Compared to Estimates, Commerce (CBSH) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2023, Commerce Bancshares (CBSH) reported revenue of $389.24 million, up 14.3% over the same period last year. EPS came in at $0.95, compared to $0.92 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $388.8 million, representing a surprise of +0.11%. The company delivered an EPS surprise of +3.26%, with the consensus EPS estimate being $0.92.
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:
Efficiency Ratio: 57.49% compared to the 55.95% average estimate based on six analysts.
Net Interest Margin: 3.26% versus 3.24% estimated by six analysts on average.
Average total interest earning assets: $31.57 billion versus the four-analyst average estimate of $32.39 billion.
Annualized net loan charge-offs to total average loans: 0.17% compared to the 0.17% average estimate based on four analysts.
Tier I Leverage Ratio: 10.61% versus 9.79% estimated by three analysts on average.
Total risk-based capital ratio: 15.26% versus the three-analyst average estimate of 14.92%.
Total Non-Interest Income: $137.61 million versus the six-analyst average estimate of $133.25 million.
Taxable equivalent Net Interest Income: $253.41 million compared to the $257.88 million average estimate based on six analysts.
Trust fees: $45.33 million versus the five-analyst average estimate of $45.15 million.
Deposit account charges and other fees: $21.75 million compared to the $21.67 million average estimate based on five analysts.
Bank card transaction fees: $46.65 million compared to the $43.88 million average estimate based on five analysts.
Consumer brokerage services: $5.09 million compared to the $4.52 million average estimate based on four analysts.
View all Key Company Metrics for Commerce here>>>
Shares of Commerce have returned -8.6% over the past month versus the Zacks S&P 500 composite's +1.2% 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
