’ earnings, with the highest sales estimate coming in at $312.50 million and the lowest estimate coming in at $306.83 million. Commerce Bancshares posted sales of $295.34 million in the same quarter last year, which would indicate a positive year over year growth rate of 5%. The business is expected to issue its next earnings results on Thursday, April 12th.

On average, analysts expect that Commerce Bancshares will report full year sales of $310.12 million for the current fiscal year, with estimates ranging from $1.24 billion to $1.32 billion. For the next year, analysts forecast that the business will report sales of $1.34 billion per share, with estimates ranging from $1.30 billion to $1.38 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Commerce Bancshares.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Commerce Bancshares had a net margin of 25.27% and a return on equity of 12.22%. The business had revenue of $314.22 million during the quarter, compared to the consensus estimate of $312.98 million.

CBSH has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. BidaskClub downgraded shares of Commerce Bancshares from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 16th. Barclays reiterated a “hold” rating and set a $55.00 price objective on shares of Commerce Bancshares in a report on Sunday, December 24th. Piper Jaffray Companies reiterated a “hold” rating and set a $58.00 price objective on shares of Commerce Bancshares in a report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reiterated a “sell” rating and set a $54.00 price objective on shares of Commerce Bancshares in a report on Friday, January 19th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $57.88.

Shares of Commerce Bancshares (NASDAQ CBSH) traded up $0.35 during midday trading on Friday, reaching $61.49. 1,762,075 shares of the company were exchanged, compared to its average volume of 430,697. Commerce Bancshares has a fifty-two week low of $51.90 and a fifty-two week high of $61.83. The company has a market capitalization of $6,535.35, a P/E ratio of 21.22, a PEG ratio of 2.29 and a beta of 0.76.

The company also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Friday, March 9th will be issued a dividend of $0.235 per share. The ex-dividend date of this dividend is Thursday, March 8th. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.23. This represents a $0.94 annualized dividend and a yield of 1.53%. Commerce Bancshares’s payout ratio is 32.44%.

In related news, Vice Chairman Jonathan M. Kemper sold 33,424 shares of the business’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $61.04, for a total transaction of $2,040,200.96. Following the transaction, the insider now directly owns 1,059,102 shares in the company, valued at $64,647,586.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Charles G. Kim sold 6,909 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $58.66, for a total transaction of $405,281.94. Following the transaction, the chief financial officer now owns 87,303 shares in the company, valued at $5,121,193.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,446 shares of company stock worth $9,859,042. 4.30% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Xact Kapitalforvaltning AB bought a new stake in Commerce Bancshares in the fourth quarter worth about $423,000. Paragon Capital Management LLC increased its holdings in Commerce Bancshares by 5.0% during the 4th quarter. Paragon Capital Management LLC now owns 98,454 shares of the financial services provider’s stock worth $5,497,000 after acquiring an additional 4,687 shares during the period. MetLife Investment Advisors LLC bought a new stake in Commerce Bancshares during the 4th quarter worth approximately $3,318,000. Municipal Employees Retirement System of Michigan increased its holdings in Commerce Bancshares by 5.2% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 28,447 shares of the financial services provider’s stock worth $1,589,000 after acquiring an additional 1,404 shares during the period. Finally, Glenmede Trust Co. NA increased its holdings in Commerce Bancshares by 10.9% during the 4th quarter. Glenmede Trust Co. NA now owns 14,441 shares of the financial services provider’s stock worth $806,000 after acquiring an additional 1,420 shares during the period. 62.78% of the stock is currently owned by institutional investors and hedge funds.

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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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Earnings History and Estimates for Commerce Bancshares (NASDAQ:CBSH)

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