Commerce Bancshares (CBSH) Declares $0.27 Dividend
Commerce Bancshares said on February 3, 2023 that its board of directors declared a regular quarterly dividend of $0.27 per share ($1.08 annualized). Shareholders of record as of March 6, 2023 will receive the payment on March 27, 2023. Previously, the company paid $0.26 per share.
At the current share price of $67.74 / share, the stock's dividend yield is 1.59%. Looking back five years and taking a sample every week, the average dividend yield has been 1.44%, the lowest has been 1.08%, and the highest has been 2.12%. The standard deviation of yields is 0.17 (n=237).
The current dividend yield is 0.90 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.26. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.03%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 3.04% Upside
As of February 8, 2023, the average one-year price target for Commerce Bancshares is $69.80. The forecasts range from a low of $62.52 to a high of $75.60. The average price target represents an increase of 3.04% from its latest reported closing price of $67.74.
The projected annual revenue for Commerce Bancshares is $1,620MM, an increase of 9.37%. The projected annual EPS is $4.08, an increase of 5.67%.
Fund Sentiment
There are 788 funds or institutions reporting positions in Commerce Bancshares. This is an increase of 38 owner(s) or 5.07%.
Average portfolio weight of all funds dedicated to US:CBSH is 0.1978%, an increase of 3.7719%. Total shares owned by institutions decreased in the last three months by 1.26% to 89,416K shares.
What are large shareholders doing?
Aristotle Capital Management holds 9,385,496 shares representing 7.51% ownership of the company. In it's prior filing, the firm reported owning 9,599,754 shares, representing a decrease of 2.28%. The firm increased its portfolio allocation in CBSH by 3.53% over the last quarter.
Commerce Bank holds 6,708,231 shares representing 5.37% ownership of the company. In it's prior filing, the firm reported owning 6,770,663 shares, representing a decrease of 0.93%. The firm increased its portfolio allocation in CBSH by 6.51% over the last quarter.
Lazard Asset Management holds 5,066,980 shares representing 4.05% ownership of the company. In it's prior filing, the firm reported owning 5,274,548 shares, representing a decrease of 4.10%. The firm decreased its portfolio allocation in CBSH by 62.27% over the last quarter.
VWNFX - Vanguard Windsor II Fund Investor Shares holds 4,326,366 shares representing 3.46% ownership of the company. In it's prior filing, the firm reported owning 4,521,261 shares, representing a decrease of 4.50%. The firm increased its portfolio allocation in CBSH by 3.28% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,202,204 shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 3,208,703 shares, representing a decrease of 0.20%. The firm increased its portfolio allocation in CBSH by 4.84% over the last quarter.
Commerce Bancshares Background Information
(This description is provided by the company.)
With $31.5 billion in assets1, Commerce Bancshares, Inc. is a registered bank holding company offering a full line of banking services, including payment solutions, investment management and securities brokerage. Commerce Bank, a subsidiary of Commerce Bancshares, Inc., leverages more than 150 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., Commerce Bank currently operates full-service banking facilities across the Midwest including the St. Louis and Kansas City metropolitan areas, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City, and Denver. It also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis, and Grand Rapids. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial offices, ATMs, online, mobile and through a 24/7 customer service line.
This story originally appeared on Fintel.