Research Analysts Issue Forecasts for Commerce Bancshares, Inc.'s FY2024 Earnings (NASDAQ:CBSH)

Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) - Research analysts at Zacks Research lifted their FY2024 earnings estimates for shares of Commerce Bancshares in a research report issued on Tuesday, September 24th. Zacks Research analyst R. Department now anticipates that the financial services provider will earn $3.85 per share for the year, up from their previous estimate of $3.81. The consensus estimate for Commerce Bancshares' current full-year earnings is $3.96 per share. Zacks Research also issued estimates for Commerce Bancshares' Q3 2025 earnings at $0.98 EPS, Q4 2025 earnings at $1.01 EPS and Q2 2026 earnings at $1.01 EPS.

Several other analysts also recently issued reports on CBSH. Jefferies Financial Group lifted their target price on Commerce Bancshares from $60.00 to $62.00 and gave the company a "hold" rating in a research note on Wednesday, July 3rd. Wells Fargo & Company upped their target price on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Monday, July 22nd. Finally, Morgan Stanley raised their target price on shares of Commerce Bancshares from $58.00 to $66.00 and gave the company an "equal weight" rating in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $60.00.

Commerce Bancshares Stock Up 0.2 %

NASDAQ:CBSH traded up $0.13 during mid-day trading on Friday, hitting $60.18. 78,218 shares of the company traded hands, compared to its average volume of 515,217. The stock's fifty day moving average price is $62.21 and its 200-day moving average price is $57.21. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 10.03 and a beta of 0.75. Commerce Bancshares has a one year low of $40.91 and a one year high of $65.86.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.17. The firm had revenue of $414.90 million for the quarter, compared to analysts' expectations of $406.88 million. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 EPS.

Institutional Investors Weigh In On Commerce Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Clarity Asset Management Inc. acquired a new position in shares of Commerce Bancshares during the fourth quarter valued at about $43,000. Bessemer Group Inc. increased its stake in Commerce Bancshares by 86.3% during the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 390 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Commerce Bancshares by 156.5% in the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider's stock worth $48,000 after buying an additional 521 shares during the last quarter. Eagle Bay Advisors LLC lifted its stake in shares of Commerce Bancshares by 2,864.7% during the second quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider's stock worth $56,000 after buying an additional 974 shares during the period. Finally, LRI Investments LLC purchased a new stake in shares of Commerce Bancshares during the first quarter valued at $90,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Activity at Commerce Bancshares

In related news, VP David L. Orf sold 2,102 shares of Commerce Bancshares stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $64.83, for a total transaction of $136,272.66. Following the completion of the sale, the vice president now owns 19,140 shares in the company, valued at approximately $1,240,846.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP David L. Orf sold 2,102 shares of the company's stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $64.83, for a total value of $136,272.66. Following the completion of the sale, the vice president now directly owns 19,140 shares of the company's stock, valued at $1,240,846.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the firm's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $62.23, for a total transaction of $124,460.00. Following the transaction, the senior vice president now directly owns 23,381 shares in the company, valued at approximately $1,454,999.63. The disclosure for this sale can be found here. Insiders sold a total of 49,612 shares of company stock worth $3,184,609 in the last quarter. 3.20% of the stock is owned by company insiders.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Thursday, September 5th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Thursday, September 5th. Commerce Bancshares's payout ratio is currently 30.12%.

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.