Commerce Bancshares, Inc. (NASDAQ:CBSH) – Stock analysts at Jefferies Financial Group upped their Q2 2019 earnings estimates for shares of Commerce Bancshares in a research note issued to investors on Tuesday, July 9th. Jefferies Financial Group analyst C. Haire now expects that the financial services provider will post earnings per share of $0.99 for the quarter, up from their prior estimate of $0.97.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, April 11th. The financial services provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.06). Commerce Bancshares had a return on equity of 15.65% and a net margin of 30.39%. The business had revenue of $324.73 million for the quarter, compared to the consensus estimate of $333.99 million.
Other equities analysts have also recently issued research reports about the company. BidaskClub upgraded Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Raymond James cut First Midwest Bancorp to a “hold” rating in a report on Monday, July 8th. DA Davidson reduced their price target on Commerce Bancshares to $60.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Stephens began coverage on Falcon Minerals in a report on Thursday, April 11th. They set an “overweight” rating and a $12.00 price target for the company. Finally, Zacks Investment Research upgraded Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a report on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $58.91.
Commerce Bancshares stock opened at $59.28 on Friday. Commerce Bancshares has a 52 week low of $53.40 and a 52 week high of $72.55. The company has a market capitalization of $6.55 billion, a PE ratio of 15.68, a P/E/G ratio of 2.02 and a beta of 0.73. The stock’s 50-day simple moving average is $58.93.
Several large investors have recently modified their holdings of the company. LPL Financial LLC increased its stake in Commerce Bancshares by 4.3% during the fourth quarter. LPL Financial LLC now owns 14,158 shares of the financial services provider’s stock worth $798,000 after purchasing an additional 586 shares during the period. Bank of New York Mellon Corp increased its stake in Commerce Bancshares by 5.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,251,364 shares of the financial services provider’s stock worth $70,540,000 after purchasing an additional 66,534 shares during the period. Commonwealth Equity Services LLC increased its stake in Commerce Bancshares by 1.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,503 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 169 shares during the period. Advisor Group Inc. increased its stake in Commerce Bancshares by 12.8% during the fourth quarter. Advisor Group Inc. now owns 5,644 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 640 shares during the period. Finally, O Shaughnessy Asset Management LLC purchased a new stake in Commerce Bancshares during the fourth quarter worth about $48,000. Institutional investors own 63.02% of the company’s stock.
In other news, insider John K. Handy sold 3,541 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.79, for a total transaction of $218,798.39. Following the completion of the sale, the insider now owns 35,251 shares in the company, valued at $2,178,159.29. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.60% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Thursday, June 6th. Commerce Bancshares’s dividend payout ratio is presently 27.51%.
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. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.
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