Commerce Bancshares Inc reports results for the quarter ended in January - Earnings Summary

Commerce Bancshares

18/07/2024 13:04

* Commerce Bancshares Inc  CBSH.OQ  reported quarterly
adjusted
earnings of $1.07​​ per share for the quarter ended in January,
higher than the same quarter last year, when the company
reported EPS of 97 cents.  The mean expectation of
eight analysts for the quarter was for earnings of 90 cents per
share. Wall Street expected results to range from 84 cents
to $1.00 per share.
    * Revenue rose 4.4% to $414.50 million from a year ago;
analysts
expected $406.86 million. 
    * Commerce Bancshares Inc's reported EPS for the quarter was
$1.07​.
    * The company reported quarterly net income of $139.55
million.
    * Commerce Bancshares Inc shares had risen by 10.6% this
quarter and gained 15.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 4.4%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * 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
also "hold"

Wall Street's median 12-month price target for Commerce
Bancshares Inc is $59.50 
This summary was machine generated from LSEG data July 18 at
12:04 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.90           1.07           Beat
 Mar. 31 2024      0.81           0.86           Beat
 Dec. 31 2023      0.85           0.97           Beat
 Sep. 30 2023      0.89           0.91           Beat