Commerce Bancshares (NASDAQ:CBSH) Sheds 8.8% This Week, as Yearly Returns Fall More in Line With Earnings Growth
Commerce Bancshares (NASDAQ:CBSH) Sheds 8.8% This Week, as Yearly Returns Fall More in Line With Earnings Growth
If you buy and hold a stock for many years, you'd hope to be making a profit. Furthermore, you'd generally like to see the share price rise faster than the market. Unfortunately for shareholders, while the Commerce Bancshares, Inc. (NASDAQ:CBSH) share price is up 33% in the last five years, that's less than the market return. Looking at the last year alone, the stock is up 16%.
如果你购买股票多年并持有,你希望赚到利润。此外,你通常希望看到股价上涨快于市场。不幸的是,对于股东而言,虽然Commerce Bancshares, Inc. (NASDAQ:CBSH)股价在过去五年中上涨了33%,但还不及市场回报。仅看过去一年,股票上涨16%。
Although Commerce Bancshares has shed US$738m from its market cap this week, let's take a look at its longer term fundamental trends and see if they've driven returns.
尽管Commerce Bancshares本周市值减少7,380万美元,但让我们看看其长期基本趋势,并查看它们是否带来回报。
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
沃伦·巴菲特在他的文章《格雷厄姆与多德维尔的超级投资者》中描述了股票价格并不总是合理地反映了一家企业的价值。考虑市场对一家公司的看法如何转变的一种不完美但简单的方法,是将每股收益(EPS)的变化与股价的动态进行比较。
During five years of share price growth, Commerce Bancshares achieved compound earnings per share (EPS) growth of 4.7% per year. This EPS growth is reasonably close to the 6% average annual increase in the share price. This indicates that investor sentiment towards the company has not changed a great deal. In fact, the share price seems to largely reflect the EPS growth.
在股价增长的五年中,Commerce Bancshares的每股收益复合增长率为4.7%。这种每股收益的增长率与股价的平均年增长率6%相当接近。这表明投资者对公司的情绪并没有发生太大改变。事实上,股价似乎很大程度上反映了每股收益的增长。
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
您可以在下面的图片中查看每股收益如何随时间变化(单击图表以查看确切的价值)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240806/0-c9f81c011947724e03e55305382a7691-0-703555e9ea31f26e14d415a7abf90821.png/big)
We like that insiders have been buying shares in the last twelve months. Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business. Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here..
我们喜欢看到内部人在过去12个月内购买了股票。话虽如此,大多数人认为收益和营业收入增长趋势更能指导业务。在购买或出售股票之前,我们始终建议密切审查历史增长趋势,在这里可以找到。
What About Dividends?
那么分红怎么样呢?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. We note that for Commerce Bancshares the TSR over the last 5 years was 45%, which is better than the share price return mentioned above. The dividends paid by the company have thusly boosted the total shareholder return.
对于任何给定的股票而言,考虑总股东回报和股价回报同样重要。TSR是一个回报计算,考虑到现金股息的价值(假设任何收到的股息都已重新投资)以及任何折价的增资和股权分拆的计算值。因此,对于支付丰厚股息的公司,TSR通常比股价回报高得多。我们注意到,对于Commerce Bancshares,过去5年的TSR为45%,比上述股价回报更好。公司支付的股息因此提高了总股东回报。
A Different Perspective
不同的观点
We're pleased to report that Commerce Bancshares shareholders have received a total shareholder return of 18% over one year. That's including the dividend. That's better than the annualised return of 8% over half a decade, implying that the company is doing better recently. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. It's always interesting to track share price performance over the longer term. But to understand Commerce Bancshares better, we need to consider many other factors. Consider for instance, the ever-present spectre of investment risk. We've identified 1 warning sign with Commerce Bancshares , and understanding them should be part of your investment process.
我们很高兴报告,Commerce Bancshares股东在一年内获得了总股东回报率为18%。这包括股息。这比过去半个世纪的年化回报率8%更好,这意味着公司最近表现更好。在最好的情况下,这可能暗示着一些真正的业务动力,这意味着现在可能是深入研究的好时机。长期跟踪股价表现总是很有趣的。但是要更好地了解Commerce Bancshares,我们需要考虑许多其他因素。例如,不断存在的投资风险阴影。我们已经确定了一个Commerce Bancshares的警告信号,了解它们应该是您投资过程的一部分。
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying.
还有很多其他的公司,公司的内部人士正在购买股票。你可能不想错过这个免费的小市值公司的低估列表。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
请注意,本文所引述的市场回报反映了目前在美国交易所上市的股票的市场加权平均回报。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。
这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论,只使用公正的方法论,我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议,也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。