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

Commerce Bancshares, Inc. (NASDAQ:CBSH) declared a quarterly dividend on Friday, April 24th. Investors of record on Friday, June 5th will be given a dividend of 0.275 per share by the financial services provider on Tuesday, June 23rd. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, June 5th.

Commerce Bancshares has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 58 years. Commerce Bancshares has a dividend payout ratio of 26.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Commerce Bancshares to earn $4.43 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 24.8%.

Commerce Bancshares Stock Performance

NASDAQ CBSH opened at $52.02 on Wednesday. Commerce Bancshares has a one year low of $46.99 and a one year high of $63.19. The company’s 50 day moving average price is $50.80 and its 200 day moving average price is $51.78. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 3.50 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.94 by $0.02. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. The firm had revenue of $475.69 million for the quarter, compared to analyst estimates of $481.94 million. During the same quarter last year, the firm posted $0.98 earnings per share. Commerce Bancshares’s revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts forecast that Commerce Bancshares will post 4.12 EPS for the current fiscal year.

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.