For the quarter ended March 2024, Commerce Bancshares (CBSH) reported revenue of $397.85 million, up 2.2% over the same period last year. EPS came in at $0.86, compared to $0.90 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $385.9 million, representing a surprise of +3.10%. The company delivered an EPS surprise of +7.50%, with the consensus EPS estimate being $0.80.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

Earnings Performance - First quarter earnings per share were $0.86, an increase from $0.84 in the previous quarter[12] - Net income attributable to Commerce Bancshares, Inc. was $112.7 million, compared to $109.2 million in the previous quarter[12] - Net income for Q1 2024 was $112.7 million, compared to $119.5 million in Q1 2023 and $109.2 million in Q4 2023[17] - For the quarter ended March 31, 2024, net income was $112.7 million, an increase from $109.2 million in the previous quarter but a decrease from $119.5 million in the same quarter last year[64] Revenue and Income Sources - Total revenue for Q1 2024 was $397.8 million, up from $389.2 million in Q1 2023[26] - Non-interest income totaled $148.8 million, up $11.2 million or 8.1% compared to the same quarter last year[4] - Non-interest income accounted for 37.4% of total revenue, with trust fees growing by $5.8 million or 12.7% year-over-year[18][20] - Non-interest income included a 12.7% increase in trust fees, totaling an increase of $5.8 million over the same period last year[42] Expenses and Efficiency - Total non-interest expense was $245.7 million, an increase of $21.6 million compared to the same quarter last year[5] - Non-interest expense for Q1 2024 was $245.7 million, compared to $224.1 million in Q1 2023[26] - The efficiency ratio improved to 61.67%, down from 63.80% in the previous quarter[12] - The efficiency ratio improved to 61.67% from 57.49% in the same quarter last year[26] Asset and Deposit Trends - Total average deposits decreased by $759.5 million, or 3.0%, compared to the prior quarter[7] - Total assets as of March 31, 2024, were $30.4 billion, a decrease of $1.3 billion or 4.2% from the prior quarter[8] - Total deposits fell to $24,449,970 thousand, down from $25,248,972 thousand a year ago, indicating a decrease of 3.2%[58] - Total average deposits decreased by $759.5 million this quarter compared to the previous quarter, primarily due to lower average demand deposits of $420.1 million and lower average certificates of deposit of $364.2 million[81] Loan Performance - Average loan balances remained flat at $17.1 billion compared to the prior quarter[21] - Total loans increased to $17,080,067 thousand, up from $16,403,876 thousand a year ago, representing a growth of 4.1%[58] - Net loans reached $16,918,176 thousand, compared to $16,253,759 thousand in the same quarter last year, reflecting a year-over-year increase of 4.1%[58] - The annualized net loan charge-offs on average consumer credit card loans were 4.60%, compared to 3.72% in the previous quarter[45] Interest Income and Yield - Net interest income after credit losses was $244.2 million, an increase from $242.5 million in the previous quarter[12] - Net interest income for Q1 2024 amounted to $249.0 million, an increase of $578 thousand compared to the previous quarter, with a net yield on earning assets increasing to 3.33% from 3.17%[38] - The net yield on interest-earning assets increased by 16 basis points to 3.33% compared to the previous quarter[64] - The average yield (FTE) on the loan portfolio increased by 12 basis points to 6.27% this quarter[85] Shareholder Returns - The company paid a cash dividend of $0.27 per common share, representing a 5.1% increase over the same period last year[80] - The company purchased 806,217 shares of treasury stock at an average price of $52.13 during the current quarter[80] Tax and Securities - The effective tax rate for the Company was 21.9% in the current quarter, down from 22.8% in the previous quarter[45] - The Company recorded net securities losses of $259 thousand in the current quarter, compared to gains of $7.6 million in the prior quarter[43]

Commerce Bancshares (CBSH) came out with quarterly earnings of $0.86 per share, beating the Zacks Consensus Estimate of $0.80 per share. This compares to earnings of $0.90 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.50%. A quarter ago, it was expected that this bank holding company would post earnings of $0.82 per share when it actually produced earnings of $0.84, delivering a surprise of 2.44%.Over the last four quarter ...

Investors are always looking for stocks that are poised to beat at earnings season and Commerce Bancshares, Inc. (CBSH) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Commerce Bancshares is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Commerce Bancshares (CBSH) , which belongs to the Zacks Banks - Midwest industry.This bank holding company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 2.34%.For the last reported quarter, Commerce came out with earnings of $0.8 ...

Wall Street analysts forecast that Commerce Bancshares (CBSH) will report quarterly earnings of $0.80 per share in its upcoming release, pointing to a year-over-year decline of 11.1%. It is anticipated that revenues will amount to $385.9 million, exhibiting a decline of 0.9% compared to the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timefra ...

The market expects Commerce Bancshares (CBSH) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on April 16, 2024, might help the stock move higher if these key numbers ...

Commerce Bancshares, Inc. (CBSH) is well-positioned for top-line growth, supported by decent loan demand and efforts to improve fee income.  Supported by a solid balance sheet and earnings strength, its capital distributions seem sustainable.Analysts also seem optimistic regarding the company’s earnings growth potential. Over the past 60 days, the Zacks Consensus Estimate for CBSH’s earnings has been revised 2.9% and 1.8% upward for 2024 and 2025, respectively. The stock currently carries a Zacks Rank #2 (B ...

Commerce Bancshares, Inc (CBSH) is well-placed for revenue growth on the back of steady loan demand and strong fee income. Higher interest rates and a strong balance sheet position will continue to support its financials. However, elevated expenses and weak asset quality pose major near-term concerns.Commerce Bancshares is expanding organically. The company’s revenues witnessed a five-year (2018-2023) compound annual growth rate (CAGR) of 3.5% despite recording a decline in 2020. The upside was primarily dr ...

8 Item 1a. RISK FACTORS Table of Contents Net interest income totaled $998.1 million in 2023, increasing $55.9 million, or 5.9%, compared to $942.2 million in 2022. On a fully taxable-equivalent (FTE) basis, net interest income totaled $1.0 billion, and increased $54.9 million over 2022. This growth was mainly due to increases of $339.4 million in interest earned on loans and $88.2 million in interest earned on balances at the Federal Reserve, both mainly due to higher average rates earned. These increases ...