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David L. Orf, Executive Vice President and Chief Credit Officer at Commerce Bancshares Inc. (NASDAQ:CBSH), recently sold 1,036 shares of the company’s common stock. The shares were sold at an average price of $68.237 each, totaling approximately $70,693. Following this transaction, Orf holds 22,175 shares directly and 21,533 shares indirectly through a 401(K) account. The company, which has maintained dividend payments for 55 consecutive years and shows a "GOOD" overall financial health score according to InvestingPro, has seen its stock rise over 45% in the past year. Commerce Bancshares, headquartered in Kansas City, Missouri, is a state commercial bank operating in the finance sector with a market capitalization of $9.2 billion. InvestingPro analysis suggests the stock is currently undervalued, with 6 analysts recently revising their earnings estimates upward for the upcoming period. Get access to 8 more exclusive InvestingPro Tips for CBSH and detailed valuation metrics with a subscription.
In other recent news, Commerce Bancshares, a state commercial bank, announced significant developments. The company’s Q4 earnings surpassed analyst expectations, with a reported revenue of $422.08 million and earnings of $1.01 per share. In a move that signals the company’s financial resilience, Commerce Bancshares also announced a 7% increase in its quarterly dividend to $0.275 per share, extending its 57-year streak of annual dividend growth.
Furthermore, the bank disclosed changes to its executive compensation structure. CEO John W. Kemper (NYSE:KMPR) will receive a base salary of $1,050,000, a cash bonus of $1,964,441, and 43,931 restricted stock awards. Other top executives will also see changes in their compensation, reflecting the company’s efforts to maintain competitive practices for its senior leadership.
In addition, Piper Sandler raised its price target for Commerce Bancshares to $72, while maintaining a neutral rating. The firm’s outlook adjustment is based on the bank’s strong profitability, particularly due to anticipated benefits from fewer Federal Reserve rate cuts. These recent developments represent the ongoing efforts of Commerce Bancshares to enhance shareholder value and maintain financial stability.
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