Mattern Capital Management LLC Has $8.94 Million Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Mattern Capital Management LLC boosted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,432 shares of the financial services provider’s stock after buying an additional 2,530 shares during the period. Mattern Capital Management LLC’s holdings in Commerce Bancshares were worth $8,937,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CBSH. First Bank & Trust boosted its stake in shares of Commerce Bancshares by 5.0% in the 4th quarter. First Bank & Trust now owns 5,909 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 281 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Commerce Bancshares by 8.2% in the 4th quarter. Concurrent Investment Advisors LLC now owns 30,607 shares of the financial services provider’s stock valued at $1,907,000 after purchasing an additional 2,327 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Commerce Bancshares by 15.6% in the 4th quarter. Handelsbanken Fonder AB now owns 34,258 shares of the financial services provider’s stock valued at $2,135,000 after purchasing an additional 4,630 shares in the last quarter. Ieq Capital LLC boosted its stake in shares of Commerce Bancshares by 25.0% in the 4th quarter. Ieq Capital LLC now owns 8,729 shares of the financial services provider’s stock valued at $544,000 after purchasing an additional 1,748 shares in the last quarter. Finally, Alberta Investment Management Corp boosted its stake in shares of Commerce Bancshares by 22.3% in the 4th quarter. Alberta Investment Management Corp now owns 46,208 shares of the financial services provider’s stock valued at $2,879,000 after purchasing an additional 8,437 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Stock Down 1.5 %

Commerce Bancshares stock opened at $64.90 on Friday. The stock has a 50-day simple moving average of $64.86 and a 200 day simple moving average of $64.33. Commerce Bancshares, Inc. has a 12-month low of $47.89 and a 12-month high of $72.75. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 16.18, a P/E/G ratio of 2.17 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.06. The firm had revenue of $422.10 million during the quarter, compared to analysts’ expectations of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 EPS. As a group, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.93 EPS for the current year.

Commerce Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.275 per share. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Friday, March 7th. Commerce Bancshares’s payout ratio is currently 26.93%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 500 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $68.55, for a total transaction of $34,275.00. Following the completion of the sale, the senior vice president now directly owns 22,265 shares of the company’s stock, valued at approximately $1,526,265.75. The trade was a 2.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John W. Kemper sold 26,042 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were 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 of the company’s stock, valued at approximately $14,258,583.12. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 86,054 shares of company stock valued at $5,771,192. 3.20% of the stock is currently owned by 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.