Commerce Bancshares executive sells more than $124,000 in the company’s stock by Investing.com

Commerce Bancshares Inc. (NASDAQ: ) Senior Vice President Patricia R. Kellerhals sold 2,000 shares of the company’s common stock, according to a recent filing with the SEC. The transaction, which took place on September 16, 2024, was executed at an average price of $62.228 per share, resulting in a total value of $124,456.

The sale adjusted Kellerhals’ direct holdings in the company to a total of 23,381 shares of Commerce Bancshares Inc. Details of the transaction were made public in a Form 4 filed with the Securities and Exchange Commission on September 17, 2024.

Investors often look to insider buying and selling as a potential indicator of a company’s future performance. In that case, the sale by a senior executive could be of interest to current and potential shareholders of Commerce Bancshares Inc., a Missouri financial institution known for its in-state commercial banking operations.

Commerce Bancshares Inc. has not released any official statement on this transaction and it remains one of many routine filings that occur within publicly traded companies. Shareholders and potential investors are encouraged to consider the context of the sale within the broader framework of the company’s performance and market activities.

For those monitoring insider trading, it’s worth noting that the details reported in SEC filings provide a snapshot of executive stock trades, which can vary widely in nature and motivation. As always, individual investment decisions should be made based on comprehensive analysis and due diligence.

In other recent news, Commerce Bancshares Inc. reported a significant increase in earnings and revenue for the second quarter of 2024, beating analysts’ expectations. The company reported $1.07 earnings per share, beating analysts’ estimate of $0.94, and reported strong revenue of $414.49 million, beating the consensus estimate of $403.85 million. This is an improvement from the $0.97 per share reported in the same quarter last year and a substantial increase from the $0.86 per share reported in the first quarter of 2024.

Net income for the second quarter reached $139.6 million, up from $127.8 million in the second quarter of 2023. The robust quarterly performance was attributed to an increasing net interest margin, solid fee income and expenses well controlled. The bank’s net interest margin rose 22 basis points in the quarter, with trust and deposit account fee increases of 10.6% and 11.9%, respectively, compared to the same period last year.

These recent developments indicate that Commerce Bancshares has maintained strong levels of capital and liquidity with excellent credit quality in its loan portfolio. The bank also made a significant investment in the community by contributing $5.0 million to the Commerce Bancshares Foundation during the quarter. Average loan balances increased modestly by 0.6% from the previous quarter to total $17.2 billion, while available-for-sale debt securities decreased by $695.1 million from the previous quarter to $8.8 billion at fair value.

InvestingPro Insights

Commerce Bancshares Inc. (NASDAQ:CBSH) has recently been highlighted for its robust shareholder returns, a significant factor for investors looking for income-generating stocks. According to InvestingPro Tips, the company has not only maintained its dividend payments for 54 consecutive years, but has also increased its dividend for the past 10 consecutive years, demonstrating a strong commitment to returning value to its shareholders.

In terms of performance, Commerce Bancshares has shown strong returns, especially in the past three months, with a total price return of 16.98%. This is complemented by a year-to-date total price return of 18.24%, indicating a solid upward trend in the stock’s performance.

InvestingPro Data figures reveal a market cap of $8.04 billion with a P/E ratio of 16.91, which adjusts slightly to 16.6 for the trailing twelve months from Q2 2024. Additionally, the company posted a constant revenue growth of 3.65% over the same period.

For potential investors and current shareholders looking to dig deeper into the financial health and future prospects of Commerce Bancshares, additional InvestingPro advice can be found at https://www.investing.com/pro/CBSH, which includes information on analyst earnings revisions. and profitability forecasts for the year. Given that 7 analysts have revised their earnings upward for the next period and a profitability prediction for the year, these factors may provide more confidence in the company’s financial trajectory.

This article was generated with support from AI and reviewed by an editor. For more information, see T&C.