Over the past 30 days, the Zacks Consensus Estimate for both 2024 and 2025 earnings has moved marginally upward. CBSH currently carries a Zacks Rank #2 (Buy). Earnings Growth: Commerce Bancshares witnessed earnings growth of 9% over the past three to five years. This was driven by the company's organic growth strategy, solid customer relationships and strong risk management. Our estimates for total revenues indicate 1.1%, 2.1% and 2.7% growth in 2024, 2025 and 2026, respectively. Commerce Bancshares, Inc. ( ...

Commerce Bancshares, Inc. (CBSH) remains well-positioned for growth on the back of decent loan demand, high rates and a solid balance sheet. However, deteriorating asset quality and an elevated expense base are headwinds. CBSH's organic expansion efforts have been driving its growth strategy. Revenues witnessed a five-year (2018- 2023) compound annual growth rate (CAGR) of 3.5%. This growth was primarily driven by strong loan balances (which experienced a 4% CAGR over the four-year period ended 2023) and fe ...

Commerce Bancshares (CBSH) has announced a strategic repositioning of its balance sheet following the acceptance of a share exchange deal with Visa Inc. (V) .This January, in a Securities and Exchange Commission filing, Visa announced receipt of its shareholders' approval to amend its Certificate of Incorporation “that redenominated the Visa Class B common stock to Visa Class B-1 common stock.” The shareholders also authorized V to conduct one or more exchange offers. The company’s unique share structure – ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ________________________________________________________ For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |---------------------------------------|----------------------------------------------------- ...

Commerce Bancshares (CBSH) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this bank holding company, should get reflected in its stock price. After all, empirical research shows a strong correlation betwe ...

Shares of Commerce Bancshares Inc. (CBSH) gained 1.5% following the release of first-quarter 2024 results. Quarterly earnings per share of 86 cents surpassed the Zacks Consensus Estimate of 80 cents. However, the bottom line decreased 5.5% from the prior-year quarter.Results benefited from a rise in non-interest income and lower provisions, which were partially offset by net losses on investment securities. Also, the company recorded a sequential improvement in loan balances in the quarter. However, a decli ...

Commerce Bancshares, one of the Midwest’s strongest regional banks, joined the chorus of Q1 results reporting Tuesday (April 16) and sounded the theme of resiliency. Tipping its hat to the high interest rates and cautious consumer spending outlook that has dominated bank reporting over the past week, the company posted better than expected first-quarter earnings, citing solid consumer credit management as it continues to focus on liquidity.“Commerce delivered a strong financial performance for the first qua ...

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 ...