Commerce: Q3 Earnings Snapshot

Associated Press Finance
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KANSAS CITY, Mo. (AP) — KANSAS CITY, Mo. (AP) — Commerce Bancshares Inc. (CBSH) on Wednesday reported third-quarter net income of $120.6 million.

The bank, based in Kansas City, Missouri, said it had earnings of 96 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.

The bank holding company posted revenue of $504.1 million in the period. Its revenue net of interest expense was $391.5 million, also topping Street forecasts. Five analysts surveyed by Zacks expected $388.7 million.

Commerce shares have fallen 28% since the beginning of the year. The stock has decreased 29% 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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