Versant Capital Management Inc Has $63,000 Stock Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Versant Capital Management Inc cut its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 41.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,005 shares of the financial services provider’s stock after selling 722 shares during the quarter. Versant Capital Management Inc’s holdings in Commerce Bancshares were worth $63,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CBSH. First Financial Bank Trust Division bought a new position in Commerce Bancshares during the fourth quarter worth $209,000. Franklin Resources Inc. bought a new position in shares of Commerce Bancshares during the 3rd quarter worth about $2,861,000. Tidal Investments LLC raised its position in shares of Commerce Bancshares by 13.5% during the third quarter. Tidal Investments LLC now owns 39,040 shares of the financial services provider’s stock valued at $2,319,000 after buying an additional 4,654 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Commerce Bancshares in the third quarter valued at about $475,000. Finally, Sanctuary Advisors LLC grew its position in Commerce Bancshares by 35.5% during the third quarter. Sanctuary Advisors LLC now owns 42,924 shares of the financial services provider’s stock worth $2,550,000 after buying an additional 11,247 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH opened at $62.19 on Monday. Commerce Bancshares, Inc. has a 52-week low of $47.09 and a 52-week high of $72.75. The business has a fifty day moving average of $67.51 and a two-hundred day moving average of $62.88. The stock has a market cap of $7.97 billion, a PE ratio of 16.20, a PEG ratio of 2.92 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.07. The firm had revenue of $421.38 million during the quarter, compared to the consensus estimate of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. Analysts predict that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Tuesday, December 3rd. Commerce Bancshares’s payout ratio is currently 28.13%.

Analysts Set New Price Targets

A number of brokerages have commented on CBSH. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Wells Fargo & Company boosted their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, StockNews.com cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, December 31st. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $65.07.

About Commerce Bancshares

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.