Analysts forecast that Commerce Bancshares, Inc. (NASDAQ:CBSH) will report $312.74 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Commerce Bancshares’ earnings, with estimates ranging from $306.35 million to $319.00 million. Commerce Bancshares reported sales of $290.56 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.6%. The company is scheduled to announce its next earnings report on Friday, October 13th.

On average, analysts expect that Commerce Bancshares will report full year sales of $312.74 million for the current fiscal year, with estimates ranging from $1.22 billion to $1.27 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.30 billion per share, with estimates ranging from $1.27 billion to $1.34 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Commerce Bancshares.

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

A number of brokerages have issued reports on CBSH. Wells Fargo & Company reissued a “market perform” rating and set a $53.00 target price (up previously from $51.00) on shares of Commerce Bancshares in a report on Friday, July 14th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $61.00 price target on shares of Commerce Bancshares in a report on Friday, July 14th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $52.00 price target on shares of Commerce Bancshares in a report on Friday, July 14th. Stephens reaffirmed an “equal weight” rating and issued a $56.00 price target (up previously from $52.00) on shares of Commerce Bancshares in a report on Monday, July 17th. Finally, Zacks Investment Research raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Monday, July 17th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Commerce Bancshares presently has an average rating of “Hold” and a consensus price target of $55.00.

Commerce Bancshares (NASDAQ CBSH) opened at 55.22 on Friday. Commerce Bancshares has a 1-year low of $45.37 and a 1-year high of $60.61. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 20.01 and a beta of 0.81. The firm’s 50-day moving average price is $57.34 and its 200-day moving average price is $56.49.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Friday, September 8th will be issued a $0.225 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.90 annualized dividend and a dividend yield of 1.63%. Commerce Bancshares’s payout ratio is currently 32.64%.

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In related news, Vice Chairman Jonathan M. Kemper sold 36,979 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $54.10, for a total value of $2,000,563.90. Following the completion of the transaction, the insider now directly owns 1,045,605 shares in the company, valued at $56,567,230.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David W. Kemper sold 10,132 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $57.83, for a total transaction of $585,933.56. Following the completion of the transaction, the chairman now owns 1,270,757 shares of the company’s stock, valued at $73,487,877.31. The disclosure for this sale can be found here. Insiders sold 48,099 shares of company stock valued at $2,643,431 over the last quarter. 4.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Commerce Bancshares by 5,297.5% in the first quarter. BlackRock Inc. now owns 7,509,842 shares of the financial services provider’s stock valued at $421,752,000 after buying an additional 7,370,707 shares during the period. Lazard Asset Management LLC bought a new position in shares of Commerce Bancshares during the first quarter valued at about $64,025,000. Nuance Investments LLC raised its position in shares of Commerce Bancshares by 814.4% in the second quarter. Nuance Investments LLC now owns 955,417 shares of the financial services provider’s stock valued at $54,296,000 after buying an additional 850,930 shares during the period. Vanguard Group Inc. raised its position in shares of Commerce Bancshares by 10.4% in the first quarter. Vanguard Group Inc. now owns 8,353,057 shares of the financial services provider’s stock valued at $469,107,000 after buying an additional 785,218 shares during the period. Finally, Karp Capital Management Corp bought a new position in shares of Commerce Bancshares during the first quarter valued at about $36,174,000. Institutional investors own 62.13% of the company’s stock.

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.

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

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