9,801 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Purchased by Jump Financial LLC

Jump Financial LLC purchased a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,801 shares of the financial services provider's stock, valued at approximately $611,000.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Commerce Bancshares in the 4th quarter valued at $86,327,000. American Century Companies Inc. raised its position in 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 valued at $228,991,000 after purchasing an additional 745,661 shares during the period. Vanguard Group Inc. lifted its stake in shares of 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 worth $824,080,000 after purchasing an additional 642,401 shares in the last quarter. Boston Trust Walden Corp boosted its position in shares of Commerce Bancshares by 17.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider's stock worth $91,524,000 after buying an additional 219,826 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Commerce Bancshares by 12.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,594,670 shares of the financial services provider's stock valued at $99,364,000 after buying an additional 182,423 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on CBSH. Morgan Stanley raised Commerce Bancshares from an "underweight" rating to an "equal weight" rating and reduced their price target for the stock from $66.00 to $58.00 in a research report on Monday, April 7th. StockNews.com lowered shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Thursday, April 17th. Keefe, Bruyette & Woods cut their price objective on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Piper Sandler lifted their target price on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company lowered their price objective 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. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. Based on data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of "Hold" and an average price target of $63.20.

Commerce Bancshares Stock Up 0.6 %

CBSH stock traded up $0.39 during trading on Monday, hitting $60.95. 176,465 shares of the company's stock traded hands, compared to its average volume of 588,951. The stock has a fifty day moving average price of $60.94 and a two-hundred day moving average price of $64.26. Commerce Bancshares, Inc. has a 52 week low of $49.97 and a 52 week high of $72.75. The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.05. The company had revenue of $428.05 million during the quarter, compared to the consensus estimate of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. As a group, equities research analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.80%. Commerce Bancshares's dividend payout ratio (DPR) is 26.63%.

Insider Buying and Selling

In related news, CEO John W. Kemper sold 26,042 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total value of $1,752,105.76. Following the sale, the chief executive officer now directly owns 211,929 shares in the company, valued at $14,258,583.12. This trade represents a 10.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Charles G. Kim sold 13,493 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $67.76, for a total value of $914,285.68. Following the completion of the transaction, the chief financial officer now directly owns 86,246 shares of the company's stock, valued at approximately $5,844,028.96. The trade was a 13.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,842 shares of company stock valued at $3,423,857 in the last quarter. Company insiders own 3.10% of the company's stock.

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.