Today The Equities Analysts Offer Predictions for Commerce Bancshares, Inc.’s Q3 2017 Earnings (CBSH)

Today The Equities Analysts Offer Predictions for Commerce Bancshares, Inc.’s Q3 2017 Earnings (CBSH)

Commerce Bancshares, Inc. (NASDAQ:CBSH) – Research analysts at FIG Partners lowered their Q3 2017 earnings estimates for shares of Commerce Bancshares in a report released on Thursday. FIG Partners analyst J. Rodis now anticipates that the brokerage will post earnings per share of $0.67 for the quarter, down from their previous forecast of $0.70. FIG Partners also issued estimates for Commerce Bancshares’ FY2017 earnings at $2.72 EPS and Q1 2018 earnings at $0.62 EPS.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The firm earned $292.70 million during the quarter, compared to the consensus estimate of $299.84 million. Commerce Bancshares had a return on equity of 11.65% and a net margin of 23.19%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS.

Several other research analysts have also commented on CBSH. Wells Fargo & Company assumed coverage on Commerce Bancshares in a research report on Friday, January 6th. They issued a “market perform” rating on the stock. Zacks Investment Research lowered Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Barclays PLC raised their price objective on Commerce Bancshares from $47.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 6th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $48.30.

Commerce Bancshares (NASDAQ:CBSH) traded up 0.64% during mid-day trading on Monday, reaching $56.18. The company’s stock had a trading volume of 109,519 shares. The stock’s 50-day moving average is $57.51 and its 200-day moving average is $50.29. The firm has a market capitalization of $5.70 billion, a PE ratio of 21.52 and a beta of 0.74. Commerce Bancshares has a 12 month low of $37.04 and a 12 month high of $59.22.

In other news, insider John W. Kemper sold 2,400 shares of the firm’s stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $58.15, for a total transaction of $139,560.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles G. Kim sold 7,804 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $57.76, for a total value of $450,759.04. Following the sale, the insider now owns 111,431 shares of the company’s stock, valued at $6,436,254.56. The disclosure for this sale can be found here. Insiders have sold 14,987 shares of company stock valued at $867,637 over the last 90 days. Insiders own 4.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Commerce Bancshares by 59.1% in the second quarter. BlackRock Inc. now owns 167,214 shares of the financial services provider’s stock worth $8,009,000 after buying an additional 62,133 shares during the period. BlackRock Investment Management LLC increased its position in Commerce Bancshares by 1.3% in the second quarter. BlackRock Investment Management LLC now owns 246,026 shares of the financial services provider’s stock worth $11,785,000 after buying an additional 3,051 shares during the period. BlackRock Advisors LLC increased its position in Commerce Bancshares by 8.5% in the second quarter. BlackRock Advisors LLC now owns 46,547 shares of the financial services provider’s stock worth $2,230,000 after buying an additional 3,656 shares during the period. Vanguard Group Inc. increased its position in Commerce Bancshares by 3.3% in the second quarter. Vanguard Group Inc. now owns 6,706,151 shares of the financial services provider’s stock worth $321,225,000 after buying an additional 217,230 shares during the period. Finally, Principal Financial Group Inc. increased its position in Commerce Bancshares by 88.0% in the second quarter. Principal Financial Group Inc. now owns 518,053 shares of the financial services provider’s stock worth $24,827,000 after buying an additional 242,451 shares during the period. Institutional investors own 58.21% of the company’s stock.

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, 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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