Tudor Investment Corp ET AL Has $29.99 Million Stock Position in Commerce Bancshares, Inc. $CBSH

Tudor Investment Corp ET AL boosted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5,922.5% in the third quarter, Holdings Channel reports. The firm owned 501,859 shares of the financial services provider’s stock after purchasing an additional 493,526 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Commerce Bancshares were worth $29,991,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Danske Bank A S acquired a new position in shares of Commerce Bancshares in the 3rd quarter valued at approximately $25,000. Geneos Wealth Management Inc. raised its position 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 valued at $29,000 after purchasing an additional 216 shares in the last quarter. Quent Capital LLC bought a new stake in Commerce Bancshares during the third quarter worth $31,000. CoreFirst Bank & Trust bought a new stake in Commerce Bancshares during the second quarter worth $33,000. Finally, Rothschild Investment LLC boosted its holdings in shares of Commerce Bancshares by 3,820.0% in the 3rd quarter. Rothschild Investment LLC now owns 588 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 573 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Timothy S. Dunn acquired 2,500 shares of Commerce Bancshares stock in a transaction dated Friday, March 13th. The shares were bought at an average cost of $47.71 per share, with a total value of $119,275.00. Following the purchase, the director owned 5,403 shares in the company, valued at $257,777.13. This trade represents a 86.12% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP David L. Roller sold 2,092 shares of Commerce Bancshares stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $53.32, for a total transaction of $111,545.44. Following the transaction, the senior vice president directly owned 28,933 shares of the company’s stock, valued at $1,542,707.56. This represents a 6.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 29,477 shares of company stock valued at $1,586,655 over the last 90 days. 3.10% of the stock is currently owned by corporate insiders.

Commerce Bancshares Stock Up 0.2%

Shares of Commerce Bancshares stock opened at $47.58 on Friday. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 2.38 and a beta of 0.61. Commerce Bancshares, Inc. has a twelve month low of $46.99 and a twelve month high of $63.19. The company’s fifty day moving average is $52.39 and its 200 day moving average is $53.11.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.02. Commerce Bancshares had a return on equity of 15.34% and a net margin of 26.51%.The business had revenue of $449.36 million during the quarter, compared to analyst estimates of $442.47 million. During the same period last year, the company earned $1.01 EPS. Commerce Bancshares’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Friday, March 6th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, March 6th. Commerce Bancshares’s payout ratio is currently 26.25%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CBSH. Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a report on Monday, December 29th. Zacks Research raised shares of Commerce Bancshares from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Morgan Stanley reduced their price target on shares of Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, March 2nd. TD Cowen decreased their price target on shares of Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, January 7th. Finally, Piper Sandler set a $62.00 price objective on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Commerce Bancshares has an average rating of “Hold” and a consensus target price of $61.51.

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.