Commerce Bancshares (NASDAQ:CBSH) Shares Scheduled to Split on Tuesday, December 2nd

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) are going to split before the market opens on Tuesday, December 2nd. The 1.05-1 split was recently announced. The newly issued shares will be distributed to shareholders after the closing bell on Monday, December 1st.

Commerce Bancshares Price Performance

Shares of CBSH opened at $52.53 on Thursday. The company has a market capitalization of $6.96 billion, a P/E ratio of 12.54, a PEG ratio of 4.71 and a beta of 0.62. Commerce Bancshares has a one year low of $51.12 and a one year high of $72.75. The business’s 50 day simple moving average is $56.09 and its 200-day simple moving average is $60.33.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.03). Commerce Bancshares had a return on equity of 15.73% and a net margin of 26.48%.The business had revenue of $448.85 million for the quarter, compared to the consensus estimate of $447.04 million. During the same quarter last year, the company earned $1.07 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Commerce Bancshares will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd will be paid a $0.275 dividend. The ex-dividend date is Tuesday, December 2nd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.1%. Commerce Bancshares’s dividend payout ratio (DPR) is 26.25%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CBSH shares. Keefe, Bruyette & Woods reduced their price target on shares of Commerce Bancshares from $65.00 to $60.00 and set a “market perform” rating on the stock in a research report on Friday, October 17th. Wall Street Zen downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Hovde Group assumed coverage on shares of Commerce Bancshares in a research report on Monday, October 6th. They set an “outperform” rating and a $70.00 target price on the stock. Zacks Research cut shares of Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a report on Thursday, November 13th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $65.29.

Hedge Funds Weigh In On Commerce Bancshares

Several large investors have recently bought and sold shares of the business. Danske Bank A S acquired a new stake in Commerce Bancshares during the 3rd quarter worth $25,000. Smartleaf Asset Management LLC lifted its stake in shares of Commerce Bancshares by 191.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 296 shares during the period. IMA Advisory Services Inc. bought a new position in shares of Commerce Bancshares in the 1st quarter worth $29,000. Geneos Wealth Management Inc. grew its stake 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 during the period. Finally, Quent Capital LLC bought a new stake in Commerce Bancshares in the third quarter valued at about $31,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Company Profile

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.