Jefferies Financial Group Inc. Purchases Shares of 13,000 Commerce Bancshares, Inc. $CBSH

Jefferies Financial Group Inc. purchased a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the second quarter, Holdings Channel.com reports. The firm purchased 13,000 shares of the financial services provider’s stock, valued at approximately $751,000.

Other large investors also recently modified their holdings of the company. Danske Bank A S bought a new stake in shares of Commerce Bancshares in the 3rd quarter valued at $25,000. Keating Financial Advisory Services Inc. bought a new position in Commerce Bancshares during the second quarter worth $29,000. Geneos Wealth Management Inc. boosted its stake in Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 216 shares in the last quarter. Root Financial Partners LLC grew its holdings in Commerce Bancshares by 104.9% in the first quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 319 shares during the period. Finally, Rothschild Investment LLC increased its stake in Commerce Bancshares by 75.3% in the fourth quarter. Rothschild Investment LLC now owns 1,031 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 443 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

CBSH has been the subject of several research reports. Piper Sandler restated a “neutral” rating and issued a $66.00 target price (up from $59.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Keefe, Bruyette & Woods raised their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Stephens set a $64.00 price objective on Commerce Bancshares and gave the company an “equal weight” rating in a report on Friday, July 17th. TD Cowen reaffirmed a “hold” rating and set a $63.00 target price (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Finally, Wells Fargo & Company set a $63.00 target price on Commerce Bancshares and gave the stock an “equal weight” rating in a report on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $63.29.

Commerce Bancshares Stock Performance

NASDAQ:CBSH opened at $58.04 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a 50-day moving average of $58.64 and a 200-day moving average of $53.97. The company has a market cap of $8.32 billion, a PE ratio of 14.05, a PEG ratio of 2.06 and a beta of 0.59. Commerce Bancshares, Inc. has a one year low of $46.99 and a one year high of $60.92.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The company had revenue of $498.91 million for the quarter, compared to analyst estimates of $492.22 million. During the same quarter in the prior year, the business posted $1.14 EPS. As a group, equities research analysts expect that Commerce Bancshares, Inc. will post 4.25 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Friday, September 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 1.9%. Commerce Bancshares’s dividend payout ratio is 26.63%.

Insider Transactions at Commerce Bancshares

In other news, SVP Derrick Brooks sold 1,041 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $59.63, for a total value of $62,074.83. Following the transaction, the senior vice president owned 13,117 shares in the company, valued at $782,166.71. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David L. Orf sold 642 shares of Commerce Bancshares stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $60.35, for a total value of $38,744.70. Following the transaction, the vice president directly owned 24,962 shares in the company, valued at approximately $1,506,456.70. The trade was a 2.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 32,484 shares of company stock valued at $1,936,055. Corporate insiders own 1.80% of the company’s stock.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.