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

Commerce Bancshares, Inc. (NASDAQ:CBSH) declared a quarterly dividend on Friday, July 31st. Investors of record on Friday, September 4th will be given a dividend of 0.275 per share by the financial services provider on Tuesday, September 22nd. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th.

Commerce Bancshares has increased its dividend 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 $4.57 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 24.1%.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH opened at $57.14 on Wednesday. The business’s fifty day moving average price is $58.72 and its two-hundred day moving average price is $54.01. Commerce Bancshares has a fifty-two week low of $46.99 and a fifty-two week high of $60.92. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 2.06 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. The company had revenue of $498.91 million during the quarter, compared to analysts’ expectations of $492.22 million. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.During the same period last year, the business earned $1.14 earnings per share. As a group, analysts predict that Commerce Bancshares will post 4.23 EPS for the current fiscal year.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, CEO John W. Kemper sold 5,830 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $60.58, for a total transaction of $353,181.40. Following the sale, the chief executive officer directly owned 206,528 shares in the company, valued at approximately $12,511,466.24. This trade represents a 2.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Charles G. Kim sold 19,771 shares of Commerce Bancshares stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $59.18, for a total transaction of $1,170,047.78. Following the completion of the transaction, the chief financial officer directly owned 119,410 shares in the company, valued at approximately $7,066,683.80. The trade was a 14.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 33,150 shares of company stock valued at $1,974,783. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Commerce Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Apriem Advisors increased its holdings in Commerce Bancshares by 5.0% during the 4th quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 191 shares in the last quarter. Heartland Bank & Trust Co boosted its position in shares of Commerce Bancshares by 4.4% during the fourth quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock worth $240,000 after buying an additional 192 shares during the period. Outlook Wealth Advisors LLC grew its holdings in shares of Commerce Bancshares by 3.7% during the fourth quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock worth $311,000 after buying an additional 214 shares in the last quarter. Centerpoint Advisory Group raised its position in Commerce Bancshares by 5.0% in the 4th quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider’s stock valued at $237,000 after buying an additional 215 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 216 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

About Commerce Bancshares

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.