Commerce (CBSH) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Commerce Bancshares (CBSH) reported revenue of $397.14 million, up 6.8% over the same period last year. EPS came in at $1.02, compared to $0.91 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $387.21 million, representing a surprise of +2.57%. The company delivered an EPS surprise of +9.68%, with the consensus EPS estimate being $0.93.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Commerce performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin: 3.12% versus the six-analyst average estimate of 3.17%.
Efficiency Ratio: 57.22% versus 57.14% estimated by six analysts on average.
Average total interest earning assets: $32.41 billion compared to the $31.78 billion average estimate based on five analysts.
Annualized net loan charge-offs to total average loans: 0.16% versus the four-analyst average estimate of 0.22%.
Tier I Leverage Ratio: 10.46% versus the three-analyst average estimate of 10.04%.
Non-accrual loans: $6.16 million compared to the $9.95 million average estimate based on two analysts.
Total Non-Interest Income: $147.61 million versus $138.35 million estimated by six analysts on average.
Taxable equivalent Net Interest Income: $251.76 million versus the six-analyst average estimate of $251.77 million.
Trust fees: $47.27 million compared to the $45.96 million average estimate based on five analysts.
Bank card transaction fees: $49.73 million versus $46.63 million estimated by five analysts on average.
Deposit account charges and other fees: $22.63 million versus the five-analyst average estimate of $22.62 million.
Consumer brokerage services: $4.68 million versus $5.06 million estimated by four analysts on average.
View all Key Company Metrics for Commerce here>>>
Shares of Commerce have returned +5.3% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Commerce Bancshares, Inc. (CBSH) : Free Stock Analysis Report
