Commerce Bancshares, Inc. (NASDAQ:CBSH) Stake Raised by Mattern Capital Management LLC

Mattern Capital Management LLC boosted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,432 shares of the financial services provider’s stock after acquiring an additional 2,530 shares during the quarter. Mattern Capital Management LLC owned about 0.11% of Commerce Bancshares worth $8,937,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sound Stewardship LLC lifted its stake in Commerce Bancshares by 3.9% during the third quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock valued at $258,000 after buying an additional 163 shares in the last quarter. Atria Wealth Solutions Inc. lifted its stake in Commerce Bancshares by 1.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider’s stock valued at $689,000 after buying an additional 166 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in Commerce Bancshares by 4.9% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider’s stock valued at $244,000 after buying an additional 183 shares in the last quarter. Verde Capital Management lifted its stake in Commerce Bancshares by 5.4% during the fourth quarter. Verde Capital Management now owns 3,573 shares of the financial services provider’s stock valued at $223,000 after buying an additional 183 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Commerce Bancshares by 19.6% during the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock valued at $71,000 after buying an additional 187 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CBSH has been the subject of several research reports. Wells Fargo & Company raised their price target on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler raised their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Finally, Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.83.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $64.90 on Friday. The firm has a market cap of $8.32 billion, a PE ratio of 16.18, a PEG ratio of 2.17 and a beta of 0.80. The firm’s 50 day moving average price is $64.86 and its 200 day moving average price is $64.33. Commerce Bancshares, Inc. has a twelve month low of $47.89 and a twelve month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. During the same quarter last year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.93 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be given a $0.275 dividend. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.69%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.93%.

Insider Activity

In other news, VP David L. Orf sold 1,036 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total value of $70,696.64. Following the sale, the vice president now owns 22,175 shares in the company, valued at approximately $1,513,222. This trade represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Charles G. Kim sold 13,493 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $67.76, for a total transaction of $914,285.68. Following the completion of the sale, the chief financial officer now owns 86,246 shares in the company, valued at approximately $5,844,028.96. The trade was a 13.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,054 shares of company stock valued at $5,771,192 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

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.