KANSAS CITY, Mo. (AP) — KANSAS CITY, Mo. (AP) — Commerce Bancshares Inc. (CBSH) on Thursday reported third-quarter net income of $138 million.
The Kansas City, Missouri-based bank said it had earnings of $1.07 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The bank holding company posted revenue of $531.1 million in the period. Its revenue net of interest expense was $421.4 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $412.8 million.
Commerce shares have risen 15% since the beginning of the year. The stock has climbed 34% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBSH at https://www.zacks.com/ap/CBSH
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
