Jane Street Group LLC Sells 59,748 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Jane Street Group LLC lowered its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 74.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,419 shares of the financial services provider's stock after selling 59,748 shares during the period. Jane Street Group LLC's holdings in Commerce Bancshares were worth $1,272,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank purchased a new stake in Commerce Bancshares during the fourth quarter valued at about $86,327,000. American Century Companies Inc. grew its position in Commerce Bancshares by 25.5% during the fourth quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider's stock valued at $228,991,000 after acquiring an additional 745,661 shares during the period. Vanguard Group Inc. grew its position in Commerce Bancshares by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock valued at $824,080,000 after acquiring an additional 642,401 shares during the period. Northern Trust Corp grew its position in Commerce Bancshares by 31.8% during the fourth quarter. Northern Trust Corp now owns 1,286,483 shares of the financial services provider's stock valued at $80,161,000 after acquiring an additional 310,443 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Commerce Bancshares by 11.1% during 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 acquiring an additional 227,052 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Buying and Selling at Commerce Bancshares

In other news, Director June Mcallister Fowler sold 1,618 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $60.72, for a total transaction of $98,244.96. Following the sale, the director now directly owns 3,175 shares in the company, valued at approximately $192,786. This represents a 33.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CBSH shares. Morgan Stanley raised Commerce Bancshares from an "underweight" rating to an "equal weight" rating and lowered their price target for the company from $66.00 to $58.00 in a research report on Monday, April 7th. Wells Fargo & Company reduced their price objective on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Wall Street Zen cut Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Piper Sandler boosted their price objective on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a research note on Thursday, April 17th. Finally, Keefe, Bruyette & Woods reduced their price objective on 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 equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of "Hold" and a consensus price target of $63.20.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH traded down $0.47 during trading on Monday, hitting $62.76. The company's stock had a trading volume of 484,581 shares, compared to its average volume of 594,419. Commerce Bancshares, Inc. has a fifty-two week low of $49.97 and a fifty-two week high of $72.75. The stock's 50-day moving average price is $61.22 and its two-hundred day moving average price is $64.34. The company has a market capitalization of $8.37 billion, a PE ratio of 15.65, a PEG ratio of 2.13 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, topping 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 business had revenue of $428.05 million for the quarter, compared to analysts' expectations of $417.85 million. On average, equities analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

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

Commerce Bancshares Company 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.