Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. reduced its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 94.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,496 shares of the financial services provider's stock after selling 70,199 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in Commerce Bancshares were worth $280,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda purchased a new stake in Commerce Bancshares in the fourth quarter valued at approximately $26,000. CoreFirst Bank & Trust acquired a new position in shares of Commerce Bancshares in the 4th quarter valued at about $33,000. Marshall Investment Management LLC acquired a new position in shares of Commerce Bancshares in the 4th quarter valued at about $35,000. V Square Quantitative Management LLC grew its holdings in shares of Commerce Bancshares by 84.0% during the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider's stock worth $49,000 after purchasing an additional 361 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Commerce Bancshares by 46.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock valued at $52,000 after buying an additional 268 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director June Mcallister Fowler sold 1,618 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $60.72, for a total value of $98,244.96. Following the sale, the director now owns 3,175 shares of the company's stock, valued at approximately $192,786. This trade represents a 33.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CBSH has been the topic of a number of research reports. Keefe, Bruyette & Woods cut their target price 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. Piper Sandler raised their price objective on Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a research report on Thursday, April 17th. Morgan Stanley raised Commerce Bancshares from an "underweight" rating to an "equal weight" rating and decreased their target price for the stock from $66.00 to $58.00 in a research report on Monday, April 7th. Wells Fargo & Company dropped their target price on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Finally, Wall Street Zen cut Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $63.20.

Commerce Bancshares Price Performance

CBSH traded down $0.24 during trading on Friday, hitting $63.02. The company had a trading volume of 928,930 shares, compared to its average volume of 597,925. Commerce Bancshares, Inc. has a 1-year low of $49.97 and a 1-year high of $72.75. The company has a market cap of $8.41 billion, a PE ratio of 15.72, a P/E/G ratio of 2.13 and a beta of 0.60. The business has a 50-day moving average of $61.31 and a 200-day moving average of $64.26.

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

Commerce Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 6th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Friday, June 6th. Commerce Bancshares's dividend payout ratio is presently 26.63%.

Commerce Bancshares Profile

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.