Commerce: 3Q Earnings Snapshot
KANSAS CITY, Mo. (AP) _ Commerce Bancshares Inc. (CBSH) on Wednesday reported third-quarter profit of $109.2 million.
The bank, based in Kansas City, Missouri, said it had earnings of 98 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The bank holding company posted revenue of $364.5 million in the period. Its revenue net of interest expense was $336.3 million, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $336.9 million.
Commerce shares have increased almost 7% since the beginning of the year. The stock has increased slightly more than 2% in the last 12 months.