M&T Bank Corp Sells 1,283 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

M&T Bank Corp lowered its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,322 shares of the financial services provider’s stock after selling 1,283 shares during the period. M&T Bank Corp’s holdings in Commerce Bancshares were worth $3,596,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CBSH. BKM Wealth Management LLC purchased a new stake in Commerce Bancshares in the fourth quarter worth approximately $29,000. Creative Financial Designs Inc. ADV bought a new position in shares of Commerce Bancshares during the 4th quarter valued at $35,000. Adirondack Trust Co. purchased a new position in Commerce Bancshares in the 3rd quarter worth $44,000. Exchange Traded Concepts LLC bought a new stake in Commerce Bancshares in the fourth quarter worth $55,000. Finally, Signaturefd LLC boosted its position in Commerce Bancshares by 14.4% during the fourth quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock valued at $90,000 after buying an additional 213 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Down 0.2 %

CBSH opened at $56.02 on Wednesday. The stock has a market capitalization of $7.28 billion, a price-to-earnings ratio of 15.62 and a beta of 0.76. The firm has a 50 day moving average price of $53.03 and a 200-day moving average price of $51.70. Commerce Bancshares, Inc. has a twelve month low of $40.91 and a twelve month high of $57.00.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. The firm had revenue of $397.80 million for the quarter, compared to analysts’ expectations of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. As a group, analysts expect that Commerce Bancshares, Inc. will post 3.48 earnings per share for the current year.

Commerce Bancshares Announces Dividend

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

Insider Activity at Commerce Bancshares

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CBSH shares. Morgan Stanley increased their target price on Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Piper Sandler upped their price objective on shares of Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Keefe, Bruyette & Woods increased their price target on shares of Commerce Bancshares from $56.00 to $58.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 17th. Finally, Bank of America initiated coverage on Commerce Bancshares in a report on Thursday, January 11th. They set a “neutral” rating and a $55.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $55.00.

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.