Commerce Bancshares (CBSH) Releases Earnings Results, Misses Expectations By $-0.02 EPS

Commerce Bancshares (CBSH) announced its most recent quarterly financial results on Friday, Oct-14-2016. CBSH reported $0.68 earnings per share for the quarter, missing the analyst consensus estimate by $-0.02. Analysts had a consensus of $0.70. The company posted revenue of $290.60 million in the period, compared to analysts expectations of $298.13 million. CBSH’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.

Many Wall Street Analysts have commented on Commerce Bancshares. Commerce Bancshares was Downgraded by Morgan Stanley to ” Underweight” on Sep 20, 2016.

Commerce Bancshares closed down -0.18 points or -0.36% at $50.27 with 5,13,196 shares getting traded on Tuesday. Post opening the session at $50.52, the shares hit an intraday low of $49.87 and an intraday high of $50.65 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Sep 12, 2016, Jonathan M Kemper (Vice Chairman) sold 50,000 shares at $50.07 per share price. According to the SEC, on Sep 6, 2016, Patricia R Kellerhals (Senior Vice President) sold 273 shares at $50.29 per share price. On Aug 25, 2016, David W Kemper (Chairman of the Board, CEO) sold 50,000 shares at $49.26 per share price, according to the Form-4 filing with the securities and exchange commission.

Commerce Bancshares Inc. is a bank holding company of Commerce Bank (the Bank). The Company operates through three segments: Consumer Commercial and Wealth. The Consumer segment includes the retail branch network consumer installment lending personal mortgage banking consumer debit and credit bank card activities. It provides services through a network of 195 branches an automated teller machine (ATM) network of 392 machines and the use of alternative delivery channels such as online banking mobile and telephone banking services. The Commercial segment provides an array of corporate lending merchant and commercial bank card products leasing and international services as well as business and government deposit and cash management services. The Wealth segment provides trust and estate tax planning services brokerage services and advisory and discretionary investment portfolio management services to both personal and institutional corporate customers.

Commerce Bancshares

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