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Commerce (CBSH) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended March 2024, Commerce Bancshares (CBSH - Free Report) reported revenue of $397.85 million, up 2.2% over the same period last year. EPS came in at $0.86, compared to $0.90 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $385.9 million, representing a surprise of +3.10%. The company delivered an EPS surprise of +7.50%, with the consensus EPS estimate being $0.80.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 (Net yield on interest earning assets): 3.3% compared to the 3.2% average estimate based on six analysts.
Average total interest earning assets: $30.37 billion versus $30.99 billion estimated by five analysts on average.
Efficiency Ratio: 61.7% versus the five-analyst average estimate of 61.5%.
Annualized net loan charge-offs to total average loans: 0.2% versus the four-analyst average estimate of 0.2%.
Tier I Leverage Ratio: 11.8% versus 11.3% estimated by three analysts on average.
Non-accrual loans: $5.78 million versus $9.60 million estimated by two analysts on average.
Total Non-Interest Income: $148.85 million compared to the $144.04 million average estimate based on six analysts.
Fully-taxable equivalent net interest income: $251.31 million versus $263.02 million estimated by six analysts on average.
Trust fees: $51.11 million versus the five-analyst average estimate of $49.49 million.
Bank card transaction fees: $46.93 million versus the five-analyst average estimate of $46.87 million.
Deposit account charges and other fees: $24.15 million versus the five-analyst average estimate of $22.70 million.
Consumer brokerage services: $4.41 million versus the four-analyst average estimate of $4.15 million.
Shares of Commerce have returned +1.6% over the past month versus the Zacks S&P 500 composite's -0.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Commerce (CBSH) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended March 2024, Commerce Bancshares (CBSH - Free Report) reported revenue of $397.85 million, up 2.2% over the same period last year. EPS came in at $0.86, compared to $0.90 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $385.9 million, representing a surprise of +3.10%. The company delivered an EPS surprise of +7.50%, with the consensus EPS estimate being $0.80.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 (Net yield on interest earning assets): 3.3% compared to the 3.2% average estimate based on six analysts.
- Average total interest earning assets: $30.37 billion versus $30.99 billion estimated by five analysts on average.
- Efficiency Ratio: 61.7% versus the five-analyst average estimate of 61.5%.
- Annualized net loan charge-offs to total average loans: 0.2% versus the four-analyst average estimate of 0.2%.
- Tier I Leverage Ratio: 11.8% versus 11.3% estimated by three analysts on average.
- Non-accrual loans: $5.78 million versus $9.60 million estimated by two analysts on average.
- Total Non-Interest Income: $148.85 million compared to the $144.04 million average estimate based on six analysts.
- Fully-taxable equivalent net interest income: $251.31 million versus $263.02 million estimated by six analysts on average.
- Trust fees: $51.11 million versus the five-analyst average estimate of $49.49 million.
- Bank card transaction fees: $46.93 million versus the five-analyst average estimate of $46.87 million.
- Deposit account charges and other fees: $24.15 million versus the five-analyst average estimate of $22.70 million.
- Consumer brokerage services: $4.41 million versus the four-analyst average estimate of $4.15 million.
View all Key Company Metrics for Commerce here>>>Shares of Commerce have returned +1.6% over the past month versus the Zacks S&P 500 composite's -0.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.