MTM Investment Management LLC Purchases 18,330 Shares of Commerce Bancshares, Inc. $CBSH

MTM Investment Management LLC boosted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 26.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 87,961 shares of the financial services provider’s stock after buying an additional 18,330 shares during the quarter. Commerce Bancshares accounts for 1.5% of MTM Investment Management LLC’s investment portfolio, making the stock its 14th biggest holding. MTM Investment Management LLC’s holdings in Commerce Bancshares were worth $4,604,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Heartland Bank & Trust Co raised its position in Commerce Bancshares by 4.4% during the fourth quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock worth $240,000 after acquiring an additional 192 shares in the last quarter. Profund Advisors LLC raised its position in Commerce Bancshares by 4.4% during the third quarter. Profund Advisors LLC now owns 4,682 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 197 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in Commerce Bancshares by 2.7% during the third quarter. Crossmark Global Holdings Inc. now owns 8,265 shares of the financial services provider’s stock worth $494,000 after acquiring an additional 215 shares in the last quarter. Elser Financial Planning Inc raised its position in Commerce Bancshares by 5.0% during the fourth quarter. Elser Financial Planning Inc now owns 4,531 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 215 shares in the last quarter. Finally, Centerpoint Advisory Group raised its position in Commerce Bancshares by 5.0% during the fourth quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 215 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CBSH has been the topic of several analyst reports. Morgan Stanley dropped their price target on shares of Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, March 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $58.50 price target (up from $56.00) on shares of Commerce Bancshares in a research report on Thursday, April 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Commerce Bancshares from $56.00 to $57.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a research report on Friday, March 27th. Finally, Wall Street Zen raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Commerce Bancshares has a consensus rating of “Hold” and a consensus price target of $59.30.

Commerce Bancshares Stock Performance

CBSH stock opened at $51.95 on Thursday. The company’s 50-day simple moving average is $50.54 and its 200 day simple moving average is $51.78. Commerce Bancshares, Inc. has a 52 week low of $46.99 and a 52 week high of $63.19. The company has a market capitalization of $7.57 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.96 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $481.94 million. During the same period in the prior year, the company posted $0.98 earnings per share. Commerce Bancshares’s revenue was up 11.1% compared to the same quarter last year. On average, analysts forecast that Commerce Bancshares, Inc. will post 4.12 EPS for the current year.

Commerce Bancshares Dividend Announcement

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

Insider Activity at Commerce Bancshares

In other news, SVP Margaret M. Rowe sold 861 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $51.69, for a total value of $44,505.09. Following the completion of the transaction, the senior vice president owned 5,742 shares of the company’s stock, valued at approximately $296,803.98. This represents a 13.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kim L. Jakovich sold 949 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $51.45, for a total transaction of $48,826.05. Following the completion of the transaction, the senior vice president directly owned 12,741 shares of the company’s stock, valued at $655,524.45. This trade represents a 6.93% decrease in their position. The SEC filing for this sale provides additional information. 1.80% of the stock is currently owned by corporate insiders.

Commerce Bancshares Company Profile

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.