15,045 Shares in Commerce Bancshares, Inc. $CBSH Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. acquired a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,045 shares of the financial services provider’s stock, valued at approximately $899,000.

Several other large investors also recently added to or reduced their stakes in CBSH. Geneos Wealth Management Inc. increased its stake in shares of Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 216 shares during the last quarter. Quent Capital LLC acquired a new position in shares of Commerce Bancshares during the 3rd quarter valued at about $31,000. CoreFirst Bank & Trust purchased a new stake in shares of Commerce Bancshares in the second quarter valued at about $33,000. Rothschild Investment LLC grew its holdings in shares of Commerce Bancshares by 3,820.0% in the third quarter. Rothschild Investment LLC now owns 588 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 573 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new stake in Commerce Bancshares during the third quarter worth about $48,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on CBSH. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commerce Bancshares in a research note on Monday, December 29th. Zacks Research raised shares of Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. TD Cowen cut their price target on shares of Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, January 7th. Piper Sandler set a $62.00 price target on shares of Commerce Bancshares and gave the company a “neutral” rating in a research report on Monday, January 26th. Finally, Morgan Stanley decreased their price objective on Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Commerce Bancshares has an average rating of “Hold” and an average target price of $61.51.

Insider Buying and Selling

In other news, SVP Kim L. Jakovich sold 949 shares of Commerce Bancshares stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $51.45, for a total value 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. The trade was a 6.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Derrick Brooks sold 1,044 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $54.40, for a total value of $56,793.60. Following the completion of the sale, the senior vice president owned 14,585 shares in the company, valued at $793,424. This represents a 6.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,477 shares of company stock valued at $1,586,655 over the last quarter. 3.10% of the stock is owned by corporate insiders.

Commerce Bancshares Price Performance

Shares of CBSH stock opened at $47.49 on Friday. Commerce Bancshares, Inc. has a 1-year low of $47.38 and a 1-year high of $63.19. The firm has a market cap of $6.98 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 2.42 and a beta of 0.61. The company has a 50-day moving average of $52.98 and a two-hundred day moving average of $53.51.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. Commerce Bancshares had a net margin of 26.51% and a return on equity of 15.34%. The business had revenue of $449.36 million for the quarter, compared to the consensus estimate of $442.47 million. During the same period in the previous year, the firm earned $1.01 EPS. The business’s revenue was up 6.5% on a year-over-year basis. Sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Friday, March 6th will be given a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.10 dividend on an annualized basis and a yield of 2.3%. Commerce Bancshares’s payout ratio is presently 26.25%.

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.