Commerce Bancshares, Inc. (CBSH) to Issue Quarterly Dividend of $0.28 on June 23rd

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

Commerce Bancshares has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 58 years. Commerce Bancshares has a 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 Trading Down 0.3%

NASDAQ:CBSH opened at $51.87 on Wednesday. The stock has a 50-day moving average price of $50.80 and a 200 day moving average price of $51.78. The stock has a market capitalization of $7.56 billion, a P/E ratio of 12.36, a P/E/G ratio of 3.50 and a beta of 0.60. Commerce Bancshares has a 12-month low of $46.99 and a 12-month high of $63.19.

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, topping analysts’ consensus estimates of $0.94 by $0.02. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.The company had revenue of $475.69 million for the quarter, compared to analysts’ expectations of $481.94 million. During the same period in the previous year, the firm earned $0.98 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, research analysts predict that Commerce Bancshares will post 4.12 earnings per share for the current fiscal year.

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.