Commerce: Q1 Earnings Snapshot
KANSAS CITY, Mo. (AP) — KANSAS CITY, Mo. (AP) — Commerce Bancshares Inc. (CBSH) on Tuesday reported first-quarter net income of $119.5 million.
The Kansas City, Missouri-based bank said it had earnings of 95 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The bank holding company posted revenue of $446.5 million in the period. Its revenue net of interest expense was $389.2 million, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $388.8 million.
Commerce shares have fallen 17% since the beginning of the year. The stock has fallen 16% 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