Jane Street Group LLC Has $1.27 Million Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Jane Street Group LLC cut its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 74.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,419 shares of the financial services provider's stock after selling 59,748 shares during the quarter. Jane Street Group LLC's holdings in Commerce Bancshares were worth $1,272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Commerce Bancshares by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock worth $824,080,000 after purchasing an additional 642,401 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Commerce Bancshares by 25.5% in the fourth quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider's stock worth $228,991,000 after purchasing an additional 745,661 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Commerce Bancshares by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 2,484,463 shares of the financial services provider's stock valued at $155,756,000 after purchasing an additional 87,723 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Commerce Bancshares by 11.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,272,118 shares of the financial services provider's stock valued at $141,584,000 after purchasing an additional 227,052 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Commerce Bancshares by 1.8% in the fourth quarter. Wells Fargo & Company MN now owns 2,175,133 shares of the financial services provider's stock valued at $135,533,000 after purchasing an additional 38,210 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director June Mcallister Fowler sold 1,618 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $60.72, for a total transaction of $98,244.96. Following the completion of the transaction, the director now directly owns 3,175 shares in the company, valued at $192,786. The trade was a 33.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is owned by company insiders.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $64.99 on Wednesday. The business has a fifty day simple moving average of $61.12 and a two-hundred day simple moving average of $64.46. Commerce Bancshares, Inc. has a 1 year low of $49.97 and a 1 year high of $72.75. The company has a market capitalization of $8.67 billion, a P/E ratio of 16.21, a P/E/G ratio of 2.13 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. The firm had revenue of $428.05 million during 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%. As a group, analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Friday, June 6th. Commerce Bancshares's dividend payout ratio (DPR) is presently 26.63%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CBSH. Morgan Stanley upgraded shares of Commerce Bancshares from an "underweight" rating to an "equal weight" rating and lowered their target price for the company from $66.00 to $58.00 in a report on Monday, April 7th. Keefe, Bruyette & Woods decreased their price target on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company decreased their price target on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Piper Sandler raised their price objective on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $63.20.

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.

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