Jefferies Group Analysts Cut Earnings Estimates for Commerce Bancshares, Inc. (CBSH)

Commerce Bancshares, Inc. (NASDAQ:CBSH) – Equities research analysts at Jefferies Group lowered their Q3 2017 earnings estimates for Commerce Bancshares in a report released on Monday. Jefferies Group analyst C. Haire now expects that the financial services provider will post earnings per share of $0.74 for the quarter, down from their previous estimate of $0.75. Jefferies Group has a “Hold” rating and a $61.00 price target on the stock. Jefferies Group also issued estimates for Commerce Bancshares’ FY2017 earnings at $2.94 EPS.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. The firm had revenue of $305.89 million during the quarter, compared to the consensus estimate of $309.44 million. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 earnings per share.

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A number of other analysts have also recently issued reports on the company. BidaskClub cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research report on Tuesday, September 5th. Barclays PLC set a $58.00 price objective on Commerce Bancshares and gave the company a “hold” rating in a research report on Sunday, July 16th. Piper Jaffray Companies restated a “hold” rating and set a $52.00 price objective on shares of Commerce Bancshares in a research report on Friday, July 14th. Finally, Stephens restated an “equal weight” rating and set a $56.00 price objective (up from $52.00) on shares of Commerce Bancshares in a research report on Monday, July 17th. Five investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $56.63.

Commerce Bancshares (NASDAQ:CBSH) opened at 58.44 on Wednesday. The firm has a 50-day moving average of $55.81 and a 200-day moving average of $55.94. Commerce Bancshares has a 12-month low of $47.64 and a 12-month high of $60.61. The firm has a market cap of $5.94 billion, a P/E ratio of 21.17 and a beta of 0.83.

A number of institutional investors have recently bought and sold shares of the business. Intl Fcstone Inc. boosted its stake in Commerce Bancshares by 120.6% in the second quarter. Intl Fcstone Inc. now owns 24,892 shares of the financial services provider’s stock worth $1,415,000 after purchasing an additional 13,606 shares in the last quarter. Cetera Investment Advisers acquired a new position in Commerce Bancshares in the second quarter worth $272,000. Ameritas Investment Partners Inc. boosted its stake in Commerce Bancshares by 3.6% in the second quarter. Ameritas Investment Partners Inc. now owns 34,152 shares of the financial services provider’s stock worth $1,940,000 after purchasing an additional 1,191 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Commerce Bancshares by 64.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 57,616 shares of the financial services provider’s stock worth $3,274,000 after purchasing an additional 22,496 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Commerce Bancshares by 10.3% in the second quarter. The Manufacturers Life Insurance Company now owns 755,584 shares of the financial services provider’s stock worth $42,940,000 after purchasing an additional 70,376 shares in the last quarter. 62.20% of the stock is currently owned by institutional investors.

In other Commerce Bancshares news, Chairman David W. Kemper sold 10,132 shares of the business’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $57.83, for a total value of $585,933.56. Following the transaction, the chairman now owns 1,270,757 shares of the company’s stock, valued at $73,487,877.31. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jeffery D. Aberdeen sold 687 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $59.09, for a total value of $40,594.83. Following the completion of the transaction, the insider now directly owns 40,232 shares in the company, valued at approximately $2,377,308.88. The disclosure for this sale can be found here. Insiders sold 20,819 shares of company stock worth $1,174,728 over the last quarter. Company insiders own 4.30% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Monday, September 25th. Shareholders of record on Friday, September 8th were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Thursday, September 7th. Commerce Bancshares’s dividend payout ratio (DPR) is 32.64%.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

Earnings History and Estimates for Commerce Bancshares (NASDAQ:CBSH)

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