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

Commerce Bancshares, Inc. (NASDAQ:CBSH) declared a quarterly dividend on Friday, February 6th. Shareholders of record on Friday, March 6th will be given a dividend of 0.275 per share by the financial services provider on Tuesday, March 24th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, March 6th.

Commerce Bancshares has increased its dividend payment by an average of 0.0%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 26.2% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

CBSH stock opened at $51.61 on Wednesday. Commerce Bancshares has a one year low of $48.69 and a one year high of $63.19. The firm has a market cap of $7.58 billion, a PE ratio of 12.32, a PEG ratio of 2.60 and a beta of 0.61. The firm’s 50 day moving average price is $53.40 and its 200-day moving average price is $53.89.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.99 by $0.02. The business had revenue of $449.36 million for the quarter, compared to analyst estimates of $442.47 million. Commerce Bancshares had a return on equity of 15.34% and a net margin of 26.51%.The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 EPS. Equities research analysts predict that Commerce Bancshares will post 3.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CBSH shares. Zacks Research cut shares of Commerce Bancshares from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 8th. Morgan Stanley lowered their price objective on shares of Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday. TD Cowen dropped their target price on shares of Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, January 7th. Weiss Ratings restated a “hold (c)” rating on shares of Commerce Bancshares in a research note on Monday, December 29th. Finally, Piper Sandler set a $62.00 price target on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Commerce Bancshares currently has a consensus rating of “Hold” and an average price target of $61.51.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.