M&T Bank Corp Lowers Stock Holdings in Commerce Bancshares, Inc. $CBSH

M&T Bank Corp reduced its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 69.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,584 shares of the financial services provider’s stock after selling 23,756 shares during the quarter. M&T Bank Corp’s holdings in Commerce Bancshares were worth $554,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Profund Advisors LLC increased its holdings in Commerce Bancshares by 4.4% during the 3rd quarter. Profund Advisors LLC now owns 4,682 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 197 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Commerce Bancshares by 0.8% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 25,004 shares of the financial services provider’s stock valued at $1,494,000 after purchasing an additional 200 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of Commerce Bancshares by 2.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,265 shares of the financial services provider’s stock valued at $494,000 after purchasing an additional 215 shares in the last quarter. Elser Financial Planning Inc grew its position in shares of Commerce Bancshares by 5.0% during the 4th quarter. Elser Financial Planning Inc now owns 4,531 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 215 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 216 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Down 1.8%

Shares of CBSH stock opened at $50.98 on Tuesday. The business has a 50-day moving average price of $50.10 and a two-hundred day moving average price of $51.67. Commerce Bancshares, Inc. has a 12-month low of $46.99 and a 12-month high of $63.19. The firm has a market cap of $7.43 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.94 by $0.02. The firm had revenue of $475.69 million for the quarter, compared to analyst estimates of $481.94 million. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.The company’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.98 EPS. As a group, research analysts expect that Commerce Bancshares, Inc. will post 4.1 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 5th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, June 5th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.38%.

Insiders Place Their Bets

In other news, SVP Kim L. Jakovich sold 949 shares of Commerce Bancshares stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $51.45, for a total value of $48,826.05. Following the transaction, the senior vice president owned 12,741 shares in the company, valued at approximately $655,524.45. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Margaret M. Rowe sold 861 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $51.69, for a total value of $44,505.09. Following the completion of the sale, the senior vice president directly owned 5,742 shares of the company’s stock, valued at approximately $296,803.98. This trade represents a 13.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CBSH. Zacks Research upgraded Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Morgan Stanley decreased their target price on Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, March 2nd. Hovde Group lowered their price target on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Commerce Bancshares in a research report on Friday, March 27th. Finally, Wells Fargo & Company cut their price objective on Commerce Bancshares from $60.00 to $53.00 and set an “equal weight” rating for the company in a report on Monday, March 30th. One research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $59.16.

Commerce Bancshares Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.