Mosaic Family Wealth Partners LLC Invests $3.39 Million in Commerce Bancshares, Inc. $CBSH

Key Points

• Mosaic Family Wealth Partners bought a new stake in Commerce Bancshares, purchasing 68,900 shares worth about $3.39 million in the first quarter.
• Wall Street sentiment on the stock remains cautious: analysts have a consensus Hold rating, with an average price target of $58.67.
• Commerce Bancshares reported EPS of $0.96, beating estimates, and recently paid a quarterly dividend of $0.275 per share, equal to a 1.9% annualized yield.

Mosaic Family Wealth Partners LLC purchased a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 68,900 shares of the financial services provider's stock, valued at approximately $3,390,000.

A number of other hedge funds have also modified their holdings of CBSH. Apriem Advisors boosted its stake in Commerce Bancshares by 5.0% during the 4th quarter. Apriem Advisors now owns 4,018 shares of the financial services provider's stock worth $210,000 after acquiring an additional 191 shares during the last quarter. Heartland Bank & Trust Co increased its stake in Commerce Bancshares by 4.4% in the fourth quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider's stock valued at $240,000 after purchasing an additional 192 shares in the last quarter. Outlook Wealth Advisors LLC raised its holdings in Commerce Bancshares by 3.7% in the fourth quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider's stock worth $311,000 after purchasing an additional 214 shares during the period. Crossmark Global Holdings Inc. raised its holdings in Commerce Bancshares by 2.7% in the third quarter. Crossmark Global Holdings Inc. now owns 8,265 shares of the financial services provider's stock worth $494,000 after purchasing an additional 215 shares during the period. Finally, Elser Financial Planning Inc boosted its position in shares of 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 purchasing an additional 215 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CBSH has been the subject of several research analyst reports. Piper Sandler boosted their price target on shares of Commerce Bancshares from $58.50 to $59.00 and gave the company a "neutral" rating in a report on Friday, June 26th. Keefe, Bruyette & Woods raised their price objective on Commerce Bancshares from $56.00 to $57.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 13th. TD Cowen reiterated a "hold" rating and set a $54.00 target price (up from $53.00) on shares of Commerce Bancshares in a report on Thursday, April 23rd. Hovde Group decreased their target price on Commerce Bancshares from $63.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Company increased their price target on Commerce Bancshares from $53.00 to $57.00 and gave the stock an "equal weight" rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Commerce Bancshares currently has a consensus rating of "Hold" and an average price target of $58.67.

Commerce Bancshares Stock Up 1.2%

Commerce Bancshares stock opened at $58.27 on Friday. The company has a 50 day moving average of $54.05 and a 200-day moving average of $52.57. Commerce Bancshares, Inc. has a twelve month low of $46.99 and a twelve month high of $63.19. The stock has a market capitalization 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 - Get Free Report) last issued 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. The business had revenue of $475.69 million for the quarter, compared to analyst estimates of $481.94 million. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $0.98 earnings per share. Equities analysts anticipate that Commerce Bancshares, Inc. will post 4.15 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

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

Commerce Bancshares 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.

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