MTM Investment Management LLC Buys 3,216 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

MTM Investment Management LLC boosted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,080 shares of the financial services provider’s stock after purchasing an additional 3,216 shares during the quarter. Commerce Bancshares makes up 1.5% of MTM Investment Management LLC’s investment portfolio, making the stock its 14th largest position. MTM Investment Management LLC’s holdings in Commerce Bancshares were worth $3,931,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Commerce Bancshares by 7.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock valued at $142,951,000 after acquiring an additional 163,782 shares during the last quarter. Boston Trust Walden Corp raised its holdings in shares of Commerce Bancshares by 17.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock valued at $91,524,000 after buying an additional 219,826 shares in the last quarter. NFJ Investment Group LLC raised its holdings in shares of Commerce Bancshares by 17.7% during the 3rd quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock valued at $42,006,000 after buying an additional 106,316 shares in the last quarter. Mutual Advisors LLC raised its holdings in shares of Commerce Bancshares by 4.8% during the 4th quarter. Mutual Advisors LLC now owns 474,189 shares of the financial services provider’s stock valued at $30,244,000 after buying an additional 21,922 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in Commerce Bancshares by 7,407.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock worth $21,556,000 after purchasing an additional 358,066 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Commerce Bancshares news, CEO John W. Kemper sold 26,042 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total value of $1,752,105.76. Following the completion of the sale, the chief executive officer now directly owns 211,929 shares in the company, valued at approximately $14,258,583.12. This represents a 10.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Charles G. Kim sold 13,493 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $67.76, for a total value of $914,285.68. Following the completion of the sale, the chief financial officer now owns 86,246 shares of the company’s stock, valued at $5,844,028.96. This represents a 13.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,944 shares of company stock valued at $5,835,512 in the last quarter. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Commerce Bancshares Stock Performance

Shares of Commerce Bancshares stock opened at $66.19 on Thursday. Commerce Bancshares, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75. The company has a market capitalization of $8.49 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.27 and a beta of 0.80. The company has a fifty day moving average of $65.15 and a 200 day moving average of $64.24.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. The company had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $0.84 EPS. Analysts forecast that Commerce Bancshares, Inc. will post 3.9 EPS for the current year.

Commerce Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, March 7th. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio (DPR) is 26.93%.

About Commerce Bancshares

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.