This move was documented in a Form 4 filing with the Securities and Exchange Commission, providing transparency into insider trading activities within the company. The stock has shown strong momentum with a 31.8% price return over the past six months, while maintaining a 54-year streak of consistent dividend payments. InvestingPro subscribers can access 7 additional key insights about Commerce Bancshares (NASDAQ:CBSH)' financial health and growth prospects. The stock has shown strong momentum with a 31.8% price return over the past six months, while maintaining a 54-year streak of consistent dividend payments. InvestingPro subscribers can access 7 additional key insights about Commerce Bancshares' financial health and growth prospects. This move was documented in a Form 4 filing with the Securities and Exchange Commission, providing transparency into insider trading activities within the company.
In other recent news, Commerce Bancshares has seen several significant developments. The company has reported a strong performance in the third quarter, surpassing both earnings and revenue estimates. Earnings of $1.07 per share were noted, an increase from the $0.92 per share reported in the same quarter the previous year. Revenue for the quarter was $421.4 million, marking an improvement from the $391.5 million reported in the third quarter of the prior year.
Additionally, Commerce Bancshares announced amendments to its bylaws, updating provisions related to the scheduling and format of stockholder meetings. These changes provide flexibility in meeting formats, accommodating remote communication. 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.
Despite the challenges it may face in the current market conditions, these recent developments highlight the company's robust profitability and revenue diversity. Piper Sandler has updated its fourth-quarter 2024 earnings per share estimate for the bank to $1.03, reflecting higher core fee income expectations.
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