Commerce: 2Q Earnings Snapshot
KANSAS CITY, Mo. (AP) _ Commerce Bancshares Inc. (CBSH) on Tuesday reported second-quarter earnings of $108 million.
The bank, based in Kansas City, Missouri, said it had earnings of 96 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.
The bank holding company posted revenue of $365.7 million in the period. Its revenue net of interest expense was $338.9 million, which also beat Street forecasts. Five analysts surveyed by Zacks expected $336.5 million.
Commerce shares have risen 3% since the beginning of the year. The stock has dropped roughly 10% in the last 12 months.