KANSAS CITY, Mo. (AP) — KANSAS CITY, Mo. (AP) — Commerce Bancshares Inc. (CBSH) on Tuesday reported first-quarter profit of $112.7 million.
The bank, based in Kansas City, Missouri, said it had earnings of 86 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.
The bank holding company posted revenue of $507.6 million in the period. Its revenue net of interest expense was $397.8 million, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $385.9 million.
Commerce shares have dropped 4% since the beginning of the year. The stock has decreased nearly 4% in the last 12 months.
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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