Jefferies Financial Group Inc. Makes New $751,000 Investment in Commerce Bancshares, Inc. $CBSH

Jefferies Financial Group Inc. purchased a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,000 shares of the financial services provider’s stock, valued at approximately $751,000.

A number of other large investors also recently modified their holdings of CBSH. Vanguard Group Inc. raised its position in Commerce Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock valued at $768,877,000 after purchasing an additional 1,098,142 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Commerce Bancshares by 62.9% during the first quarter. Bank of America Corp DE now owns 1,032,011 shares of the financial services provider’s stock worth $50,775,000 after purchasing an additional 398,670 shares during the last quarter. Verition Fund Management LLC grew its holdings in shares of Commerce Bancshares by 39.8% during the fourth quarter. Verition Fund Management LLC now owns 631,981 shares of the financial services provider’s stock worth $33,078,000 after purchasing an additional 179,894 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Commerce Bancshares by 29.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock worth $193,999,000 after purchasing an additional 894,183 shares during the last quarter. Finally, Mosaic Family Wealth Partners LLC acquired a new position in shares of Commerce Bancshares in the first quarter valued at approximately $3,390,000. 70.26% of the stock is currently owned by institutional investors.

Insider Transactions at Commerce Bancshares

In other news, CFO Charles G. Kim sold 19,771 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $59.18, for a total transaction of $1,170,047.78. Following the completion of the sale, the chief financial officer directly owned 119,410 shares in the company, valued at $7,066,683.80. This represents a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Derrick Brooks sold 1,041 shares of Commerce Bancshares stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $59.63, for a total transaction of $62,074.83. Following the transaction, the senior vice president directly owned 13,117 shares of the company’s stock, valued at $782,166.71. This represents a 7.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 32,484 shares of company stock worth $1,936,055. Company insiders own 1.80% of the company’s stock.

Commerce Bancshares Price Performance

Shares of CBSH opened at $58.04 on Monday. Commerce Bancshares, Inc. has a 1 year low of $46.99 and a 1 year high of $60.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 2.06 and a beta of 0.59. The business has a 50-day moving average of $58.64 and a 200-day moving average of $53.97.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.The company had revenue of $498.91 million for the quarter, compared to analyst estimates of $492.22 million. During the same period in the previous year, the firm earned $1.14 earnings per share. As a group, equities research analysts anticipate that Commerce Bancshares, Inc. will post 4.25 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, September 4th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, September 4th. This represents a $1.10 annualized dividend and a yield of 1.9%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.63%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CBSH shares. Keefe, Bruyette & Woods lifted their target price on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Piper Sandler restated a “neutral” rating and issued a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Morgan Stanley reaffirmed a “positive” rating and set a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a research note on Monday, June 29th. Weiss Ratings upgraded shares of Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Finally, TD Cowen reissued a “hold” rating and issued a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Commerce Bancshares currently has a consensus rating of “Hold” and a consensus target price of $63.29.

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.