Jane Street Group LLC Has $4.76 Million Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Jane Street Group LLC increased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 94.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 80,167 shares of the financial services provider’s stock after purchasing an additional 38,909 shares during the period. Jane Street Group LLC owned about 0.06% of Commerce Bancshares worth $4,762,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Commerce Bancshares in the third quarter worth $26,000. Allworth Financial LP boosted its position in Commerce Bancshares by 51.1% during the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 192 shares during the period. Capital Performance Advisors LLP purchased a new position in Commerce Bancshares during the 3rd quarter valued at about $39,000. True Wealth Design LLC acquired a new position in shares of Commerce Bancshares in the 3rd quarter valued at about $47,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Commerce Bancshares by 48.2% in the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 287 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman David W. Kemper sold 30,000 shares of Commerce Bancshares stock in a transaction dated 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 transaction, the chairman now directly owns 1,151,994 shares in the company, valued at approximately $71,170,189.32. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Patricia R. Kellerhals sold 500 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $68.55, for a total value of $34,275.00. Following the transaction, the senior vice president now directly owns 22,265 shares of the company’s stock, valued at $1,526,265.75. This represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,816 shares of company stock worth $2,330,126 in the last quarter. 3.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Commerce Bancshares Stock Performance

CBSH opened at $66.71 on Wednesday. The company has a market cap of $8.55 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 2.92 and a beta of 0.77. The stock has a 50-day moving average of $66.98 and a 200-day moving average of $62.05. Commerce Bancshares, Inc. has a 52-week low of $47.09 and a 52-week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The firm had revenue of $421.38 million during the quarter, compared to analysts’ expectations of $412.85 million. On average, research analysts predict that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were paid a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.62%. Commerce Bancshares’s 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.