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

Commerce Bancshares, Inc. (NASDAQ:CBSH) announced a quarterly dividend on Friday, July 31st. Shareholders 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 yield of 1.9%. The ex-dividend date is Friday, September 4th.

Commerce Bancshares has increased its dividend payment by an average of 0.0%annually 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 firm’s 50 day simple moving average is $58.72 and its 200-day simple moving average is $54.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. Commerce Bancshares has a one year low of $46.99 and a one year high of $60.92. The firm has a market cap of $8.20 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 2.06 and a beta of 0.58.

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

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $60.20, for a total transaction of $301,000.00. Following the sale, the executive vice president owned 55,962 shares of the company’s stock, valued at approximately $3,368,912.40. This trade represents a 8.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John W. Kemper sold 5,830 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $60.58, for a total value of $353,181.40. Following the completion of the transaction, the chief executive officer directly owned 206,528 shares of the company’s stock, valued at approximately $12,511,466.24. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,150 shares of company stock valued at $1,974,783 over the last 90 days. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Geneos Wealth Management Inc. increased its position in shares of Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 216 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Commerce Bancshares by 2.0% during the second quarter. Invesco Ltd. now owns 865,052 shares of the financial services provider’s stock valued at $53,780,000 after acquiring an additional 16,610 shares in the last quarter. Cresset Asset Management LLC raised its position in shares of Commerce Bancshares by 3.0% in the 2nd quarter. Cresset Asset Management LLC now owns 10,151 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 300 shares during the last quarter. Jump Financial LLC acquired a new stake in Commerce Bancshares in the 2nd quarter worth approximately $376,000. Finally, California Public Employees Retirement System grew its position in Commerce Bancshares by 4.8% during the 2nd quarter. California Public Employees Retirement System now owns 208,148 shares of the financial services provider’s stock worth $12,941,000 after purchasing an additional 9,483 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

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.