Commerce: 1Q Earnings Snapshot

Commerce: 1Q Earnings Snapshot

Associated Press
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KANSAS CITY, Mo. (AP) _ Commerce Bancshares Inc. (CBSH) on Thursday reported first-quarter profit of $97.1 million.

The bank, based in Kansas City, Missouri, said it had earnings of 85 cents per share.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The bank holding company posted revenue of $349.1 million in the period. Its revenue net of interest expense was $324.7 million, which also missed Street forecasts. Five analysts surveyed by Zacks expected $334 million.

Commerce shares have increased nearly 7 percent since the beginning of the year. The stock has risen slightly more than 5 percent 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

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