Commerce Bancshares, Inc. (CBSH) Position Raised by M&T Bank Corp

M&T Bank Corp boosted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,179 shares of the financial services provider’s stock after purchasing an additional 62 shares during the quarter. M&T Bank Corp’s holdings in Commerce Bancshares were worth $351,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado grew its holdings in Commerce Bancshares by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 12,520 shares of the financial services provider’s stock valued at $712,000 after purchasing an additional 42 shares during the period. Teacher Retirement System of Texas grew its stake in Commerce Bancshares by 1.4% during the second quarter. Teacher Retirement System of Texas now owns 7,354 shares of the financial services provider’s stock worth $418,000 after buying an additional 103 shares during the period. World Asset Management Inc grew its stake in Commerce Bancshares by 2.8% during the second quarter. World Asset Management Inc now owns 5,568 shares of the financial services provider’s stock worth $316,000 after buying an additional 150 shares during the period. Mosaic Family Wealth LLC grew its stake in Commerce Bancshares by 5.8% during the second quarter. Mosaic Family Wealth LLC now owns 3,297 shares of the financial services provider’s stock worth $187,000 after buying an additional 181 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Commerce Bancshares by 5.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,229 shares of the financial services provider’s stock worth $240,000 after buying an additional 237 shares during the period. Hedge funds and other institutional investors own 62.20% of the company’s stock.

Several research firms have issued reports on CBSH. Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Friday, October 6th. UBS AG downgraded shares of Commerce Bancshares to an “underperform” rating in a research note on Thursday, August 10th. Jefferies Group LLC reiterated a “hold” rating and set a $61.00 price objective on shares of Commerce Bancshares in a research note on Friday, August 11th. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Commerce Bancshares in a research note on Thursday, August 10th. Finally, Piper Jaffray Companies reiterated a “neutral” rating and set a $60.00 price objective on shares of Commerce Bancshares in a research note on Friday, October 6th. Five equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $56.63.

In other Commerce Bancshares news, Chairman David W. Kemper sold 10,132 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $57.83, for a total transaction of $585,933.56. Following the transaction, the chairman now owns 1,270,757 shares in the company, valued at $73,487,877.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John R. Capps sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $54.82, for a total value of $548,200.00. Following the transaction, the director now owns 12,828 shares in the company, valued at approximately $703,230.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,819 shares of company stock worth $1,174,728. Corporate insiders own 4.30% of the company’s stock.

Shares of Commerce Bancshares, Inc. (CBSH) opened at 58.44 on Wednesday. The firm’s 50-day moving average is $55.81 and its 200 day moving average is $55.94. The stock has a market capitalization of $5.94 billion, a P/E ratio of 21.17 and a beta of 0.83. Commerce Bancshares, Inc. has a 1-year low of $47.64 and a 1-year high of $60.61.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, July 13th. The financial services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.70 by $0.05. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The company had revenue of $305.89 million for the quarter, compared to the consensus estimate of $309.44 million. During the same quarter last year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts expect that Commerce Bancshares, Inc. will post $2.94 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 25th. Shareholders of record on Friday, September 8th were issued a dividend of $0.225 per share. The ex-dividend date was Thursday, September 7th. This represents a $0.90 annualized dividend and a yield of 1.54%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 32.64%.

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About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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