Overview
Regional bank's Q4 revenue and EPS beat analyst expectations
Net income for Q4 exceeded analyst estimates
Company completed acquisition of FineMark, boosting wealth management
Outlook
Completion of FineMark acquisition expected to enhance wealth management and private banking
Result Drivers
REVENUE GROWTH - Record revenues in Q4 driven by strong net interest and non-interest income, per CEO John Kemper
TRUST FEES - Trust fees grew 10.3% over last year, mainly due to higher private client fees
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Beat | $449.36 mln | $442.41 mln (6 Analysts) |
Q4 EPS | Beat | $1.01 | $0.99 (9 Analysts) |
Q4 Net Income | Beat | $140.66 mln | $139.24 mln (8 Analysts) |
Q4 Net Interest Income | $283.15 mln | ||
Q4 Credit Loss Provision | $15.99 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy."
Wall Street's median 12-month price target for Commerce Bancshares Inc is $60.50, about 9.8% above its January 21 closing price of $55.11
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 14 three months ago
Press Release: ID:nBw6tgrpHa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)