Commerce Bancshares, Inc. (NASDAQ:CBSH) banking products and services provider, is reporting third quarter earnings results on Tuesday 20th October 2020, before market open.
The consensus estimates from Thomson Reuters are income of $ 0.70 per share.
For the full year, analysts predict revenues of $ 1312.30 million, while looking forward to income of $ 2.26 per share.
Previous Quarter Performance
Commerce Bancshares, Inc. unfold income for the second quarter of $ 0.34 per share, from the revenue of $ 320.57 million. The quarterly earnings fell 62.64 percent while revenues shrunk 5.41 percent compared with the same quarter last year.
The consensus estimates are income of $ 0.53 per share from $ 324.58 million in revenue. The bottom line results missed street analysts by $ 0.19 or 35.85 percent, at the same time, top line results fell short of analysts by $ 4.01 million or 1.24 percent.
Stock Performance
Shares of Commerce Bancshares, Inc. traded up $ 0.23 or 0.39 percent on Monday, reaching $ 58.52 with volume of 473.60 thousand shares. Commerce Bancshares, Inc. has traded high as $ 59.43 and has cracked $ 58.12 on the downward trend
According to the previous trading day, closing price of $ 58.52, representing a 28.08 % increase from the 52 week low of $ 45.51 and a 18.95 % decrease over the 52 week high of $ 71.92.
The company has a market capital of $ 6.53 billion and is part of the Financial Services sector and Banks – Regional – US industry.
Recent Analyst recommendations
- On 29th September 2020, maintained by Piper Sandler at Neutral rating, with $ 59.00 target price.
Recent Stock Dividend Announcement
On July 31, 2020, the board of directors authorized quarterly dividend of $ 0.27 per share to holders of record as of the close of business on September 4, 2020, with payment date of September 21, 2020 and ex-dividend date on September 3, 2020.
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. It operates through three segments: Consumer, Commercial, and Wealth.
