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.