Jump Financial LLC Acquires New Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Jump Financial LLC acquired a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,801 shares of the financial services provider's stock, valued at approximately $611,000.

Several other hedge funds have also added to or reduced their stakes in CBSH. CoreFirst Bank & Trust bought a new stake in Commerce Bancshares in the fourth quarter valued at approximately $33,000. Marshall Investment Management LLC acquired a new stake in shares of Commerce Bancshares during the fourth quarter worth $35,000. V Square Quantitative Management LLC lifted its stake in Commerce Bancshares by 84.0% in the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider's stock valued at $49,000 after buying an additional 361 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Commerce Bancshares by 46.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 268 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Commerce Bancshares by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider's stock valued at $71,000 after buying an additional 187 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Price Performance

CBSH traded down $0.10 during trading hours on Tuesday, reaching $60.93. The company's stock had a trading volume of 56,163 shares, compared to its average volume of 617,695. The business's 50-day moving average is $60.84 and its 200-day moving average is $64.27. Commerce Bancshares, Inc. has a fifty-two week low of $49.97 and a fifty-two week high of $72.75. The stock has a market cap of $8.17 billion, a PE ratio of 15.19, a P/E/G ratio of 2.13 and a beta of 0.71.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.05. The company had revenue of $428.05 million for the quarter, compared to the consensus estimate of $417.85 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. Analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Friday, June 6th. Commerce Bancshares's dividend payout ratio (DPR) is presently 26.63%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CBSH shares. Morgan Stanley upgraded shares of Commerce Bancshares from an "underweight" rating to an "equal weight" rating and reduced their price target for the company from $66.00 to $58.00 in a research report on Monday, April 7th. Wells Fargo & Company lowered their price target on shares of Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Piper Sandler boosted their target price on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a report on Thursday, April 17th. StockNews.com lowered Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $63.20.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 1,719 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $67.30, for a total value of $115,688.70. Following the completion of the transaction, the senior vice president now directly owns 18,688 shares of the company's stock, valued at approximately $1,257,702.40. This trade represents a 8.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman David W. Kemper sold 3,708 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $66.16, for a total value of $245,321.28. Following the sale, the chairman now directly owns 1,208,311 shares in the company, valued at $79,941,855.76. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,842 shares of company stock worth $3,423,857 over the last ninety days. 3.10% of the stock is currently owned by company insiders.

About Commerce Bancshares

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.