Tudor Investment Corp ET AL Acquires 493,526 Shares of Commerce Bancshares, Inc. $CBSH

Tudor Investment Corp ET AL boosted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5,922.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 501,859 shares of the financial services provider’s stock after buying an additional 493,526 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.38% of Commerce Bancshares worth $29,991,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Geneos Wealth Management Inc. grew its stake in shares of Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 216 shares during the last quarter. Savant Capital LLC acquired a new stake in Commerce Bancshares in the 2nd quarter worth $250,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Commerce Bancshares by 6.9% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,196 shares of the financial services provider’s stock worth $1,939,000 after purchasing an additional 2,015 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Commerce Bancshares during the second quarter valued at about $1,948,000. Finally, Legal & General Group Plc lifted its stake in shares of Commerce Bancshares by 0.7% in the second quarter. Legal & General Group Plc now owns 251,704 shares of the financial services provider’s stock valued at $15,648,000 after buying an additional 1,648 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $47.58 on Friday. The stock has a market capitalization of $6.99 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 2.38 and a beta of 0.61. The business’s 50-day simple moving average is $52.39 and its 200-day simple moving average is $53.11. Commerce Bancshares, Inc. has a fifty-two week low of $46.99 and a fifty-two week high of $63.19.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $442.47 million. During the same period last year, the company earned $1.01 earnings per share. Commerce Bancshares’s quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders 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 dividend yield of 2.3%. The ex-dividend date is Friday, March 6th. Commerce Bancshares’s dividend payout ratio is currently 26.25%.

Analyst Ratings Changes

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

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, SVP David L. Roller sold 2,092 shares of the company’s stock in a transaction 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 transaction, the senior vice president directly owned 28,933 shares in the company, valued at $1,542,707.56. The trade was a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy S. Dunn bought 2,500 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were bought at an average price 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. The trade was a 86.12% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders sold 29,477 shares of company stock valued at $1,586,655. 3.10% of the stock is owned by insiders.

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.