Q2 2024 EPS Estimates for Commerce Bancshares, Inc. (NASDAQ:CBSH) Raised by Analyst

Commerce Bancshares, Inc. (NASDAQ:CBSH) – Analysts at Zacks Research raised their Q2 2024 earnings estimates for shares of Commerce Bancshares in a research report issued to clients and investors on Wednesday, June 26th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings of $0.86 per share for the quarter, up from their previous estimate 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.

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

CBSH has been the subject of a number of other reports. Keefe, Bruyette & Woods raised their target price on Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, May 10th. Raymond James upgraded shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price on the stock in a research report on Wednesday, April 17th. Piper Sandler increased their price target on shares of Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Finally, StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Commerce Bancshares currently has an average rating of “Hold” and an average price target of $55.29.

Commerce Bancshares Price Performance

CBSH stock opened at $54.71 on Friday. The business has a fifty day moving average price of $55.06 and a 200 day moving average price of $53.44. Commerce Bancshares has a fifty-two week low of $40.91 and a fifty-two week high of $57.48. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 1.77 and a beta of 0.76.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new position in shares of Commerce Bancshares in the 4th quarter valued at $29,000. Creative Financial Designs Inc. ADV acquired a new position in Commerce Bancshares in the fourth quarter valued at about $35,000. Clarity Asset Management Inc. bought a new stake in shares of Commerce Bancshares in the fourth quarter worth about $43,000. Bessemer Group Inc. raised its position in shares of Commerce Bancshares by 86.3% during the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 390 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in shares of Commerce Bancshares during the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In other news, CEO John W. Kemper sold 26,581 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was 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 directly owns 198,387 shares of the company’s stock, valued at approximately $11,262,429.99. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.97%. Commerce Bancshares’s dividend payout ratio is presently 30.12%.

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.