Commerce Bancshares (NASDAQ:CBSH) Announces Earnings Results, Beats Estimates By $0.06 EPS

Commerce Bancshares (NASDAQ:CBSH) announced its quarterly earnings data on Wednesday. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06, Zacks reports. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $65.48 on Wednesday. The stock has a market cap 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. Commerce Bancshares has a fifty-two week low of $47.09 and a fifty-two week high of $72.75. The stock’s 50-day moving average is $66.90 and its two-hundred day moving average is $63.60.

Commerce Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, December 3rd. Commerce Bancshares’s payout ratio is 28.13%.

Insider Buying and Selling

In other Commerce Bancshares news, SVP Douglas D. Neff sold 888 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total value of $64,024.80. Following the completion of the sale, the senior vice president now directly owns 8,038 shares of the company’s stock, valued at $579,539.80. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Patricia R. Kellerhals sold 500 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $68.55, for a total transaction of $34,275.00. Following the transaction, the senior vice president now owns 22,265 shares in the company, valued at $1,526,265.75. This represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,398 shares of company stock worth $651,265. 3.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CBSH shares. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company increased their target price on Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Finally, Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.