Mosaic Family Wealth Partners LLC Buys Shares of 68,900 Commerce Bancshares, Inc. $CBSH

Mosaic Family Wealth Partners LLC purchased a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 68,900 shares of the financial services provider’s stock, valued at approximately $3,390,000.

Other hedge funds also recently made changes to their positions in the company. Tudor Investment Corp ET AL raised its stake in shares of Commerce Bancshares by 5,922.5% during the 3rd quarter. Tudor Investment Corp ET AL now owns 501,859 shares of the financial services provider’s stock worth $29,991,000 after purchasing an additional 493,526 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Commerce Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock valued at $768,877,000 after buying an additional 1,098,142 shares during the last quarter. Verition Fund Management LLC grew its stake in shares of Commerce Bancshares by 39.8% in the fourth quarter. Verition Fund Management LLC now owns 631,981 shares of the financial services provider’s stock valued at $33,078,000 after buying an additional 179,894 shares in the last quarter. Mattern Capital Management LLC grew its stake in shares of Commerce Bancshares by 14.4% in the fourth quarter. Mattern Capital Management LLC now owns 161,306 shares of the financial services provider’s stock valued at $8,443,000 after buying an additional 20,277 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Commerce Bancshares by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 2,780,678 shares of the financial services provider’s stock worth $147,097,000 after buying an additional 174,863 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CBSH. TD Cowen reaffirmed a “hold” rating and set a $54.00 price target (up from $53.00) on shares of Commerce Bancshares in a research report on Thursday, April 23rd. Wall Street Zen downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Wells Fargo & Company boosted their price objective on shares of Commerce Bancshares from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday. Keefe, Bruyette & Woods upped their target price 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. Finally, Piper Sandler raised their target price on shares of Commerce Bancshares from $58.50 to $59.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $58.67.

Commerce Bancshares Trading Up 1.2%

CBSH opened at $58.27 on Friday. Commerce Bancshares, Inc. has a 1-year low of $46.99 and a 1-year high of $63.19. The stock’s fifty day simple moving average is $54.05 and its 200 day simple moving average is $52.57. The stock has a market cap of $8.49 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 2.95 and a beta of 0.58.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. The firm had revenue of $475.69 million during the quarter, compared to analysts’ expectations of $481.94 million. During the same period in the previous year, the business posted $0.98 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts forecast that Commerce Bancshares, Inc. will post 4.15 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, June 5th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.38%.

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.