MTM Investment Management LLC Has $4.60 Million Stake in Commerce Bancshares, Inc. $CBSH

MTM Investment Management LLC boosted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 26.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 87,961 shares of the financial services provider’s stock after purchasing an additional 18,330 shares during the quarter. Commerce Bancshares accounts for about 1.5% of MTM Investment Management LLC’s investment portfolio, making the stock its 14th biggest holding. MTM Investment Management LLC owned about 0.07% of Commerce Bancshares worth $4,604,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CBSH. Geneos Wealth Management Inc. grew its holdings in Commerce Bancshares by 85.4% during 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 period. Invesco Ltd. grew its holdings in Commerce Bancshares by 2.0% during the second quarter. Invesco Ltd. now owns 865,052 shares of the financial services provider’s stock valued at $53,780,000 after purchasing an additional 16,610 shares during the period. Cresset Asset Management LLC grew its holdings in Commerce Bancshares by 3.0% during the second quarter. Cresset Asset Management LLC now owns 10,151 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 300 shares during the period. Jump Financial LLC acquired a new position in Commerce Bancshares during the second quarter valued at approximately $376,000. Finally, California Public Employees Retirement System grew its holdings in Commerce Bancshares by 4.8% during the second quarter. California Public Employees Retirement System now owns 208,148 shares of the financial services provider’s stock valued at $12,941,000 after purchasing an additional 9,483 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In other Commerce Bancshares news, Director Timothy S. Dunn bought 2,500 shares of Commerce Bancshares stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average price of $47.71 per share, for a total transaction of $119,275.00. Following the completion of the acquisition, the director owned 5,403 shares of the company’s stock, valued at $257,777.13. This trade represents a 86.12% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Margaret M. Rowe sold 861 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $51.69, for a total transaction of $44,505.09. Following the transaction, the senior vice president owned 5,742 shares of the company’s stock, valued at $296,803.98. The trade was a 13.04% decrease in their position. The SEC filing for this sale provides additional information. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CBSH has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Commerce Bancshares in a report on Friday, March 27th. Keefe, Bruyette & Woods boosted their price objective on shares of Commerce Bancshares from $56.00 to $57.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research upgraded shares of Commerce Bancshares from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, Piper Sandler restated a “neutral” rating and set a $58.50 price objective (up from $56.00) on shares of Commerce Bancshares in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $59.30.

Commerce Bancshares Trading Down 0.9%

Shares of CBSH opened at $51.95 on Thursday. Commerce Bancshares, Inc. has a 12 month low of $46.99 and a 12 month high of $63.19. The firm has a fifty day simple moving average of $50.54 and a 200 day simple moving average of $51.78. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 3.56 and a beta of 0.61.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.94 by $0.02. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. The business had revenue of $475.69 million during the quarter, compared to analysts’ expectations of $481.94 million. During the same quarter in the prior year, the company posted $0.98 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, research analysts predict that Commerce Bancshares, Inc. will post 4.12 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 5th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.1%. Commerce Bancshares’s dividend payout ratio is presently 26.38%.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.