Welcome to our dedicated page for Commerce Bancshares news (Ticker: CBSH), a resource for investors and traders seeking the latest updates and insights on Commerce Bancshares stock.
Commerce Bancshares Inc. (CBSH) is a prominent regional bank headquartered in Kansas City and St. Louis, Missouri. As a super-community bank, Commerce Bancshares provides a comprehensive suite of financial products and services, with a strong emphasis on high-quality, personalized customer service. The company operates over 200 branches across Missouri, Kansas, Illinois, Oklahoma, and Colorado, alongside commercial offices in key cities like Cincinnati, Nashville, and Dallas.
Commerce Bancshares offers a diverse range of services, including lending, payment systems and processing, trust and brokerage services, capital markets, and full-feature online banking. Customers can also access a vast network of ATMs and a central contact center for enhanced service convenience. The company’s financial products cater to both personal and business banking needs, ensuring a broad market reach.
Upholding the highest standards of governance and ethics, Commerce Bancshares is committed to meeting the rising expectations of its customers, retaining quality employees, supporting community initiatives, and minimizing environmental impact. The bank is managed by a fifth-generation family leadership, which empowers local managers to efficiently serve their communities.
With a robust financial foundation, Commerce Bancshares Inc. is valued at approximately $22 billion. Its subsidiaries expand its service offerings into mortgage banking, leasing, credit-related insurance, venture capital, and real estate. This diversification not only fortifies the bank’s market position but also enhances its capacity to offer comprehensive financial solutions to its clients.
For recent updates and news about Commerce Bancshares Inc., please refer to the latest news section below.
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.
FAQ
What is the current stock price of Commerce Bancshares (CBSH)?
What is the market cap of Commerce Bancshares (CBSH)?
What services does Commerce Bancshares Inc. offer?
Where does Commerce Bancshares operate?
What is the market value of Commerce Bancshares Inc.?
Who manages Commerce Bancshares Inc.?
Is Commerce Bancshares involved in any other financial activities?
Where are the headquarters of Commerce Bancshares Inc. located?
What sets Commerce Bancshares apart from other banks?
How does Commerce Bancshares support the community?
Does Commerce Bancshares offer online banking services?
How can I stay updated with the latest news about Commerce Bancshares Inc.?
