M&T Bank Corp Has $3.84 Million Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

M&T Bank Corp reduced its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,556 shares of the financial services provider’s stock after selling 2,200 shares during the period. M&T Bank Corp’s holdings in Commerce Bancshares were worth $3,835,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CBSH. Farther Finance Advisors LLC grew its holdings in Commerce Bancshares by 48.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 287 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in Commerce Bancshares during the 3rd quarter worth about $3,967,000. Capital Performance Advisors LLP acquired a new stake in Commerce Bancshares during the 3rd quarter worth about $39,000. Atria Investments Inc grew its holdings in Commerce Bancshares by 9.3% during the 3rd quarter. Atria Investments Inc now owns 24,455 shares of the financial services provider’s stock worth $1,453,000 after acquiring an additional 2,071 shares during the period. Finally, Los Angeles Capital Management LLC grew its holdings in Commerce Bancshares by 7,407.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock worth $21,556,000 after acquiring an additional 358,066 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, VP David L. Orf sold 1,036 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $70,696.64. Following the transaction, the vice president now owns 22,175 shares of the company’s stock, valued at $1,513,222. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles G. Kim sold 13,493 shares of Commerce Bancshares stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $67.76, for a total transaction of $914,285.68. Following the transaction, the chief financial officer now directly owns 86,246 shares in the company, valued at approximately $5,844,028.96. This represents a 13.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,516 shares of company stock worth $5,457,086. Insiders own 3.20% of the company’s stock.

Commerce Bancshares Stock Performance

CBSH stock opened at $62.22 on Friday. The company has a market capitalization of $8.33 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a 52-week low of $47.89 and a 52-week high of $72.75. The business has a 50-day simple moving average of $64.72 and a two-hundred day simple moving average of $64.58.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. As a group, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.77%. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s payout ratio is 27.43%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CBSH. Piper Sandler raised their target price on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Wells Fargo & Company raised their target price on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods raised their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Seven analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $67.83.

Commerce Bancshares 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.