Jane Street Group LLC Boosts Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Jane Street Group LLC grew its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 94.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,167 shares of the financial services provider's stock after buying an additional 38,909 shares during the quarter. Jane Street Group LLC owned approximately 0.06% of Commerce Bancshares worth $4,762,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in shares of Commerce Bancshares during the 3rd quarter valued at $26,000. Allworth Financial LP lifted its position in shares of Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 192 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Commerce Bancshares in the third quarter worth about $39,000. True Wealth Design LLC purchased a new stake in shares of Commerce Bancshares during the third quarter worth about $47,000. Finally, Farther Finance Advisors LLC raised its stake in Commerce Bancshares by 48.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 287 shares during the period. Institutional investors own 70.26% of the company's stock.

Insiders Place Their Bets

In related news, SVP Douglas D. Neff sold 888 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total transaction of $64,024.80. Following the completion of the sale, the senior vice president now directly owns 8,038 shares of the company's stock, valued at approximately $579,539.80. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total value of $1,853,400.00. Following the completion of the sale, the chairman now owns 1,151,994 shares in the company, valued at approximately $71,170,189.32. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,816 shares of company stock valued at $2,397,816 over the last three months. 3.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com upgraded Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, October 18th. Morgan Stanley lowered shares of Commerce Bancshares from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Keefe, Bruyette & Woods lifted their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Wells Fargo & Company increased their price objective on shares of Commerce Bancshares from $62.00 to $67.00 and gave the company an "equal weight" rating in a report on Tuesday, December 3rd. Finally, Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the stock a "neutral" rating in a report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Commerce Bancshares has a consensus rating of "Hold" and an average target price of $65.07.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH traded down $2.84 during mid-day trading on Wednesday, hitting $63.87. 665,096 shares of the company's stock traded hands, compared to its average volume of 553,969. Commerce Bancshares, Inc. has a 1 year low of $47.09 and a 1 year high of $72.75. The company's 50-day moving average is $67.09 and its two-hundred day moving average is $62.07. The company has a market capitalization of $8.19 billion, a P/E ratio of 16.63, a PEG ratio of 2.92 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. The company had revenue of $421.38 million for the quarter, compared to analysts' expectations of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. Equities analysts anticipate that Commerce Bancshares, Inc. will post 3.95 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were given a $0.27 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.69%. Commerce Bancshares's dividend payout ratio is presently 28.13%.

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.