Research Analysts Offer Predictions for CBSH FY2024 Earnings

Commerce Bancshares, Inc. (NASDAQ:CBSH) – Stock analysts at Zacks Research decreased their FY2024 earnings per share estimates for shares of Commerce Bancshares in a research note issued on Monday, January 13th. Zacks Research analyst R. Department now forecasts that the financial services provider will earn $3.92 per share for the year, down from their prior estimate of $3.97. The consensus estimate for Commerce Bancshares’ current full-year earnings is $3.95 per share. Zacks Research also issued estimates for Commerce Bancshares’ Q4 2024 earnings at $0.92 EPS, Q1 2025 earnings at $0.87 EPS, Q2 2025 earnings at $0.92 EPS, Q3 2025 earnings at $0.94 EPS, Q4 2025 earnings at $0.95 EPS, FY2025 earnings at $3.69 EPS, Q1 2026 earnings at $0.99 EPS, Q2 2026 earnings at $0.97 EPS, Q3 2026 earnings at $0.98 EPS, Q4 2026 earnings at $1.01 EPS and FY2026 earnings at $3.94 EPS.

Several other research firms also recently commented on CBSH. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods lifted their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company lifted their target price on Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $66.75.

Commerce Bancshares Stock Performance

Shares of CBSH stock opened at $64.31 on Wednesday. The company has a market cap of $8.25 billion, a P/E ratio of 16.75, a PEG ratio of 2.92 and a beta of 0.79. The stock has a 50 day simple moving average of $67.47 and a two-hundred day simple moving average of $63.28. Commerce Bancshares has a fifty-two week low of $47.09 and a fifty-two week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The company had revenue of $421.38 million for the quarter, compared to analysts’ expectations of $412.85 million.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC raised its stake in shares of Commerce Bancshares by 7,407.2% in the third quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock worth $21,556,000 after purchasing an additional 358,066 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Commerce Bancshares by 19.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock worth $115,453,000 after purchasing an additional 342,793 shares during the last quarter. Millennium Management LLC raised its stake in shares of Commerce Bancshares by 168.3% in the second quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider’s stock worth $19,081,000 after purchasing an additional 214,582 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Commerce Bancshares by 7.3% in the third quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock worth $142,951,000 after purchasing an additional 163,782 shares during the last quarter. Finally, NFJ Investment Group LLC raised its stake in shares of Commerce Bancshares by 17.7% in the third quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock worth $42,006,000 after purchasing an additional 106,316 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, Chairman David W. Kemper sold 30,000 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the sale, the chairman now directly owns 1,151,994 shares in the company, valued at $71,170,189.32. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kevin G. Barth sold 1,582 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $67.54, for a total value of $106,848.28. Following the sale, the executive vice president now owns 65,409 shares in the company, valued at $4,417,723.86. This represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,398 shares of company stock worth $2,504,665 in the last ninety days. 3.20% of the stock is owned by insiders.

Commerce Bancshares Dividend Announcement

The business 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. The ex-dividend date was Tuesday, December 3rd. This represents a $1.08 annualized dividend and a yield of 1.68%. Commerce Bancshares’s payout ratio is 28.13%.

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.