TRST vs NBTB vs CBSH

For growth investors, NBT Bancorp Inc.

(NBTB) is the stronger pick with 10. 4% revenue growth year-over-year, versus 2. 2% for Commerce Bancshares, Inc. (CBSH). Commerce Bancshares, Inc. (CBSH) offers the better valuation at 12. 9x trailing P/E (13. 0x forward), making it the more compelling value choice. Analysts rate TrustCo Bank Corp NY (TRST) a "Hold" — based on 3 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, Commerce Bancshares, Inc.

(CBSH) is the cheapest at 12. 9x versus TrustCo Bank Corp NY at 14. 9x. On forward P/E, NBT Bancorp Inc. is actually cheaper at 10. 8x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Commerce Bancshares, Inc. wins at 1. 15x versus TrustCo Bank Corp NY's 4. 66x — a reasonable growth-adjusted valuation.

Over the past 5 years, TrustCo Bank Corp NY (TRST) delivered a total return of +46.

5%, compared to -12. 9% for Commerce Bancshares, Inc. (CBSH). Over 10 years, the gap is even starker: CBSH returned +103. 4% versus TRST's +97. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Commerce Bancshares, Inc.

(CBSH) is the lower-risk stock at 0. 70β versus NBT Bancorp Inc. 's 0. 89β — meaning NBTB is approximately 26% more volatile than CBSH relative to the S&P 500. On balance sheet safety, NBT Bancorp Inc. (NBTB) carries a lower debt/equity ratio of 17% versus 79% for Commerce Bancshares, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), NBT Bancorp Inc.

(NBTB) is pulling ahead at 10. 4% versus 2. 2% for Commerce Bancshares, Inc. (CBSH). On earnings-per-share growth, the picture is similar: TrustCo Bank Corp NY grew EPS 26. 5% year-over-year, compared to 5. 4% for Commerce Bancshares, Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Commerce Bancshares, Inc.

(CBSH) is the more profitable company, earning 26. 5% net margin versus 19. 5% for NBT Bancorp Inc. — meaning it keeps 26. 5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CBSH leads at 34. 2% versus 25. 3% for NBTB. At the gross margin level — before operating expenses — CBSH leads at 80. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, Commerce Bancshares, Inc. (CBSH) is the more undervalued stock at a PEG of 1. 15x versus TrustCo Bank Corp NY's 4. 66x. A PEG below 1. 5 suggests fair-to-attractive pricing relative to expected growth. On forward earnings alone, NBT Bancorp Inc. (NBTB) trades at 10. 8x forward P/E versus 16. 9x for TrustCo Bank Corp NY — 6. 1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for CBSH: 11. 5% to $58. 50.

All stocks in this comparison pay dividends.

NBT Bancorp Inc. (NBTB) offers the highest yield at 3. 2%, versus 2. 1% for Commerce Bancshares, Inc. (CBSH).

For long-horizon retirement investors, Commerce Bancshares, Inc.

(CBSH) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 70), 2. 1% yield, +103. 4% 10Y return). Both have compounded well over 10 years (CBSH: +103. 4%, NBTB: +102. 2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.