Jupiter Topco LLC Makes New Investment in Commerce Bancshares, Inc. $CBSH

Jupiter Topco LLC bought a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 61,742 shares of the financial services provider’s stock, valued at approximately $3,566,000.

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Commerce Bancshares in the second quarter worth about $755,669,000. Commerce Bank purchased a new position in Commerce Bancshares in the 2nd quarter worth about $316,010,000. Norges Bank bought a new stake in Commerce Bancshares during the 4th quarter valued at about $85,282,000. Champlain Investment Partners LLC purchased a new stake in Commerce Bancshares in the 4th quarter valued at about $58,830,000. Finally, Victory Capital Management Inc. boosted its position in Commerce Bancshares by 1,433.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,145,683 shares of the financial services provider’s stock valued at $59,965,000 after buying an additional 1,070,980 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CBSH has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Wells Fargo & Company set a $63.00 price target on shares of Commerce Bancshares and gave the company an “equal weight” rating in a research note on Monday, August 10th. Morgan Stanley reiterated a “positive” rating and issued a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a report on Monday, June 29th. TD Cowen reissued a “hold” rating and issued a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Finally, Raymond James Financial upgraded Commerce Bancshares to a “hold” rating in a report on Thursday, August 27th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.29.

Commerce Bancshares Stock Down 1.0%

NASDAQ:CBSH opened at $57.14 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82. Commerce Bancshares, Inc. has a 1-year low of $46.99 and a 1-year high of $60.92. The company has a 50-day moving average of $58.72 and a 200 day moving average of $54.01. The firm has a market cap of $8.20 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 2.06 and a beta of 0.58.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, beating 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 business had revenue of $498.91 million for the quarter, compared to the consensus estimate of $492.22 million. During the same quarter last year, the firm posted $1.14 EPS. As a group, research analysts anticipate that Commerce Bancshares, Inc. will post 4.23 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. Investors of record on Friday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.63%.

Insider Buying and Selling

In other news, CFO Charles G. Kim sold 19,771 shares of Commerce Bancshares stock in a transaction on Monday, July 27th. The stock was sold at an average price of $59.18, for a total value of $1,170,047.78. Following the transaction, the chief financial officer directly owned 119,410 shares in the company, valued at approximately $7,066,683.80. This trade represents a 14.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Douglas D. Neff sold 666 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $58.15, for a total value of $38,727.90. Following the sale, the senior vice president owned 11,746 shares of the company’s stock, valued at $683,029.90. This trade represents a 5.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,150 shares of company stock valued at $1,974,783 over the last ninety days. Company 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.