Commerce (CBSH) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Commerce Bancshares (CBSH) reported revenue of $391.5 million, up 1.7% over the same period last year. EPS came in at $0.96, compared to $0.97 in the year-ago quarter.
The reported revenue represents a surprise of +0.72% over the Zacks Consensus Estimate of $388.71 million. With the consensus EPS estimate being $0.93, the EPS surprise was +3.23%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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 (Net yield on interest earning assets): 3.1% compared to the 3.1% average estimate based on six analysts.
Efficiency Ratio: 58.2% versus 58.1% estimated by six analysts on average.
Average total interest earning assets: $31.97 billion versus the five-analyst average estimate of $32.18 billion.
Annualized net loan charge-offs to total average loans: 0.2% versus 0.2% estimated by four analysts on average.
Tier I Leverage Ratio: 10.9% versus 10.6% estimated by three analysts on average.
Non-accrual loans: $8.21 million compared to the $8.65 million average estimate based on two analysts.
Total Non-Interest Income: $142.95 million versus $142.80 million estimated by six analysts on average.
Taxable equivalent Net Interest Income: $250.96 million versus the six-analyst average estimate of $247.40 million.
Trust fees: $49.21 million compared to the $47.13 million average estimate based on five analysts.
Bank card transaction fees: $46.90 million compared to the $49.03 million average estimate based on five analysts.
Deposit account charges and other fees: $23.09 million compared to the $22.71 million average estimate based on five analysts.
Loan fees and sales: $2.97 million versus $2.85 million estimated by four analysts on average.
View all Key Company Metrics for Commerce here>>>
Shares of Commerce have returned +2.4% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Commerce Bancshares, Inc. (CBSH) : Free Stock Analysis Report
