Jefferies Financial Group Inc. Takes Position in Commerce Bancshares, Inc. $CBSH

Jefferies Financial Group Inc. acquired a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) in the third quarter, Holdings Channel reports. The firm acquired 15,045 shares of the financial services provider’s stock, valued at approximately $899,000.

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

Insider Transactions at Commerce Bancshares

In other news, SVP Derrick Brooks sold 1,044 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $54.40, for a total transaction of $56,793.60. Following the completion of the sale, the senior vice president owned 14,585 shares in the company, valued at approximately $793,424. The trade was a 6.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Margaret M. Rowe sold 861 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $51.69, for a total transaction of $44,505.09. Following the completion of the transaction, the senior vice president owned 5,742 shares of the company’s stock, valued at approximately $296,803.98. The trade was a 13.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,477 shares of company stock valued at $1,586,655 over the last three months. 3.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $47.49 on Friday. Commerce Bancshares, Inc. has a 12 month low of $47.38 and a 12 month high of $63.19. The firm has a market capitalization 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 business’s fifty day moving average price is $52.98 and its 200 day moving average price is $53.51.

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

Commerce Bancshares Dividend Announcement

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

About Commerce Bancshares

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.