Mutual Advisors LLC Has $25.79 Million Stake in Commerce Bancshares, Inc. $CBSH

Key Points

• Mutual Advisors LLC increased its stake in Commerce Bancshares (CBSH) by 5.1% in Q4 to 492,663 shares, worth about $25.79 million, representing roughly 0.37% of the company and its 26th largest holding.
• CBSH reported Q results of $0.96 EPS (beating estimates by $0.02) with revenue of $475.69M, up 11.1% year‑over‑year but slightly below analyst revenue expectations, and declared a quarterly dividend of $0.275 (2.1% yield).
• Insiders sold 29,477 shares (~$1.59M) last quarter while institutional ownership is about 70.26%; analysts have an average rating of "Hold" with a consensus target price near $59.16.

Mutual Advisors LLC lifted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 492,663 shares of the financial services provider's stock after buying an additional 23,874 shares during the quarter. Commerce Bancshares comprises approximately 0.6% of Mutual Advisors LLC's investment portfolio, making the stock its 26th largest holding. Mutual Advisors LLC owned about 0.37% of Commerce Bancshares worth $25,786,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CBSH. Geneos Wealth Management Inc. grew its stake in Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 216 shares during the period. Invesco Ltd. grew its stake in Commerce Bancshares by 2.0% in the second quarter. Invesco Ltd. now owns 865,052 shares of the financial services provider's stock valued at $53,780,000 after acquiring an additional 16,610 shares during the period. Cresset Asset Management LLC grew its stake in Commerce Bancshares by 3.0% in the second quarter. Cresset Asset Management LLC now owns 10,151 shares of the financial services provider's stock valued at $631,000 after acquiring an additional 300 shares during the period. Jump Financial LLC acquired a new stake in Commerce Bancshares in the second quarter valued at approximately $376,000. Finally, California Public Employees Retirement System grew its stake in Commerce Bancshares by 4.8% in the second quarter. California Public Employees Retirement System now owns 208,148 shares of the financial services provider's stock valued at $12,941,000 after acquiring an additional 9,483 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Commerce Bancshares Trading Up 1.6%

NASDAQ CBSH opened at $52.03 on Friday. The firm has a market capitalization of $7.64 billion, a P/E ratio of 12.48, a PEG ratio of 3.66 and a beta of 0.60. The business has a fifty day simple moving average of $50.19 and a 200 day simple moving average of $51.71. Commerce Bancshares, Inc. has a 12 month low of $46.99 and a 12 month high of $63.19.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.02. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.The business had revenue of $475.69 million during the quarter, compared to analyst estimates of $481.94 million. During the same period in the prior year, the firm posted $0.98 EPS. Commerce Bancshares's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that Commerce Bancshares, Inc. will post 4.1 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

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

Wall Street Analysts Forecast Growth

CBSH has been the subject of a number of research reports. Morgan Stanley reduced their price objective on Commerce Bancshares from $67.00 to $65.00 and set an "equal weight" rating for the company in a research note on Monday, March 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Commerce Bancshares in a report on Friday, March 27th. Zacks Research upgraded shares of Commerce Bancshares from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 4th. TD Cowen restated a "hold" rating and set a $54.00 price objective (up from $53.00) on shares of Commerce Bancshares in a report on Thursday, April 23rd. Finally, Wells Fargo & Company cut their price target on Commerce Bancshares from $60.00 to $53.00 and set an "equal weight" rating for the company in a research note on Monday, March 30th. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $59.16.

Insider Buying and Selling at Commerce Bancshares

In related news, SVP Kim L. Jakovich sold 949 shares of the stock in a transaction that occurred on 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 sale, the senior vice president directly owned 12,741 shares of the company's stock, valued at approximately $655,524.45. This trade represents a 6.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John W. Kemper sold 23,397 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $53.99, for a total value of $1,263,204.03. Following the sale, the chief executive officer directly owned 206,528 shares of the company's stock, valued at $11,150,446.72. The trade was a 10.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,477 shares of company stock valued at $1,586,655 in the last quarter. 1.80% of the stock is owned by company 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.

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