Forum Financial Management LP Makes New $283,000 Investment in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Forum Financial Management LP bought a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 4,539 shares of the financial services provider's stock, valued at approximately $283,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CBSH. Kapitalo Investimentos Ltda bought a new stake in Commerce Bancshares in the fourth quarter valued at approximately $26,000. CoreFirst Bank & Trust bought a new position in shares of Commerce Bancshares in the fourth quarter valued at about $33,000. Marshall Investment Management LLC bought a new position in Commerce Bancshares during the fourth quarter worth about $35,000. V Square Quantitative Management LLC increased its position in Commerce Bancshares by 84.0% during the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider's stock worth $49,000 after acquiring an additional 361 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Commerce Bancshares by 46.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock worth $52,000 after acquiring an additional 268 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Price Performance

Shares of CBSH traded down $0.24 on Friday, reaching $63.02. The company's stock had a trading volume of 928,930 shares, compared to its average volume of 597,925. Commerce Bancshares, Inc. has a 12-month low of $49.97 and a 12-month high of $72.75. The stock has a market capitalization of $8.41 billion, a P/E ratio of 15.72, a PEG ratio of 2.13 and a beta of 0.60. The stock's 50 day simple moving average is $61.31 and its two-hundred day simple moving average is $64.26.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.05. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $428.05 million for the quarter, compared to analysts' expectations of $417.85 million. Analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Friday, June 6th will be issued a $0.275 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.10 dividend on an annualized basis and a yield of 1.75%. Commerce Bancshares's payout ratio is currently 26.63%.

Wall Street Analyst Weigh In

CBSH has been the topic of a number of research analyst reports. Piper Sandler raised their price target on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods lowered their price objective on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company decreased their price target on shares of Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley raised shares of Commerce Bancshares from an "underweight" rating to an "equal weight" rating and cut their price objective for the stock from $66.00 to $58.00 in a report on Monday, April 7th. Finally, Wall Street Zen downgraded shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $63.20.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $60.72, for a total value of $98,244.96. Following the completion of the sale, the director now owns 3,175 shares in the company, valued at approximately $192,786. The trade was a 33.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.10% 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.