Commerce Bancshares Inc. Profit Rises In Q3, but misses estimates

(RTTNews) - Commerce Bancshares Inc. (CBSH) announced earnings for its third quarter that increased from the same period last year but missed the Street estimates.

The company's earnings totaled $122.82 million, or $1.02 per share. This compares with $122.56 million, or $0.99 per share, in last year's third quarter.

Analysts on average had expected the company to earn $1.03 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.5% to $384.89 million from $351.54 million last year.

Commerce Bancshares Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $122.82 Mln. vs. $122.56 Mln. last year. -EPS (Q3): $1.02 vs. $0.99 last year. -Analyst Estimate: $1.03 -Revenue (Q3): $384.89 Mln vs. $351.54 Mln last year.