Commerce Bancshares, Inc. (NASDAQ:CBSH) Declares Quarterly Dividend of $0.28

Commerce Bancshares, Inc. (NASDAQ:CBSH) announced a quarterly dividend on Friday, January 31st,RTT News reports. Investors of record on Friday, March 7th will be given a dividend of 0.275 per share by the financial services provider on Tuesday, March 25th. This represents a $1.10 annualized dividend and a yield of 1.65%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27.

Commerce Bancshares has raised its dividend payment by an average of 6.0% annually over the last three years. Commerce Bancshares has a dividend payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Commerce Bancshares to earn $4.12 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 26.2%.

Commerce Bancshares Price Performance

CBSH stock remained flat at $66.80 during trading on Friday. The company had a trading volume of 891,023 shares, compared to its average volume of 545,460. The firm’s 50-day moving average price is $66.15 and its 200-day moving average price is $63.97. The firm has a market capitalization of $8.57 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79. Commerce Bancshares has a 12-month low of $47.09 and a 12-month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company had revenue of $422.10 million during the quarter, compared to analysts’ expectations of $417.48 million. During the same quarter in the previous year, the business earned $0.84 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities research analysts predict that Commerce Bancshares will post 3.9 EPS for the current year.

Insider Activity

In other Commerce Bancshares news, SVP David L. Roller sold 890 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $72.27, for a total transaction of $64,320.30. Following the completion of the sale, the senior vice president now owns 30,949 shares in the company, valued at $2,236,684.23. This trade represents a 2.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patricia R. Kellerhals sold 500 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $68.55, for a total value of $34,275.00. Following the sale, the senior vice president now owns 22,265 shares of the company’s stock, valued at approximately $1,526,265.75. This trade represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,990 shares of company stock worth $2,475,680 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods upped their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler upped their price objective on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, StockNews.com raised 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, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $67.83.

Commerce Bancshares Company Profile

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.