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

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

Commerce Bancshares Trading Down 0.2%

Shares of NASDAQ:CBSH opened at $53.53 on Friday. Commerce Bancshares has a 12 month low of $51.64 and a 12 month high of $72.75. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 4.71 and a beta of 0.62. The firm’s 50-day moving average is $56.59 and its 200 day moving average is $60.53.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.06 earnings per share 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 firm had revenue of $448.85 million during the quarter, compared to analysts’ expectations of $447.04 million. During the same period last year, the company earned $1.07 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Commerce Bancshares will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

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

Wall Street Analyst Weigh In

CBSH has been the topic of a number of recent analyst reports. Zacks Research lowered Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 27th. Hovde Group started coverage on shares of Commerce Bancshares in a research note on Monday, October 6th. They issued an “outperform” rating and a $70.00 price target on the stock. Morgan Stanley boosted their price objective on shares of Commerce Bancshares from $66.00 to $70.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. Cowen restated a “hold” rating on shares of Commerce Bancshares in a research note on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Commerce Bancshares from $65.00 to $60.00 and set a “market perform” rating for the company in a research note on Friday, October 17th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and a consensus price target of $65.29.

Institutional Trading of Commerce Bancshares

A number of hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC increased its holdings 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 acquiring an additional 296 shares during the period. IMA Advisory Services Inc. bought a new stake in Commerce Bancshares during the first quarter valued at about $29,000. Geneos Wealth Management Inc. grew its stake in Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 216 shares during the last quarter. Quent Capital LLC purchased a new position in Commerce Bancshares in the third quarter valued at about $31,000. Finally, CoreFirst Bank & Trust bought a new position in Commerce Bancshares in the second quarter worth about $33,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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.