Commerce Bancshares (NASDAQ:CBSH) Releases Earnings Results

Commerce Bancshares (NASDAQ:CBSH) posted its earnings results on Wednesday. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06, Zacks reports. The firm had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417,482 billion. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.84 EPS.

Commerce Bancshares Stock Performance

CBSH stock opened at $65.48 on Wednesday. Commerce Bancshares has a one year low of $47.09 and a one year high of $72.75. The stock has a market capitalization of $8.40 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. The company has a fifty day moving average of $66.90 and a 200-day moving average of $63.60.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

Insider Transactions at Commerce Bancshares

In related news, SVP Douglas D. Neff sold 888 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total transaction of $64,024.80. Following the sale, the senior vice president now owns 8,038 shares of the company’s stock, valued at approximately $579,539.80. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin G. Barth sold 1,582 shares of Commerce Bancshares stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total transaction of $106,848.28. Following the transaction, the executive vice president now owns 65,409 shares of the company’s stock, valued at approximately $4,417,723.86. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,398 shares of company stock worth $651,265. Company insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CBSH shares. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods increased their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Morgan Stanley cut shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Finally, Wells Fargo & Company increased their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $66.75.

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.