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Commerce Bancshares (CBSH) Q3 Earnings Report Preview: What To Look For

CBSH Cover Image

Regional banking company Commerce Bancshares (NASDAQ: CBSH) will be reporting results this Thursday before the bell. Here’s what to look for.

Commerce Bancshares beat analysts’ revenue expectations by 2.8% last quarter, reporting revenues of $446.2 million, up 6.8% year on year. It was a strong quarter for the company, with a solid beat of analysts’ revenue estimates and a decent beat of analysts’ tangible book value per share estimates.

Is Commerce Bancshares a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Commerce Bancshares’s revenue to grow 5% year on year to $446.4 million, slowing from the 7.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.10 per share.

Commerce Bancshares Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Commerce Bancshares has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 2.3% on average.

Looking at Commerce Bancshares’s peers in the banks segment, some have already reported their Q3 results, giving us a hint as to what we can expect. FB Financial delivered year-on-year revenue growth of 94.2%, beating analysts’ expectations by 4.2%, and Citigroup reported revenues up 9.3%, topping estimates by 4.6%.

Read our full analysis of FB Financial’s results here and Citigroup’s results here.

Investors in the banks segment have had fairly steady hands going into earnings, with share prices down 1.5% on average over the last month. Commerce Bancshares’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $67.88 (compared to the current share price of $58.88).

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