Two Sigma Investments LP Has $2.52 Million Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Two Sigma Investments LP reduced its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 73.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,361 shares of the financial services provider's stock after selling 110,666 shares during the period. Two Sigma Investments LP's holdings in Commerce Bancshares were worth $2,515,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Commerce Bancshares during the fourth quarter valued at $86,327,000. American Century Companies Inc. raised its stake in shares of Commerce Bancshares by 25.5% during the 4th 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 in the last quarter. Vanguard Group Inc. raised its stake in shares of Commerce Bancshares by 5.1% during the 4th 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 in the last quarter. Aristotle Capital Management LLC lifted its holdings in shares of Commerce Bancshares by 4.3% during the 4th quarter. Aristotle Capital Management LLC now owns 8,566,476 shares of the financial services provider's stock valued at $533,777,000 after buying an additional 351,406 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Commerce Bancshares by 31.8% in the 4th quarter. Northern Trust Corp now owns 1,286,483 shares of the financial services provider's stock valued at $80,161,000 after buying an additional 310,443 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Commerce Bancshares Stock Performance

NASDAQ CBSH remained flat at $63.30 during trading on Wednesday. The company's stock had a trading volume of 417,491 shares, compared to its average volume of 592,015. 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 $8.45 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 2.13 and a beta of 0.60. The business's 50 day moving average is $61.36 and its 200 day moving average is $64.02.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS 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 business had revenue of $428.05 million for the quarter, compared to analyst estimates of $417.85 million. As a group, analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.10 dividend on an annualized basis and a yield of 1.74%. Commerce Bancshares's dividend payout ratio (DPR) is presently 26.63%.

Insiders Place Their Bets

In related news, Director June Mcallister Fowler sold 1,618 shares of Commerce Bancshares 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 directly owns 3,175 shares of the company's stock, 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 SEC, which is available through the SEC website. Insiders own 3.10% of the company's stock.

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.