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

Commerce Bancshares

16/04/2024 13:27

* Commerce Bancshares Inc  CBSH.OQ  reported quarterly
adjusted
earnings of 86 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of 90 cents.  The mean expectation of eight analysts for the
quarter was for earnings of 81 cents per share. Wall Street
expected results to range from 75 cents to 85 cents per share.
    * Revenue rose 2.2% to $397.85 million from a year ago;
analysts
expected $389.49 million. 
    * Commerce Bancshares Inc's reported EPS for the quarter was
86
cents​.
    * The company reported quarterly net income of $112.66
million.
    * Commerce Bancshares Inc shares had fallen by 3.7% this
quarter and lost 4.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 5.3%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 8
"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 $55.00 
This summary was machine generated from LSEG data April 16 at
12:27 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
 Mar. 31 2024      0.81           0.86           Beat
 Dec. 31 2023      0.85           0.97           Beat
 Sep. 30 2023      0.89           0.91           Beat
 Jun. 30 2023      0.90           0.97           Beat