Commerce: Q3 Earnings Snapshot

Barchart · 10/17 05:06

KANSAS CITY, Mo. (AP) — KANSAS CITY, Mo. (AP) — Commerce Bancshares Inc. (CBSH) on Thursday reported third-quarter net income of $138 million.

The Kansas City, Missouri-based bank said it had earnings of $1.07 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1 per share.

The bank holding company posted revenue of $531.1 million in the period. Its revenue net of interest expense was $421.4 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $412.8 million.

Commerce shares have risen 15% since the beginning of the year. The stock has climbed 34% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBSH at https://www.zacks.com/ap/CBSH