Magnetar Financial LLC Takes $2.61 Million Position in Commerce Bancshares, Inc. $CBSH

Magnetar Financial LLC bought a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 43,688 shares of the financial services provider’s stock, valued at approximately $2,611,000.

A number of other institutional investors have also recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its stake in Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after buying an additional 216 shares during the period. Quent Capital LLC bought a new position in shares of Commerce Bancshares during the 3rd quarter worth approximately $31,000. CoreFirst Bank & Trust acquired a new position in shares of Commerce Bancshares during the 2nd quarter worth approximately $33,000. Rothschild Investment LLC increased its holdings in shares of Commerce Bancshares by 3,820.0% during the 3rd quarter. Rothschild Investment LLC now owns 588 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 573 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in Commerce Bancshares in the 3rd quarter valued at $48,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Trading Down 1.7%

Shares of CBSH stock opened at $47.49 on Friday. The stock has a market cap of $6.98 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 2.42 and a beta of 0.61. Commerce Bancshares, Inc. has a 1 year low of $47.38 and a 1 year high of $63.19. The stock has a 50 day simple moving average of $52.98 and a 200 day simple moving average of $53.51.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.02. The firm had revenue of $449.36 million during the quarter, compared to analysts’ expectations of $442.47 million. Commerce Bancshares had a return on equity of 15.34% and a net margin of 26.51%.The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 EPS. Analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Announces Dividend

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

Insider Transactions at Commerce Bancshares

In other news, SVP David L. Roller sold 2,092 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $53.32, for a total value of $111,545.44. Following the completion of the transaction, the senior vice president directly owned 28,933 shares in the company, valued at approximately $1,542,707.56. The trade was a 6.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Margaret M. Rowe sold 861 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $51.69, for a total transaction of $44,505.09. Following the sale, the senior vice president directly owned 5,742 shares of the company’s stock, valued at approximately $296,803.98. This trade represents a 13.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 29,477 shares of company stock worth $1,586,655. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CBSH shares. Piper Sandler set a $62.00 target price on shares of Commerce Bancshares and gave the stock a “neutral” rating in a report on Monday, January 26th. Weiss Ratings restated a “hold (c)” rating on shares of Commerce Bancshares in a report on Monday, December 29th. TD Cowen decreased their target price on Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, January 7th. Morgan Stanley lowered their target price on 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. Finally, Zacks Research raised Commerce Bancshares from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Commerce Bancshares presently has a consensus rating of “Hold” and an average target price of $61.51.

About Commerce Bancshares

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.