Commerce Bancshares, Inc. (CBSH) To Go Ex-Dividend on March 7th

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 dividend yield of 1.75%. The ex-dividend date is Friday, March 7th. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27.

Commerce Bancshares has raised its dividend by an average of 6.0% per year over the last three years and has raised its dividend annually for the last 58 consecutive years. Commerce Bancshares has a payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Commerce Bancshares to earn $4.18 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 26.3%.

Commerce Bancshares Trading Down 3.2 %

CBSH opened at $62.75 on Wednesday. Commerce Bancshares has a twelve month low of $47.89 and a twelve month high of $72.75. The business’s 50 day moving average is $64.77 and its 200-day moving average is $64.59. The stock has a market cap of $8.40 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 2.13 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The firm had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share. As a group, analysts forecast that Commerce Bancshares will post 3.94 EPS for the current year.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, CFO Charles G. Kim sold 13,493 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.76, for a total transaction of $914,285.68. Following the transaction, the chief financial officer now directly owns 86,246 shares in the company, valued at approximately $5,844,028.96. This represents a 13.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman David W. Kemper sold 4,500 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $69.22, for a total value of $311,490.00. Following the completion of the transaction, the chairman now directly owns 23,725 shares in the company, valued at $1,642,244.50. The trade was a 15.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,016 shares of company stock worth $5,768,576 over the last three months. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CBSH shares. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler increased their price target on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods boosted 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. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company raised their price objective on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and a consensus target price of $67.83.

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.