SG Americas Securities LLC Takes Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

SG Americas Securities LLC bought a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 14,944 shares of the financial services provider's stock, valued at approximately $930,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CBSH. Kapitalo Investimentos Ltda bought a new stake in shares of Commerce Bancshares during the 4th quarter valued at $26,000. CoreFirst Bank & Trust bought a new stake in shares of Commerce Bancshares during the 4th quarter valued at $33,000. Marshall Investment Management LLC bought a new stake in shares of Commerce Bancshares during the 4th quarter valued at $35,000. Nomura Asset Management Co. Ltd. raised its position in shares of Commerce Bancshares by 46.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 268 shares during the last quarter. Finally, Transce3nd LLC bought a new stake in shares of Commerce Bancshares during the 4th quarter valued at $68,000. Institutional investors own 70.26% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Morgan Stanley upped their price objective on shares of Commerce Bancshares from $58.00 to $61.00 and gave the company an "equal weight" rating in a research report on Tuesday. Piper Sandler upped their price objective on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a research report on Thursday, April 17th. Wall Street Zen cut shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods lowered their price objective on shares of 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. Finally, Wells Fargo & Company lowered their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $63.80.

Commerce Bancshares Stock Up 0.5%

CBSH stock traded up $0.31 during trading hours on Friday, reaching $60.74. 1,102,050 shares of the stock were exchanged, compared to its average volume of 605,092. The firm's 50-day moving average is $62.16 and its 200-day moving average is $63.17. The company has a market cap of $8.10 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 4.00 and a beta of 0.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.76 and a quick ratio of 0.76. Commerce Bancshares, Inc. has a 12 month low of $50.65 and a 12 month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.05. The firm had revenue of $428.05 million during the quarter, compared to analysts' expectations of $417.85 million. Commerce Bancshares had a return on equity of 16.23% and a net margin of 25.95%. On average, equities research analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

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

Insiders Place Their Bets

In other news, Director June Mcallister Fowler sold 1,618 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $60.72, for a total value of $98,244.96. Following the completion of the transaction, the director now owns 3,175 shares in the company, valued at $192,786. This trade represents a 33.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.10% of the company's stock.

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.