Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Purchased by Mattern Capital Management LLC

Mattern Capital Management LLC grew its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSHFree Report) by 28.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 135,941 shares of the financial services provider’s stock after purchasing an additional 30,138 shares during the period. Mattern Capital Management LLC’s holdings in Commerce Bancshares were worth $6,522,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CBSH. Moneta Group Investment Advisors LLC raised its stake in shares of Commerce Bancshares by 102,920.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 133,790,172 shares of the financial services provider’s stock worth $9,107,097,000 after buying an additional 133,660,305 shares during the last quarter. Vanguard Group Inc. grew its holdings in Commerce Bancshares by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 11,332,270 shares of the financial services provider’s stock valued at $749,743,000 after buying an additional 117,162 shares during the period. BlackRock Inc. grew its holdings in shares of Commerce Bancshares by 2.0% during the 1st quarter. BlackRock Inc. now owns 10,934,079 shares of the financial services provider’s stock worth $638,003,000 after purchasing an additional 217,024 shares during the period. State Street Corp grew its holdings in shares of Commerce Bancshares by 18.9% during the 2nd quarter. State Street Corp now owns 7,736,375 shares of the financial services provider’s stock worth $376,761,000 after purchasing an additional 1,227,825 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in shares of Commerce Bancshares by 2.1% during the 1st quarter. Lazard Asset Management LLC now owns 5,304,379 shares of the financial services provider’s stock worth $379,739,000 after purchasing an additional 111,594 shares during the period. 69.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Benjamin F. Rassieur III sold 1,785 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $53.83, for a total value of $96,086.55. Following the transaction, the director now directly owns 33,567 shares of the company’s stock, valued at approximately $1,806,911.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Commerce Bancshares news, Director Benjamin F. Rassieur III sold 1,785 shares of Commerce Bancshares stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $53.83, for a total value of $96,086.55. Following the transaction, the director now directly owns 33,567 shares of the company’s stock, valued at approximately $1,806,911.61. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David W. Kemper sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $51.00, for a total value of $1,020,000.00. Following the sale, the director now owns 1,181,172 shares in the company, valued at $60,239,772. The disclosure for this sale can be found here. Insiders sold a total of 24,445 shares of company stock worth $1,261,945 in the last three months. 3.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods upped their price target on Commerce Bancshares from $54.00 to $56.00 and gave the stock a “market perform” rating in a report on Friday, January 19th. Morgan Stanley dropped their price target on Commerce Bancshares from $49.00 to $46.67 and set an “equal weight” rating on the stock in a research report on Friday, December 1st. Wells Fargo & Company dropped their target price on Commerce Bancshares from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, October 20th. Jefferies Financial Group increased their target price on Commerce Bancshares from $51.00 to $52.00 in a research report on Tuesday, October 10th. Finally, Bank of America initiated coverage on Commerce Bancshares in a research note on Thursday, January 11th. They issued a “neutral” rating and a $55.00 price target for the company. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $51.78.

Check Out Our Latest Stock Report on Commerce Bancshares

Commerce Bancshares Stock Performance

CBSH traded down $1.03 during trading on Monday, reaching $50.50. The company had a trading volume of 27,541 shares, compared to its average volume of 488,643. The firm’s 50-day simple moving average is $53.00 and its 200 day simple moving average is $50.27. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 14.19 and a beta of 0.80. Commerce Bancshares, Inc. has a 12-month low of $40.91 and a 12-month high of $64.74.

Commerce Bancshares (NASDAQ:CBSHGet Free Report) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The firm had revenue of $393.30 million during the quarter, compared to analyst estimates of $386.34 million. Commerce Bancshares had a return on equity of 17.46% and a net margin of 24.41%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company posted $0.99 EPS. On average, sell-side analysts expect that Commerce Bancshares, Inc. will post 3.23 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 25th. Stockholders of record on Thursday, March 7th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.14%. Commerce Bancshares’s dividend payout ratio is 29.75%.

About Commerce Bancshares

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CBSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commerce Bancshares, Inc. (NASDAQ:CBSHFree Report).

Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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