FY2024 Earnings Forecast for Commerce Bancshares, Inc. Issued By Zacks Research (NASDAQ:CBSH)

Commerce Bancshares, Inc. (NASDAQ:CBSH) – Analysts at Zacks Research upped their FY2024 EPS estimates for Commerce Bancshares in a research report issued to clients and investors on Tuesday, September 24th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings per share of $3.85 for the year, up from their prior forecast of $3.81. The consensus estimate for Commerce Bancshares’ current full-year earnings is $3.96 per share. Zacks Research also issued estimates for Commerce Bancshares’ Q3 2025 earnings at $0.98 EPS, Q4 2025 earnings at $1.01 EPS and Q2 2026 earnings at $1.01 EPS.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.17. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The business had revenue of $414.90 million for the quarter, compared to analysts’ expectations of $406.88 million. During the same period last year, the business earned $0.97 earnings per share. The business’s quarterly revenue was up 4.5% on a year-over-year basis.

Several other brokerages have also recently issued reports on CBSH. Jefferies Financial Group raised their target price on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Morgan Stanley raised their target price on shares of Commerce Bancshares from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company raised their target price on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Commerce Bancshares presently has a consensus rating of “Hold” and an average target price of $60.00.

Commerce Bancshares Stock Performance

Shares of Commerce Bancshares stock opened at $59.83 on Friday. Commerce Bancshares has a 52-week low of $40.91 and a 52-week high of $65.86. The stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 10.03 and a beta of 0.75. The company’s 50 day moving average price is $62.14 and its 200-day moving average price is $57.29.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Thursday, September 5th. Commerce Bancshares’s dividend payout ratio is currently 30.12%.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, CEO John W. Kemper sold 5,156 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $65.22, for a total transaction of $336,274.32. Following the completion of the transaction, the chief executive officer now owns 198,298 shares of the company’s stock, valued at $12,932,995.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Commerce Bancshares news, CEO John W. Kemper sold 5,156 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $65.22, for a total transaction of $336,274.32. Following the completion of the transaction, the chief executive officer now owns 198,298 shares of the company’s stock, valued at $12,932,995.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Patricia R. Kellerhals sold 1,500 shares of Commerce Bancshares stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $60.82, for a total value of $91,230.00. Following the completion of the transaction, the senior vice president now directly owns 25,381 shares of the company’s stock, valued at approximately $1,543,672.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,612 shares of company stock valued at $3,184,609. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Commerce Bancshares

Several large investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. raised its position in shares of Commerce Bancshares by 0.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock worth $1,724,000 after purchasing an additional 154 shares during the last quarter. Angeles Investment Advisors LLC raised its position in shares of Commerce Bancshares by 5.0% in the 4th quarter. Angeles Investment Advisors LLC now owns 4,557 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 217 shares during the last quarter. Connectus Wealth LLC raised its position in shares of Commerce Bancshares by 1.5% in the 4th quarter. Connectus Wealth LLC now owns 17,594 shares of the financial services provider’s stock worth $940,000 after purchasing an additional 266 shares during the last quarter. Smith Shellnut Wilson LLC ADV raised its position in shares of Commerce Bancshares by 5.0% in the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 5,959 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 283 shares during the last quarter. Finally, Thomas Story & Son LLC increased its holdings in Commerce Bancshares by 5.0% in the 4th quarter. Thomas Story & Son LLC now owns 6,637 shares of the financial services provider’s stock worth $354,000 after buying an additional 315 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

About Commerce Bancshares

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.