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

Jefferies Financial Group Inc. increased its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 100.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,190 shares of the financial services provider’s stock after purchasing an additional 15,145 shares during the period. Jefferies Financial Group Inc.’s holdings in Commerce Bancshares were worth $1,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Danske Bank A S acquired a new stake in Commerce Bancshares during the third quarter worth about $25,000. Geneos Wealth Management Inc. grew its holdings in Commerce Bancshares by 85.4% during the first 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 period. Daytona Street Capital LLC acquired a new stake in Commerce Bancshares during the fourth quarter worth about $25,000. Rothschild Investment LLC grew its holdings in Commerce Bancshares by 3,820.0% during the third quarter. Rothschild Investment LLC now owns 588 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 573 shares during the period. Finally, Laurel Wealth Advisors LLC acquired a new stake in Commerce Bancshares during the fourth quarter worth about $34,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Stock Performance

Shares of CBSH stock opened at $51.95 on Thursday. The stock’s fifty day moving average is $50.54 and its two-hundred day moving average is $51.78. The firm has a market capitalization of $7.57 billion, a P/E ratio of 12.46, a PEG ratio of 3.56 and a beta of 0.61. Commerce Bancshares, Inc. has a fifty-two week low of $46.99 and a fifty-two week high of $63.19.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. The company had revenue of $475.69 million for the quarter, compared to analyst estimates of $481.94 million. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. On average, equities analysts forecast that Commerce Bancshares, Inc. will post 4.12 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be issued a $0.275 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.1%. Commerce Bancshares’s dividend payout ratio is presently 26.38%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a report on Friday, March 27th. Morgan Stanley lowered their price target on shares of Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, March 2nd. Wall Street Zen raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Wells Fargo & Company reduced their price target on Commerce Bancshares from $60.00 to $53.00 and set an “equal weight” rating for the company in a report on Monday, March 30th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $54.00 price target (up from $53.00) on shares of Commerce Bancshares in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $59.30.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, Director Timothy S. Dunn acquired 2,500 shares of the business’s stock in a transaction on Friday, March 13th. The stock was bought at an average price of $47.71 per share, for a total transaction of $119,275.00. Following the acquisition, the director owned 5,403 shares in the company, valued at approximately $257,777.13. The trade was a 86.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Margaret M. Rowe sold 861 shares of the stock in a transaction dated 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 sale, 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. 1.80% of the stock is owned by insiders.

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.