Commerce: 4Q Earnings Snapshot
KANSAS CITY, Mo. (AP) _ Commerce Bancshares Inc. (CBSH) on Thursday reported fourth-quarter profit of $109.7 million.
The Kansas City, Missouri-based bank said it had earnings of 96 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
The bank holding company posted revenue of $365.9 million in the period. Its revenue net of interest expense was $345.3 million, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $335.7 million.
For the year, the company reported profit of $433.5 million, or $3.78 per share. Revenue was reported as $1.33 billion.
Commerce shares have climbed almost 6 percent since the beginning of the year. The stock has increased 8.5 percent in the last 12 months.