$322.73 Million in Sales Expected for Commerce Bancshares, Inc. (NASDAQ:CBSH) This Quarter

Wall Street analysts expect Commerce Bancshares, Inc. (NASDAQ:CBSH) to post $322.73 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Commerce Bancshares’ earnings, with the highest sales estimate coming in at $324.40 million and the lowest estimate coming in at $319.80 million. Commerce Bancshares posted sales of $338.89 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.8%. The company is scheduled to report its next earnings report before the market opens on Tuesday, July 21st.

On average, analysts expect that Commerce Bancshares will report full year sales of $1.30 billion for the current year, with estimates ranging from $1.26 billion to $1.33 billion. For the next year, analysts forecast that the firm will post sales of $1.31 billion, with estimates ranging from $1.24 billion to $1.36 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Commerce Bancshares.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.11). Commerce Bancshares had a return on equity of 12.44% and a net margin of 26.01%. The company had revenue of $324.70 million during the quarter, compared to analyst estimates of $328.18 million. During the same quarter last year, the business earned $0.81 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis.

Several analysts have commented on the stock. Wells Fargo & Co decreased their price objective on shares of Commerce Bancshares from $53.00 to $35.00 and set an “underweight” rating for the company in a research note on Monday, March 30th. Raymond James cut shares of Commerce Bancshares from a “market perform” rating to an “underperform” rating in a research note on Wednesday, June 17th. BidaskClub cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, June 16th. Morgan Stanley lifted their price objective on shares of Commerce Bancshares from $50.00 to $53.00 and gave the company an “underweight” rating in a research note on Monday, June 8th. Finally, Piper Sandler lifted their price objective on shares of Commerce Bancshares from $56.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Commerce Bancshares has an average rating of “Sell” and a consensus target price of $55.20.

In related news, CEO John W. Kemper sold 12,079 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $63.85, for a total value of $771,244.15. Following the completion of the sale, the chief executive officer now owns 143,541 shares of the company’s stock, valued at approximately $9,165,092.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.40% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. HHM Wealth Advisors LLC purchased a new stake in Commerce Bancshares in the 1st quarter worth $41,000. RMR Wealth Builders purchased a new stake in Commerce Bancshares in the 4th quarter worth $53,000. Sowell Financial Services LLC increased its holdings in Commerce Bancshares by 155.6% in the 4th quarter. Sowell Financial Services LLC now owns 818 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 498 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Commerce Bancshares during the 4th quarter worth $58,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in Commerce Bancshares during the 4th quarter worth $60,000. 68.18% of the stock is owned by institutional investors.

NASDAQ CBSH traded down $2.20 on Friday, hitting $57.22. 826,013 shares of the company’s stock traded hands, compared to its average volume of 523,387. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.24. Commerce Bancshares has a 1-year low of $45.51 and a 1-year high of $71.92. The firm’s 50-day moving average price is $61.20 and its two-hundred day moving average price is $62.19. The firm has a market capitalization of $6.63 billion, a PE ratio of 18.47 and a beta of 1.02.

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Thursday, June 4th. Commerce Bancshares’s dividend payout ratio (DPR) is 30.17%.

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. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.

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

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