Patricia R. Kellerhals, Senior Vice President of Commerce Bancshares Inc. (NASDAQ:CBSH), recently sold 1,000 shares of the company's common stock. The sale, executed on November 7, 2024, was completed at an average price of $69.204 per share, amounting to a total transaction value of $69,204. Following this sale, Kellerhals holds 22,381 shares of the company.
In other recent news, Commerce Bancshares has reported a strong performance in the third quarter, surpassing both earnings and revenue estimates. The company reported earnings of $1.07 per share, a notable increase from the $0.92 per share reported in the same quarter last year. Revenue for the quarter was $421.4 million, marking an increase from the $391.5 million reported in the third quarter of the previous year.
Furthermore, Commerce Bancshares has announced amendments to its bylaws, updating provisions related to the scheduling and format of stockholder meetings. The changes include the option for virtual or hybrid annual and special meetings.
In a recent analysis, Piper Sandler maintained a neutral stance on Commerce Bancshares, expressing skepticism regarding the bank's potential for earnings per share growth in the coming year. The firm anticipates challenges due to potential net interest margin compression. Lastly, the company experienced a year-over-year growth in non-interest income, which rose 11.2% to $159.0 million. These are the recent developments at Commerce Bancshares.
InvestingPro Insights
As Patricia R. Kellerhals reduces her stake in Commerce Bancshares Inc. (NASDAQ:CBSH), investors may find additional context in recent market data and analyst insights. According to InvestingPro, CBSH has demonstrated strong performance, with a remarkable 70.05% price total return over the past year. This aligns with the stock's current trading near its 52-week high, as indicated by one of the InvestingPro Tips.
The company's financial health appears robust, with a market capitalization of $9.26 billion and a P/E ratio of 18.84. CBSH has maintained a consistent dividend policy, which may be attractive to income-focused investors. An InvestingPro Tip highlights that the company has raised its dividend for 11 consecutive years, underscoring its commitment to shareholder returns.
While the recent insider sale might raise questions, it's worth noting that CBSH's revenue growth stands at 4.99% for the last twelve months, with a more impressive 8.32% growth in the most recent quarter. The company's operating income margin of 42.83% suggests efficient operations, which could be a positive sign for potential investors.
For those seeking a deeper understanding of CBSH's valuation and growth prospects, InvestingPro offers 14 additional tips, providing a comprehensive analysis to inform investment decisions.
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