Commerce Bancshares, Inc. (CBSH) Plans Quarterly Dividend of $0.24
Commerce Bancshares, Inc. (NASDAQ:CBSH) declared a quarterly dividend on Friday, January 26th, RTT News reports. Investors of record on Friday, March 9th will be paid a dividend of 0.235 per share by the financial services provider on Monday, March 26th. This represents a $0.94 annualized dividend and a yield of 1.59%. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.23.
Commerce Bancshares has a dividend payout ratio of 33.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Commerce Bancshares to earn $3.54 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 25.4%.
Commerce Bancshares (NASDAQ:CBSH) opened at $59.00 on Friday. Commerce Bancshares has a twelve month low of $49.43 and a twelve month high of $59.72. The firm has a market cap of $6,280.69, a P/E ratio of 20.36, a P/E/G ratio of 2.20 and a beta of 0.80.
In other Commerce Bancshares news, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $55.06, for a total value of $3,028,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.30% of the stock is currently owned by corporate insiders.
CBSH has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Monday, January 8th. Barclays upped their target price on shares of Commerce Bancshares from $55.00 to $59.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. BidaskClub raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $58.00 target price on shares of Commerce Bancshares in a research note on Tuesday, January 9th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $57.13.
Commerce Bancshares Company Profile
Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
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