Commerce Bancshares, Inc. (NASDAQ:CBSH) Announces Quarterly Dividend of $0.27

Commerce Bancshares, Inc. (NASDAQ:CBSH) announced a quarterly dividend on Friday, October 25th,RTT News reports. Shareholders of record on Tuesday, December 3rd will be paid a dividend of 0.27 per share by the financial services provider on Tuesday, December 17th. This represents a $1.08 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, December 3rd.

Commerce Bancshares has increased its dividend payment by an average of 16.1% per year over the last three years and has raised its dividend annually for the last 56 consecutive years. Commerce Bancshares has a payout ratio of 28.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Commerce Bancshares to earn $3.87 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 27.9%.

Commerce Bancshares Stock Performance

CBSH stock opened at $73.75 on Monday. The company has a market capitalization of $9.46 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 3.98 and a beta of 0.77. Commerce Bancshares has a one year low of $47.28 and a one year high of $76.39. The company’s 50 day moving average price is $64.66 and its two-hundred day moving average price is $60.94.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The company had revenue of $421.38 million for the quarter, compared to analysts’ expectations of $412.85 million. On average, research analysts predict that Commerce Bancshares will post 4.02 EPS for the current year.

Insider Activity at Commerce Bancshares

In other news, SVP David L. Roller sold 890 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $72.27, for a total value of $64,320.30. Following the completion of the sale, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at approximately $2,236,684.23. This trade represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John K. Handy sold 1,331 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $63.80, for a total transaction of $84,917.80. Following the transaction, the executive vice president now owns 41,548 shares in the company, valued at $2,650,762.40. This represents a 3.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,109 shares of company stock worth $2,191,123 in the last 90 days. Company insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CBSH shares. Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. 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. Finally, StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Commerce Bancshares presently has an average rating of “Hold” and a consensus price target of $61.79.

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.