Commerce Bancshares, Inc. (NASDAQ:CBSH) Raises Dividend to $0.28 Per Share

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) declared 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 dividend on an annualized basis and a dividend yield of 1.63%. 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 increased its dividend by an average of 6.0% annually over the last three years. Commerce Bancshares has a payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of NASDAQ CBSH traded up $1.58 during trading on Tuesday, reaching $67.45. The company had a trading volume of 474,710 shares, compared to its average volume of 550,560. Commerce Bancshares has a 52 week low of $47.09 and a 52 week high of $72.75. The business's 50 day moving average price is $65.71 and its 200-day moving average price is $64.10. The stock has a market cap of $8.65 billion, a PE ratio of 16.82, a PEG ratio of 2.21 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.06. The firm had revenue of $422.10 million for 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 business's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 EPS. Equities analysts anticipate that Commerce Bancshares will post 3.9 earnings per share for the current year.

Insider Buying and Selling

In other Commerce Bancshares news, EVP Kevin G. Barth sold 24,870 shares of Commerce Bancshares stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.06, for a total value of $1,642,912.20. Following the sale, the executive vice president now directly owns 45,511 shares in the company, valued at approximately $3,006,456.66. The trade was a 35.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David L. Roller sold 890 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $72.27, for a total transaction of $64,320.30. Following the transaction, the senior vice president now owns 30,949 shares of the company's stock, valued at approximately $2,236,684.23. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,698 shares of company stock valued at $2,721,001. Company insiders own 3.10% of the company's stock.

Wall Street Analyst Weigh In

CBSH has been the subject of several recent research reports. Piper Sandler boosted 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. Wells Fargo & Company boosted their price target 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. StockNews.com raised shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Monday, January 13th. Raymond James cut shares of Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods raised their target price on Commerce Bancshares from $66.00 to $78.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.