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

Commerce Bancshares, Inc. (NASDAQ:CBSHGet Rating) announced a quarterly dividend on Friday, August 5th, RTT News reports. Investors of record on Wednesday, September 7th will be paid a dividend of 0.265 per share by the financial services provider on Thursday, September 22nd. This represents a $1.06 dividend on an annualized basis and a yield of 1.49%.

Commerce Bancshares has a payout ratio of 24.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Commerce Bancshares to earn $4.28 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 24.8%.

Commerce Bancshares Stock Up 0.9 %

Shares of NASDAQ:CBSH opened at $71.25 on Friday. The company has a market cap of $8.60 billion, a P/E ratio of 18.41 and a beta of 0.80. Commerce Bancshares has a 52 week low of $61.81 and a 52 week high of $74.72. The company has a 50-day moving average price of $67.18 and a 200 day moving average price of $69.07.

Commerce Bancshares (NASDAQ:CBSHGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Commerce Bancshares had a net margin of 32.88% and a return on equity of 14.27%. The firm had revenue of $371.80 million during the quarter, compared to the consensus estimate of $362.50 million. During the same quarter last year, the firm earned $1.38 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. Analysts expect that Commerce Bancshares will post 4.04 EPS for the current year.

Insider Activity at Commerce Bancshares

In related news, EVP Robert S. Holmes sold 2,000 shares of Commerce Bancshares stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $70.45, for a total transaction of $140,900.00. Following the transaction, the executive vice president now owns 43,058 shares in the company, valued at approximately $3,033,436.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Blackford F. Brauer acquired 5,000 shares of the business’s stock in a transaction on Friday, June 10th. The shares were purchased at an average price of $65.85 per share, for a total transaction of $329,250.00. Following the acquisition, the director now directly owns 11,027 shares of the company’s stock, valued at approximately $726,127.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert S. Holmes sold 2,000 shares of the business’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $70.45, for a total transaction of $140,900.00. Following the completion of the transaction, the executive vice president now owns 43,058 shares in the company, valued at approximately $3,033,436.10. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 15,000 shares of company stock worth $1,015,150. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Commerce Bancshares

Institutional investors have recently modified their holdings of the stock. United Capital Financial Advisers LLC raised its stake in shares of Commerce Bancshares by 72.4% in the 1st quarter. United Capital Financial Advisers LLC now owns 41,369 shares of the financial services provider’s stock valued at $2,962,000 after purchasing an additional 17,372 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Commerce Bancshares by 44.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 40,582 shares of the financial services provider’s stock valued at $2,905,000 after buying an additional 12,561 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Commerce Bancshares during the 1st quarter valued at about $2,050,000. Natixis Advisors L.P. grew its position in shares of Commerce Bancshares by 27.2% during the 1st quarter. Natixis Advisors L.P. now owns 25,339 shares of the financial services provider’s stock valued at $1,814,000 after buying an additional 5,417 shares during the last quarter. Finally, Beacon Pointe Advisors LLC grew its position in shares of Commerce Bancshares by 527.9% during the 1st quarter. Beacon Pointe Advisors LLC now owns 22,873 shares of the financial services provider’s stock valued at $1,637,000 after buying an additional 19,230 shares during the last quarter. Institutional investors and hedge funds own 67.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CBSH shares. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Jefferies Financial Group dropped their price objective on shares of Commerce Bancshares from $75.00 to $71.00 in a research note on Monday, July 11th. Finally, DA Davidson raised their price objective on shares of Commerce Bancshares to $71.00 in a research note on Monday, July 25th.

About Commerce Bancshares

(Get Rating)

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.

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Dividend History for Commerce Bancshares (NASDAQ:CBSH)

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