Commerce Bancshares, Inc. (NASDAQ:CBSH) Stake Lessened by Versant Capital Management Inc

Versant Capital Management Inc decreased its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 41.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,005 shares of the financial services provider’s stock after selling 722 shares during the period. Versant Capital Management Inc’s holdings in Commerce Bancshares were worth $63,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in shares of Commerce Bancshares during the 3rd quarter valued at $566,000. Centiva Capital LP acquired a new position in Commerce Bancshares during the third quarter worth about $581,000. Barclays PLC raised its position in Commerce Bancshares by 19.4% in the third quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock worth $6,353,000 after acquiring an additional 17,400 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in Commerce Bancshares in the 2nd quarter valued at about $522,000. Finally, FMR LLC boosted its position in shares of Commerce Bancshares by 15.4% during the 3rd quarter. FMR LLC now owns 110,423 shares of the financial services provider’s stock valued at $6,559,000 after purchasing an additional 14,775 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CBSH has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. StockNews.com downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, December 31st. Keefe, Bruyette & Woods lifted their target price on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and an average target price of $65.07.

Commerce Bancshares Trading Up 0.7 %

Shares of Commerce Bancshares stock opened at $62.19 on Monday. Commerce Bancshares, Inc. has a 1 year low of $47.09 and a 1 year high of $72.75. The stock has a 50-day moving average price of $67.51 and a 200 day moving average price of $62.88. The company has a market cap of $7.97 billion, a P/E ratio of 16.20, a P/E/G ratio of 2.92 and a beta of 0.77.

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

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

Insider Buying and Selling

In other news, SVP David L. Roller sold 890 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $72.27, for a total transaction of $64,320.30. Following the transaction, the senior vice president now owns 30,949 shares in the company, valued at approximately $2,236,684.23. This trade represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Patricia R. Kellerhals sold 500 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $68.55, for a total transaction of $34,275.00. Following the transaction, the senior vice president now directly owns 22,265 shares in the company, valued at $1,526,265.75. The trade was a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,398 shares of company stock worth $2,504,665. Corporate insiders own 3.20% of the company’s stock.

Commerce Bancshares Company Profile

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.