Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
KANSAS CITY, MO—Charles G. Kim, Executive Vice President and Chief Financial Officer of Commerce Bancshares Inc. (NASDAQ:CBSH), a $9 billion market cap regional bank with a GOOD financial health rating according to InvestingPro, executed a significant sale of company stock, according to a recent SEC filing. On February 7, Kim sold 13,493 shares of common stock, with sale prices ranging from $67.73 to $67.78, totaling approximately $914,245. Following this transaction, Kim retains ownership of 86,246 shares directly. The company, trading at a P/E ratio of 17.3x, has maintained dividend payments for 55 consecutive years and currently offers a 1.65% yield. InvestingPro analysis reveals 7 additional key insights about Commerce Bancshares’ financial outlook and valuation status.
In other recent news, Commerce Bancshares has been making notable strides in its financial operations. The company reported fourth-quarter earnings of $1.01 per share, surpassing the estimated $0.92. Revenue also exceeded predictions, reaching $422.08 million against the anticipated $416.66 million.
On top of this, the company announced a 7% increase in its quarterly dividend to $0.275 per share, continuing its 57-year streak of annual dividend growth. These are among the latest developments for Commerce Bancshares, further showcasing its financial resilience.
In terms of executive movements, the bank has revealed changes to its executive compensation structure, with new salary figures and awarded cash bonuses and restricted stock awards for its top executives. These changes are part of the regular review and adjustment of executive compensation.
Piper Sandler has also adjusted its outlook on Commerce Bancshares, raising the price target to $72 from the previous $69, while maintaining a Neutral rating. This revision reflects the bank’s strong profitability and the anticipated benefits from fewer Federal Reserve rate cuts this year.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.