Commerce Bancshares (CBSH) Stock Gains on Q1 Earnings Beat

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 ...