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

Commerce Bancshares, Inc. (NASDAQ:CBSH) declared a quarterly dividend on Friday, July 26th, RTT News reports. Investors of record on Thursday, September 5th will be paid a dividend of 0.27 per share by the financial services provider on Monday, September 23rd. This represents a $1.08 annualized dividend and a yield of 1.66%.

Commerce Bancshares has raised its dividend payment by an average of 16.1% per year over the last three years and has increased its dividend annually for the last 56 consecutive years. Commerce Bancshares has a dividend payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Commerce Bancshares to earn $3.80 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 28.4%.

Commerce Bancshares Stock Up 1.3 %

Shares of NASDAQ CBSH opened at $65.08 on Friday. The firm’s 50-day simple moving average is $56.53 and its 200 day simple moving average is $54.27. The company has a market cap of $8.43 billion, a price-to-earnings ratio of 18.15 and a beta of 0.76. Commerce Bancshares has a 12-month low of $40.91 and a 12-month high of $65.83.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.17. The business had revenue of $414.90 million for the quarter, compared to the consensus estimate of $406.88 million. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 EPS. On average, equities analysts expect that Commerce Bancshares will post 3.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CBSH has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their target price on shares of Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, May 10th. Raymond James upgraded shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price on the stock in a research report on Wednesday, April 17th. Wells Fargo & Company upped their target price on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Piper Sandler upped their target price on shares of Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Finally, StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $58.86.

Insider Activity

In other news, SVP David L. Roller sold 861 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $64.30, for a total value of $55,362.30. Following the completion of the sale, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at approximately $1,990,020.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP David L. Roller sold 861 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $64.30, for a total transaction of $55,362.30. Following the completion of the sale, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at approximately $1,990,020.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jonathan M. Kemper sold 19,626 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $63.66, for a total value of $1,249,391.16. Following the sale, the director now directly owns 997,112 shares of the company’s stock, valued at $63,476,149.92. The disclosure for this sale can be found here. Insiders sold a total of 47,068 shares of company stock valued at $2,813,757 in the last ninety days. 3.20% of the stock is owned by insiders.

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.