Commerce Bancshares beats Q1 profit estimates

Commerce Bancshares

21/04/2026 11:11

Overview

US regional bank's Q1 rev grew but slightly missed analysts' expectations

Net income and EPS beat analysts' estimates

Company repurchased $84 mln of common stock during Q1

Outlook

Commerce says it is well positioned to navigate an uncertain economic environment, but did not provide specific guidance

Result Drivers

FINEMARK ACQUISITION - Q1 results were driven by the acquisition of FineMark, which added $2.7 bln in loans, $3.1 bln in deposits, and boosted trust fee and non-interest income growth

HIGHER NON-INTEREST EXPENSES - Non-interest expenses rose, mainly due to $14 mln in acquisition-related costs and onboarding of FineMark staff

INCREASED NET CHARGE-OFFS - Net loan charge-offs rose to $15 mln, mainly due to a charge-off on a senior living non-accrual loan

Company press release: ID:nBw6MQ9QPa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Miss*
$475.69 mln
$479.94 mln (5 Analysts)
Q1 EPS
Beat
$0.96
$0.88 (7 Analysts)
Q1 Net Income
Beat
$141.62 mln
$124.60 mln (7 Analysts)
Q1 Net Interest Income
$299.84 mln
Q1 Credit Loss Provision
$10.96 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for Commerce Bancshares Inc is $58.00, about 12.8% above its April 20 closing price of $51.40

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)