Commerce Bancs Stock Price, News & Analysis

Commerce Bancshares, Inc. (NASDAQ: CBSH) has declared a quarterly dividend of $0.27 per share on its common stock. This dividend will be payable on June 20, 2023, to stockholders of record as of June 5, 2023. With $32 billion in assets as of March 31, 2023, Commerce Bancshares provides a range of banking services through its subsidiary, Commerce Bank, which operates full-service banking facilities and offers payment solutions across the U.S.

Commerce Bancshares, Inc. will host its annual meeting on April 19, 2023, at 9:30 a.m. Central Daylight Time. Shareholders as of February 15, 2023, can attend virtually using a control number found on their proxy card or notice. Guests without a control number may join but will not have voting rights or the ability to ask questions. Commerce Bancshares, with $32 billion in assets as of March 31, 2023, operates a full range of banking services across the Midwest, including St. Louis and Kansas City. The company emphasizes its commitment to providing high-touch service through various channels, including online and mobile banking.

Commerce Bancshares, Inc. (NASDAQ: CBSH) reported earnings of $0.95 per share for Q1 2023, up from $0.92 in Q1 2022 but down from $1.05 in Q4 2022. Net income totaled $119.5 million, slightly higher than $118.2 million a year ago but less than $131.6 million last quarter. Key highlights include a decrease in net interest income to $251.6 million, a 5.1% drop in average deposits to $24.68 billion, and a $306,000 net securities loss compared to a gain of $8.9 million previously. Average loans increased by 3.3% to $16.4 billion. The efficiency ratio stood at 57.5%, with a return on average assets of 1.54% and return on average equity of 18.75%. The company’s capital and liquidity positions remain strong amidst industry uncertainties.

Commerce Bancshares, Inc. (NASDAQ: CBSH) has declared a quarterly dividend of $0.27 per share, reflecting a 7% increase from the previous dividend of $0.252. This marks the 55th consecutive year of dividend increases for the company. The dividend will be payable on March 27, 2023, to shareholders on record by March 7, 2023. As of December 31, 2022, the company holds $31.9 billion in assets, continuing to provide comprehensive banking services across the Midwest.