Commerce Bancshares (CBSH) Expected to Announce Quarterly Earnings on Wednesday

Commerce Bancshares (NASDAQ:CBSH) is expected to be issuing its quarterly earnings data before the market opens on Wednesday, January 22nd. Analysts expect the company to announce earnings of $0.95 per share and revenue of $417,482.00 billion for the quarter.

Commerce Bancshares Price Performance

CBSH stock opened at $64.85 on Tuesday. Commerce Bancshares has a 12 month low of $47.09 and a 12 month high of $72.75. The firm has a market capitalization of $8.32 billion, a PE ratio of 16.89, a P/E/G ratio of 3.38 and a beta of 0.79. The company’s 50 day simple moving average is $67.04 and its 200-day simple moving average is $63.53.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Tuesday, December 3rd. Commerce Bancshares’s payout ratio is 28.13%.

Analysts Set New Price Targets

CBSH has been the subject of a number of recent analyst reports. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods upped their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $66.75.

Insiders Place Their Bets

In other news, EVP Kevin G. Barth sold 1,582 shares of Commerce Bancshares stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total transaction of $106,848.28. Following the transaction, the executive vice president now owns 65,409 shares in the company, valued at approximately $4,417,723.86. The trade was a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Douglas D. Neff sold 888 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total value of $64,024.80. Following the completion of the sale, the senior vice president now directly owns 8,038 shares of the company’s stock, valued at approximately $579,539.80. This represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,398 shares of company stock worth $651,265. 3.10% of the stock is owned by company insiders.

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.