Commerce: 3Q Earnings Snapshot
KANSAS CITY, Mo. (AP) _ Commerce Bancshares Inc. (CBSH) on Thursday reported third-quarter net income of $112.6 million.
The bank, based in Kansas City, Missouri, said it had earnings of $1.03 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.
The bank holding company posted revenue of $348.5 million in the period. Its revenue net of interest expense was $331.5 million, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $330.9 million.
Commerce shares have climbed 17 percent since the beginning of the year. The stock has climbed 17 percent in the last 12 months.