Q2 2024 EPS Estimates for Commerce Bancshares, Inc. (NASDAQ:CBSH) Lifted by Zacks Research

Commerce Bancshares, Inc. (NASDAQ:CBSH) – Zacks Research raised their Q2 2024 earnings per share (EPS) estimates for shares of Commerce Bancshares in a note issued to investors on Wednesday, June 26th. Zacks Research analyst R. Department now expects that the financial services provider will post earnings per share of $0.86 for the quarter, up from their prior forecast of $0.85. The consensus estimate for Commerce Bancshares’ current full-year earnings is $3.57 per share. Zacks Research also issued estimates for Commerce Bancshares’ Q3 2024 earnings at $0.87 EPS, Q4 2024 earnings at $0.87 EPS, FY2024 earnings at $3.45 EPS, Q1 2025 earnings at $0.84 EPS, Q2 2025 earnings at $0.86 EPS, Q3 2025 earnings at $0.90 EPS, Q4 2025 earnings at $0.94 EPS, FY2025 earnings at $3.54 EPS, Q1 2026 earnings at $0.92 EPS and FY2026 earnings at $3.78 EPS.

Other equities research analysts have also issued reports about the company. Piper Sandler boosted their price objective on Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods lifted their target price on shares of Commerce Bancshares from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, May 10th. Finally, Raymond James upgraded shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price for the company in a research report on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Commerce Bancshares has an average rating of “Hold” and an average price target of $55.29.

Commerce Bancshares Stock Up 2.0 %

CBSH opened at $55.78 on Friday. The company has a market cap of $7.23 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.78 and a beta of 0.76. Commerce Bancshares has a twelve month low of $40.91 and a twelve month high of $57.48. The company has a 50-day moving average price of $55.10 and a 200 day moving average price of $53.49.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The company had revenue of $397.80 million during the quarter, compared to analysts’ expectations of $389.49 million. During the same period in the prior year, the business posted $0.90 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CBSH. United Advisor Group LLC purchased a new position in shares of Commerce Bancshares during the 4th quarter worth $3,827,000. Speece Thorson Capital Group Inc. increased its position in shares of Commerce Bancshares by 37.3% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 232,774 shares of the financial services provider’s stock valued at $12,432,000 after acquiring an additional 63,266 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Commerce Bancshares in the 4th quarter valued at approximately $1,176,000. PNC Financial Services Group Inc. lifted its holdings in shares of Commerce Bancshares by 4.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 193,619 shares of the financial services provider’s stock worth $10,341,000 after acquiring an additional 7,740 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of Commerce Bancshares by 78.0% during the 4th quarter. Rafferty Asset Management LLC now owns 151,283 shares of the financial services provider’s stock worth $8,080,000 after purchasing an additional 66,296 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Commerce Bancshares

In related news, CEO John W. Kemper sold 26,581 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $56.77, for a total value of $1,509,003.37. Following the completion of the sale, the chief executive officer now owns 198,387 shares of the company’s stock, valued at $11,262,429.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.20% of the company’s stock.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Wednesday, June 5th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Wednesday, June 5th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.12%.

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.