What is Zacks Research's Estimate for CBSH FY2024 Earnings?

Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) - Research analysts at Zacks Research boosted their FY2024 EPS estimates for Commerce Bancshares in a report released on Thursday, November 7th. Zacks Research analyst R. Department now expects that the financial services provider will earn $3.97 per share for the year, up from their prior forecast of $3.88. The consensus estimate for Commerce Bancshares' current full-year earnings is $4.02 per share. Zacks Research also issued estimates for Commerce Bancshares' Q4 2024 earnings at $0.97 EPS, Q1 2026 earnings at $1.04 EPS, Q2 2026 earnings at $1.03 EPS, Q3 2026 earnings at $1.07 EPS and FY2026 earnings at $4.22 EPS.

A number of other research analysts have also recently commented on the stock. Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the stock a "neutral" rating in a report on Friday, October 18th. StockNews.com upgraded shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Friday, October 18th. Wells Fargo & Company increased their target price on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock an "equal weight" rating in a report on Monday, July 22nd. Finally, Morgan Stanley cut shares of Commerce Bancshares from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $61.79.

Commerce Bancshares Price Performance

Shares of CBSH traded up $2.58 during midday trading on Monday, hitting $72.03. The stock had a trading volume of 259,586 shares, compared to its average volume of 533,338. Commerce Bancshares has a 1 year low of $42.48 and a 1 year high of $72.74. The firm has a market cap of $9.24 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 3.76 and a beta of 0.73. The stock's 50 day moving average is $61.55 and its 200 day moving average is $59.21.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The business had revenue of $421.38 million for the quarter, compared to the consensus estimate of $412.85 million.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CBSH. V Square Quantitative Management LLC acquired a new stake in Commerce Bancshares in the third quarter valued at $26,000. Allworth Financial LP boosted its stake in shares of Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 192 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Commerce Bancshares during the third quarter valued at $39,000. Bessemer Group Inc. boosted its stake in shares of Commerce Bancshares by 86.3% during the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 390 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Commerce Bancshares by 156.5% during the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 521 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insiders Place Their Bets

In other news, Chairman David W. Kemper sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the sale, the chairman now owns 1,151,994 shares of the company's stock, valued at $71,170,189.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Commerce Bancshares news, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total value of $1,853,400.00. Following the completion of the transaction, the chairman now owns 1,151,994 shares in the company, valued at approximately $71,170,189.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the completion of the transaction, the senior vice president now owns 23,381 shares of the company's stock, valued at $1,454,999.63. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,331 shares of company stock valued at $2,062,778. 3.20% of the stock is owned by insiders.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares's payout ratio is currently 28.13%.

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 in the United States. It operates through three segments: Consumer, Commercial, and Wealth.