Commerce Bancshares, Inc. (CBSH) to Issue Quarterly Dividend of $0.28 on September 22nd

Commerce Bancshares, Inc. (NASDAQ:CBSH) announced a quarterly dividend on Friday, July 31st. Shareholders of record on Friday, September 4th will be paid 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 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% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

CBSH stock opened at $57.14 on Wednesday. Commerce Bancshares has a 52-week low of $46.99 and a 52-week high of $60.92. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $58.72 and its 200-day simple moving average is $54.01. 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.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. The business 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 quarter in the previous year, the business earned $1.14 EPS. Equities research analysts expect that Commerce Bancshares will post 4.23 EPS for the current 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.