Stryker shares tumble despite strong Q2 results and raised guidance
David W. Kemper (NYSE:KMPR), Executive Chairman of Commerce Bancshares Inc. (NASDAQ:CBSH), a $9 billion market cap bank with a "GOOD" InvestingPro Financial Health score, recently sold shares of the company’s stock, according to a recent SEC filing. On February 3, Kemper sold 3,708 shares at an average price of $66.16, amounting to a total transaction value of approximately $245,321. Following this transaction, Kemper holds 1,208,311 shares directly. According to InvestingPro, the stock appears undervalued based on its Fair Value analysis, with the company maintaining dividend payments for 55 consecutive years.
Earlier, on January 31, Kemper disposed of 1,327 shares at $66.80 per share, in a transaction related to tax obligations. This transaction was valued at $88,643. After these transactions, Kemper maintains a significant stake in the company, underscoring his continued involvement with Commerce Bancshares. For deeper insights into insider transactions and access to 12+ exclusive InvestingPro Tips for CBSH, including analyst revisions and profitability metrics, consider upgrading to InvestingPro.
In other recent news, Commerce Bancshares showcased robust financial performance by surpassing Q4 expectations with earnings of $1.01 per share and revenue of $422.08 million. The bank’s net interest income rose to $266.6 million, while non-interest income amounted to $155.4 million. This financial performance was underscored by a strong credit quality, with non-accrual loans at 0.11% of total loans.
Commerce Bancshares also announced a 7% increase in its quarterly dividend to $0.275 per share, continuing its 57-year streak of annual dividend growth. This decision reflects the bank’s financial resilience and commitment to its shareholders.
In terms of executive compensation, Commerce Bancshares disclosed recent changes to its structure, with the President and CEO, John W. Kemper, set to receive a base salary of $1,050,000, a cash bonus of $1,964,441, and 43,931 restricted stock awards. These changes are part of the company’s ongoing efforts to maintain competitive compensation practices for its senior leadership team.
On the analyst front, Piper Sandler updated its outlook on Commerce Bancshares, raising the price target to $72 while maintaining a Neutral rating. The firm increased its EPS estimates for the bank for 2025 and 2026 by 5% and 4%, respectively, reflecting an improved forecast for the bank’s net interest income and operating expenses. These recent developments highlight the bank’s continued strong profitability and financial stability.
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