Two Sigma Securities LLC Invests $1.02 Million in Commerce Bancshares, Inc. $CBSH

Two Sigma Securities LLC acquired a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the second quarter, Holdings Channel reports. The firm acquired 17,586 shares of the financial services provider’s stock, valued at approximately $1,016,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Danske Bank A S bought a new position in Commerce Bancshares in the third quarter worth about $25,000. Geneos Wealth Management Inc. lifted its holdings in shares of Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 216 shares during the last quarter. Keating Financial Advisory Services Inc. purchased a new position in Commerce Bancshares during the 2nd quarter worth $29,000. Root Financial Partners LLC increased its position in Commerce Bancshares by 104.9% during the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock valued at $31,000 after buying an additional 319 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Commerce Bancshares in the second quarter valued at about $59,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In other news, SVP Douglas D. Neff sold 666 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $58.15, for a total transaction of $38,727.90. Following the transaction, the senior vice president owned 11,746 shares in the company, valued at $683,029.90. This trade represents a 5.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Derrick Brooks sold 1,041 shares of Commerce Bancshares stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $59.63, for a total transaction of $62,074.83. Following the completion of the sale, the senior vice president directly owned 13,117 shares in the company, valued at $782,166.71. This represents a 7.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 33,150 shares of company stock worth $1,974,783. 1.80% of the stock is currently owned by corporate insiders.

Commerce Bancshares Trading Down 0.6%

CBSH stock opened at $57.71 on Tuesday. The company’s 50-day simple moving average is $58.69 and its 200-day simple moving average is $53.99. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.01. Commerce Bancshares, Inc. has a 52-week low of $46.99 and a 52-week high of $60.92. The firm has a market cap of $8.28 billion, a P/E ratio of 13.97, a PEG ratio of 2.06 and a beta of 0.59.

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

Commerce Bancshares Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Wells Fargo & Company set a $63.00 target price on shares of Commerce Bancshares and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Morgan Stanley restated a “positive” rating and set a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a research note on Monday, June 29th. TD Cowen reaffirmed a “hold” rating and issued a $63.00 price target (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Finally, Piper Sandler reiterated a “neutral” rating and set a $66.00 price objective (up from $59.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.29.

Commerce Bancshares 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.