- Total deposits were $25.29 billion, meeting the estimated $25.19 billion.
- Total loans stood at $17.22 billion, slightly above the estimate of $17.17 billion.
- Average loans came in lower than expected at $17.07 billion, compared to the estimate of $17.13 billion.
- Earnings Per Share (EPS) was $1.01, surpassing the estimate of 93 cents.
- Total revenue reached $422.1 million, exceeding the estimated $415.8 million.
- Provision for credit losses was recorded at $13.5 million, higher than the estimate of $12.9 million.
- The net yield on interest-earning assets achieved 3.49%, compared to the expected 3.46%.
- The efficiency ratio was 55.8%.
- Net charge-offs were lower at $10.7 million, beating the estimate of $11.6 million.
- The effective tax rate was 21.2%.
- John Kemper, President and CEO, highlighted the strong fourth-quarter earnings as a result of a resilient balance sheet, a diversified operating model, and controlled expenses.
- Fixed-rate asset repricing and lower deposit costs countered the lower variable rate loan yields.
- Growth in deposits and investment securities drove net interest income upwards this quarter.
- Analyst recommendations: 0 buys, 6 holds, and 1 sell.
“`
A look at Commerce Bancshares Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 3 | |
| Growth | 3 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Commerce Bancshares, Inc. is positioned well for the long term based on the Smartkarma Smart Scores analysis. With solid scores of 3 for Value, Dividend, and Growth factors, the company demonstrates a balanced approach to its financial performance. A notable factor contributing to the positive outlook is Commerce Bancshares‘ resilience, earning a score of 4, suggesting a strong capability to withstand economic challenges. Additionally, the company’s Momentum score of 4 indicates a favorable trend in its market performance.
Commerce Bancshares, Inc. holds a diverse portfolio of banking services and related activities across multiple states. By leveraging its strengths in areas such as capital markets, trust services, and investment management, the company is well-positioned to sustain its growth and profitability over the long term. Overall, the Smartkarma Smart Scores paint a favorable picture for Commerce Bancshares, pointing towards a stable and promising future in the banking sector.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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