For the quarter ended September 2023, Commerce Bancshares (CBSH - Free Report) 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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For the quarter ended September 2023, Commerce Bancshares (CBSH - Free Report) 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.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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