We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Compared to Estimates, Commerce (CBSH) Q2 Earnings: A Look at Key Metrics
Read MoreHide Full Article
Commerce Bancshares (CBSH - Free Report) reported $414.49 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 4.4%. EPS of $1.07 for the same period compares to $0.97 a year ago.
The reported revenue represents a surprise of +3.01% over the Zacks Consensus Estimate of $402.37 million. With the consensus EPS estimate being $0.90, the EPS surprise was +18.89%.
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: 56% versus the six-analyst average estimate of 66.1%.
Net Interest Margin (Net yield on interest earning assets): 3.6% versus the six-analyst average estimate of 3.4%.
Book value per share: $24.48 compared to the $23.60 average estimate based on five analysts.
Average total interest earning assets: $30.02 billion versus the five-analyst average estimate of $30.26 billion.
Annualized net loan charge-offs to total average loans: 0.2% compared to the 0.3% average estimate based on four analysts.
Tier I Leverage Ratio: 12.1% compared to the 11.7% average estimate based on three analysts.
Non-accrual loans: $19.30 million versus $7.55 million estimated by two analysts on average.
Total Non-Interest Income: $152.24 million versus the six-analyst average estimate of $149.41 million.
Fully-taxable equivalent net interest income: $264.58 million compared to the $255.27 million average estimate based on six analysts.
Trust fees: $52.29 million compared to the $50.56 million average estimate based on five analysts.
Bank card transaction fees: $47.48 million compared to the $48.91 million average estimate based on five analysts.
Deposit account charges and other fees: $25.33 million versus the five-analyst average estimate of $24.02 million.
Shares of Commerce have returned +15.2% over the past month versus the Zacks S&P 500 composite's +2.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Compared to Estimates, Commerce (CBSH) Q2 Earnings: A Look at Key Metrics
Commerce Bancshares (CBSH - Free Report) reported $414.49 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 4.4%. EPS of $1.07 for the same period compares to $0.97 a year ago.
The reported revenue represents a surprise of +3.01% over the Zacks Consensus Estimate of $402.37 million. With the consensus EPS estimate being $0.90, the EPS surprise was +18.89%.
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: 56% versus the six-analyst average estimate of 66.1%.
- Net Interest Margin (Net yield on interest earning assets): 3.6% versus the six-analyst average estimate of 3.4%.
- Book value per share: $24.48 compared to the $23.60 average estimate based on five analysts.
- Average total interest earning assets: $30.02 billion versus the five-analyst average estimate of $30.26 billion.
- Annualized net loan charge-offs to total average loans: 0.2% compared to the 0.3% average estimate based on four analysts.
- Tier I Leverage Ratio: 12.1% compared to the 11.7% average estimate based on three analysts.
- Non-accrual loans: $19.30 million versus $7.55 million estimated by two analysts on average.
- Total Non-Interest Income: $152.24 million versus the six-analyst average estimate of $149.41 million.
- Fully-taxable equivalent net interest income: $264.58 million compared to the $255.27 million average estimate based on six analysts.
- Trust fees: $52.29 million compared to the $50.56 million average estimate based on five analysts.
- Bank card transaction fees: $47.48 million compared to the $48.91 million average estimate based on five analysts.
- Deposit account charges and other fees: $25.33 million versus the five-analyst average estimate of $24.02 million.
View all Key Company Metrics for Commerce here>>>Shares of Commerce have returned +15.2% over the past month versus the Zacks S&P 500 composite's +2.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.