News & Events zu Commerce Bancshares, Inc. (CBSH)CBSHCommerce Bancshares, Inc.

Commerce Q3 Revenue at $494.34M, Below Consensus

Reports Q3 revenue $494.34M, consensus $496.23M. Book value per share was $29.68 vs. $30.45 last quarter. CEO John Kemper said, "Commerce delivered another solid quarter, with strong profitability, broad-based loan growth, continued momentum across our fee businesses and excellent credit quality. Ending loan balances grew at an annualized rate of more than 7% during the quarter, led by continued strength in our commercial and wealth segments...Our underlying net interest margin expanded after excluding the TIPS inflation income recognized in the prior quarter. Fee income also increased, led by continued strength in our trust, bank card, and deposit fees. This balanced revenue mix remains an important source of strength for Commerce and supports consistent performance over time. Deposit balances performed in line with our expectations during the quarter...We also remained focused on disciplined capital management, repurchasing approximately 1.9 million shares while maintaining strong capital levels and supporting balance sheet growth. This balanced approach allows us to support customer growth, return capital to shareholders and maintain the strong balance sheet that has been a source of strength through economic cycles."

Goldman Sachs, JPMorgan, and Others to Report Earnings on October 13

Goldman Sachs, JPMorgan, Wells Fargoand Citiare scheduled to report earnings on October 13, while Morgan Stanleyand Bank of Americaare expected to announce earnings the day after. What to watch for:OUTLOOK:JPMorgan is expected to post third quarter EPS of $5.93 on revenue of $51.2B, Goldman Sachs $12.87 on $16.8B, Wells Fargo $1.85 on $22.3B, Citi $2.65 on $23.7B, Bank of America $1.10 on $30.6B, and Morgan Stanley $2.93 on $19.9B.STOCK ACTION:JPMorgan and Citi shares are down about 4% over the past month, Goldman Sachs nearly 10%, Wells Fargo more than 6%, and Bank of America and Morgan Stanley over 8%.AI SCARE TRADE:Ahead of quarterly results, Wells Fargo analyst Mike Mayo says the firm remains constructive on bank stocks over the next year but urges investors to "mind the gap" given rate concerns and, to a lesser extent, narratives around AI and the mid terms. Wells argues three emerging negative themes are "overdone": the AI "scare trade," which it expects to reverse as earnings reinforce trust driven deposit moats; mid term election noise that may slow deregulation but not derail it; and worries that higher rates are hurting capital markets, loan growth and credit, though the firm notes potential extra provisions tied to data center credit issues and softer FICC.Wells continues to see "Goliath as winning" in deposit competition. Its top pick remains Citi, though it expects a so so Q3, followed by Bank of America with relatively weak capital markets trends. Among large regionals, the firm favors Fifth Thirdand PNC Financial. In mid caps, Wells prefers Banc of California, Old National Bancorpand Pinnacle Financial, while remaining cautious near term on BOK Financial, BankUnitedand Commerce Bancshares.SELECTION 'IS CRITICAL':TD Cowen resumed coverage of 16 large-cap banks, assigning Hold ratings to JPMorgan, Bank of America and Morgan Stanley, and Buy ratings to Wells Fargo, Citi and Goldman Sachs. The firm says the fundamental backdrop "seems about as good as it gets," but views stock selection as "critical" given its stronger conviction in sector fundamentals than in current valuations.

Greenlight Partners with Commerce Bank to Offer Free Family Finance App

Greenlight Financial Technology and Commerce Bank and are offering eligible Commerce Bank customers access to Greenlight's family finance app and debit card at no cost*. Greenlight helps families manage and learn about money together as a household, enabling children to build smart financial habits from an early age, and caregivers to protect aging loved ones from financial scams. The digital app, designed for parents and kids, provides customizable spending controls for kids debit cards, automated allowance and chore-based payments, savings goal tracking and LevelUp, Greenlight's interactive financial education game. Any Commerce customer with an eligible checking account can register through Greenlight, connect their account as the preferred funding source and the monthly service fee will be waived as long as the account remains connected.