Commerce Bancshares (CBSH) Projected to Post Quarterly Earnings on Wednesday

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) is projected to release its earnings data before the market opens on Wednesday, April 16th. Analysts expect Commerce Bancshares to post earnings of $0.92 per share and revenue of $417.85 million for the quarter.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced 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. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company had revenue of $422.10 million for the quarter, compared to analysts' expectations of $417.48 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Commerce Bancshares's quarterly revenue was up 7.3% on a year-over-year basis. On average, analysts expect Commerce Bancshares to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Commerce Bancshares Stock Up 1.2 %

Commerce Bancshares stock traded up $0.69 during midday trading on Friday, hitting $56.88. 609,094 shares of the stock were exchanged, compared to its average volume of 584,948. Commerce Bancshares has a 52-week low of $48.49 and a 52-week high of $72.75. The business's 50-day moving average price is $62.36 and its 200-day moving average price is $64.15. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71.

Commerce Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from Commerce Bancshares's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, March 7th. Commerce Bancshares's payout ratio is presently 27.43%.

Insider Buying and Selling at Commerce Bancshares

In other 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 completion of the sale, the executive vice president now directly owns 45,511 shares in the company, valued at $3,006,456.66. The trade was a 35.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John W. Kemper sold 26,042 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total transaction of $1,752,105.76. Following the completion of the sale, the chief executive officer now directly owns 211,929 shares of the company's stock, valued at approximately $14,258,583.12. This trade represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,434 shares of company stock valued at $5,248,272. Corporate insiders own 3.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CBSH. Wells Fargo & Company lowered their price objective on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Morgan Stanley upgraded Commerce Bancshares from an "underweight" rating to an "equal weight" rating and dropped their target price for the stock from $66.00 to $58.00 in a research report on Monday, April 7th. StockNews.com upgraded Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Wednesday. Piper Sandler raised their target price on Commerce Bancshares from $69.00 to $72.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Finally, Raymond James cut Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 19th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $65.17.

Commerce Bancshares Company Profile

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.