M&T Bank Corp Has $3.60 Million Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

M&T Bank Corp lowered its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,322 shares of the financial services provider’s stock after selling 1,283 shares during the period. M&T Bank Corp owned 0.05% of Commerce Bancshares worth $3,596,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CBSH. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Commerce Bancshares by 19.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,728 shares of the financial services provider’s stock valued at $1,138,000 after purchasing an additional 3,937 shares during the last quarter. FORVIS Wealth Advisors LLC lifted its stake in shares of Commerce Bancshares by 5.5% in the 3rd quarter. FORVIS Wealth Advisors LLC now owns 12,416 shares of the financial services provider’s stock valued at $596,000 after purchasing an additional 650 shares during the period. Advisor Partners II LLC acquired a new stake in shares of Commerce Bancshares during the third quarter worth $201,000. TIAA Trust National Association bought a new position in Commerce Bancshares during the third quarter worth about $230,000. Finally, Financial Advocates Investment Management acquired a new position in shares of Commerce Bancshares during the 3rd quarter worth about $364,000. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Down 0.2 %

NASDAQ CBSH opened at $56.02 on Wednesday. Commerce Bancshares, Inc. has a 12-month low of $40.91 and a 12-month high of $57.00. The firm’s 50 day moving average is $53.03 and its 200-day moving average is $51.70. The company has a market capitalization of $7.28 billion, a PE ratio of 15.62 and a beta of 0.76.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $397.80 million during the quarter, compared to the consensus estimate of $389.49 million. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 EPS. As a group, sell-side analysts expect that Commerce Bancshares, Inc. will post 3.48 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Wednesday, June 5th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Wednesday, June 5th. Commerce Bancshares’s dividend payout ratio is currently 30.12%.

Insider Buying and Selling at Commerce Bancshares

In other news, SVP Douglas D. Neff sold 614 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $50.25, for a total value of $30,853.50. Following the sale, the senior vice president now directly owns 8,038 shares of the company’s stock, valued at approximately $403,909.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Douglas D. Neff sold 614 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $50.25, for a total transaction of $30,853.50. Following the completion of the sale, the senior vice president now owns 8,038 shares in the company, valued at approximately $403,909.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert S. Holmes sold 5,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $52.66, for a total transaction of $263,300.00. Following the completion of the transaction, the executive vice president now owns 50,293 shares in the company, valued at approximately $2,648,429.38. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Morgan Stanley raised their price objective on Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Piper Sandler boosted their target price on Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Raymond James raised Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price target on the stock in a research report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods boosted their price objective on Commerce Bancshares from $56.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, April 17th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $55.00.

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.