Commerce Bancshares Inc. (NASDAQ:CBSH) Senior Vice President Patricia R. Kellerhals has recently completed a series of transactions involving the company's common stock. On July 22, Kellerhals engaged in selling a total of 110 shares at an average price of $63.793, resulting in a total sale amount of $7,017.
The transactions, disclosed in a regulatory filing with the Securities and Exchange Commission, show a mix of stock acquisitions and disposals by the executive. Notably, the sales took place at prices ranging from $63.75 to $63.793 per share. In addition to the sales, there were transactions labeled as "M" where Kellerhals acquired 612 shares at $47.5287, amounting to a total of $29,087.
Furthermore, there were also transactions under the code "F" where 45 shares were disposed of at $63.75 per share, totaling $2,868, and "D" transactions involving the disposal of 457 shares at the same price, summing up to $29,133.
Following the latest transactions, Kellerhals holds a direct ownership of 26,881 shares in Commerce Bancshares. The company, headquartered in Kansas City, Missouri, operates as a state commercial bank and is recognized under the standard industrial classification code 6022.
Investors and followers of Commerce Bancshares can view the detailed transactions in the company's SEC filings, which provide insights into the trading activities of its executives. The recent sales and purchases by Senior Vice President Kellerhals offer a glimpse into individual insider actions within the broader context of the company's stock performance.
In other recent news, Commerce Bancshares has been the subject of an updated stock price target by Keefe, Bruyette & Woods (KBW). The financial services firm raised its price target for Commerce Bancshares to $60 from the previous $58, based on the anticipated benefits of a strategic financial maneuver involving bond restructuring. The analysts at KBW have also increased their 2024 and 2025 earnings estimates for Commerce Bancshares by 3% and 4% respectively, reflecting the expected net interest income benefit from a $1 billion bond restructuring plan.
This restructuring, financed by the proceeds from the Visa (NYSE:V) Class C Exchange, is anticipated to bring a modest net gain to the company's capital. KBW analysts highlighted the transaction as low-risk and accretive, meaning it is expected to add to the earnings per share. The Market Perform rating indicates that the firm believes Commerce Bancshares' stock will perform in line with the broader market.
The strength of Commerce Bancshares' balance sheet, considered to be among the strongest within its peer group, was underscored by the analyst's commentary. The bank's strategic financial decisions, including the planned bond restructuring, are expected to enhance the company's financial position and contribute to its performance in the upcoming years. The adjusted price target reflects KBW's confidence in Commerce Bancshares' ability to manage its capital effectively and benefit from the planned financial transactions.
InvestingPro Insights
Commerce Bancshares Inc. (NASDAQ:CBSH) has recently been in the spotlight due to insider trading activity, but there are additional aspects of the company's financial health and stock performance that investors should consider. Here are some InvestingPro Insights to provide a broader context:
InvestingPro Data shows Commerce Bancshares has a market capitalization of approximately $8.2 billion, with a Price/Earnings (P/E) ratio standing at 17.24. The company's performance over the last twelve months as of Q2 2024 demonstrates a stable revenue growth of 3.65%, indicating a steady financial trajectory.
An important InvestingPro Tip to note is that Commerce Bancshares has raised its dividend for 10 consecutive years, signaling a strong commitment to returning value to shareholders. Additionally, the company has maintained dividend payments for an impressive 54 consecutive years, which is a testament to its financial resilience and consistency.
Investors interested in further insights should know that there are additional InvestingPro Tips available for Commerce Bancshares, which can be accessed by visiting https://www.investing.com/pro/CBSH. These tips provide valuable information that can help in making informed investment decisions.
For those looking to delve deeper into the financial analytics of Commerce Bancshares, consider using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription at InvestingPro. With a total of 11 additional InvestingPro Tips listed, investors can gain a comprehensive understanding of the company's financial health and stock performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.