Welcome to our dedicated page for Commerce Bancs news (Ticker: CBSH), a resource for investors and traders seeking the latest updates and insights on Commerce Bancs stock.
Commerce Bancs (CBSH) provides essential financial services through its consumer, commercial, and wealth management divisions across Midwest communities. This dedicated news hub offers investors and stakeholders timely access point for all official announcements and market developments.
Track CBSH's latest earnings reports, leadership updates, and strategic initiatives through verified press releases. Our curated feed includes regulatory filings, product launches, and community partnership announcements – all organized for efficient research.
Key coverage areas include retail banking innovations, corporate lending expansions, and wealth management service enhancements. Users will find detailed reporting on mergers/acquisitions, dividend declarations, and governance changes impacting this regional banking leader.
Bookmark this page for streamlined monitoring of CBSH's financial trajectory. Combine our updates with SEC filings and earnings call transcripts available through Stock Titan's research tools for complete market analysis.
Commerce Bancshares (NASDAQ: CBSH) has declared a quarterly cash dividend of $0.27 per share and a 5% stock dividend. The cash dividend will be paid on December 17, 2024, to stockholders of record as of December 3, 2024. The stock dividend is payable on December 18, 2024, with the same record date. No fractional shares will be issued, and shareholders will receive cash for fractional interests based on market value. Commerce Bancshares, with $31.5 billion in assets, operates banking facilities across the Midwest and maintains commercial offices in multiple major cities.
Commerce Bancshares reported third quarter earnings of $1.07 per share, up from $0.92 in Q3 2023. Net income was $138.0 million, compared to $120.6 million a year ago. For the first nine months of 2024, earnings per share totaled $3.00, up from $2.80 in 2023.
Key highlights:
- Net interest income was $262.4 million, up slightly from Q2
- Non-interest income increased 11.2% year-over-year to $159.0 million
- Average loans decreased 0.9% from Q2 to $17.0 billion
- Average deposits increased 0.3% to $24.4 billion
- Return on average assets was 1.80% and return on average equity was 16.81%
- The efficiency ratio improved to 56.3%
Credit quality remained strong, with non-accrual loans at 0.11% of total loans. The company maintained strong capital levels, with tangible common equity to tangible assets at 10.47%.
Commerce Bancshares, Inc. (NASDAQ: CBSH) has declared a quarterly dividend of $0.27 per share on its common stock. The dividend is payable on September 23, 2024 to stockholders of record as of September 5, 2024. Commerce Bancshares is a regional bank holding company with $30.6 billion in assets as of June 30, 2024. Its subsidiary, Commerce Bank, offers a full range of banking services, including payment solutions, investment management, and securities brokerage. The bank operates across the Midwest and maintains commercial offices in various cities beyond the region.
Commerce Bancshares reported earnings per share (EPS) of $1.07 for Q2 2024, a notable increase from $0.97 in Q2 2023 and $0.86 in Q1 2024. Net income for the quarter was $139.6 million, up from $127.8 million in the same period last year and $112.7 million in the prior quarter.
For the first six months of 2024, EPS totaled $1.93 compared to $1.88 in the same period last year, with net income at $252.2 million, up from $247.2 million.
Key metrics include a return on average assets of 1.67% and a return on average equity of 16.98% year-to-date. The net interest margin expanded by 22 basis points to 3.55%.
Revenue for Q2 2024 grew, with net interest income rising to $262.2 million and non-interest income to $152.2 million. Average loan balances increased to $17.2 billion, while total assets were $30.6 billion at quarter-end.
Commerce Bancshares, Inc. (NASDAQ: CBSH) announced that Visa Inc. accepted its 823,447 shares of Visa Class B-1 common stock in exchange for Visa Class B-2 and Visa Class C stock, resulting in a $175.5 million gain. The company plans to reposition $1.0 billion worth of debt securities to increase net interest income and improve securities quality.
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