Jefferies Financial Group Inc. Acquires 9,321 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Jefferies Financial Group Inc. grew its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 23.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,407 shares of the financial services provider's stock after buying an additional 9,321 shares during the period. Jefferies Financial Group Inc.'s holdings in Commerce Bancshares were worth $3,016,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CBSH. Atria Wealth Solutions Inc. boosted its stake in Commerce Bancshares by 1.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider's stock valued at $689,000 after purchasing an additional 166 shares during the period. Canopy Partners LLC boosted its stake in Commerce Bancshares by 4.9% during the 4th quarter. Canopy Partners LLC now owns 3,609 shares of the financial services provider's stock valued at $225,000 after purchasing an additional 168 shares during the period. Apriem Advisors boosted its stake in Commerce Bancshares by 5.0% during the 4th quarter. Apriem Advisors now owns 3,827 shares of the financial services provider's stock valued at $238,000 after purchasing an additional 182 shares during the period. Frank Rimerman Advisors LLC boosted its stake in Commerce Bancshares by 4.9% during the 4th quarter. Frank Rimerman Advisors LLC now owns 3,993 shares of the financial services provider's stock valued at $249,000 after purchasing an additional 186 shares during the period. Finally, Angeles Investment Advisors LLC boosted its stake in Commerce Bancshares by 5.0% during the 4th quarter. Angeles Investment Advisors LLC now owns 4,074 shares of the financial services provider's stock valued at $254,000 after purchasing an additional 194 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on CBSH shares. Keefe, Bruyette & Woods decreased their target price on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company decreased their target price on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Piper Sandler upped their price target on Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a report on Thursday, April 17th. Wall Street Zen cut Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Finally, Morgan Stanley raised Commerce Bancshares from an "underweight" rating to an "equal weight" rating and cut their price target for the company from $66.00 to $58.00 in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, Commerce Bancshares has a consensus rating of "Hold" and a consensus price target of $63.20.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the company's stock in a transaction 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 directly owns 3,175 shares in the company, valued at $192,786. This represents a 33.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 3.10% of the company's stock.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock traded down $0.24 during midday trading on Friday, hitting $63.02. 928,930 shares of the company were exchanged, compared to its average volume of 592,465. The firm has a 50 day simple moving average of $61.31 and a 200-day simple moving average of $64.15. Commerce Bancshares, Inc. has a 52 week low of $49.97 and a 52 week high of $72.75. The firm has a market cap of $8.41 billion, a P/E ratio of 15.72, a PEG ratio of 2.13 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $417.85 million. Equities research analysts expect 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. Shareholders of record on Friday, June 6th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Friday, June 6th. Commerce Bancshares's dividend payout ratio (DPR) is 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.