Commerce Bancshares 주식 (NASDAQ: CBSH)

Commerce Bancshares (NASDAQ:CBSH) 주식

Commerce Bancshares

Commerce Bancshares Inc. is a $22 billion regional bank that provides a diversified line of financial services, including business and personal banking, wealth management, financial planning, and investments through its affiliated companies. Commerce Bank operates in more than 200 locations in the central United States. Commerce Bancshares also has operating subsidiaries involved in mortgage banking, leasing, credit-related insurance, venture capital, and real estate activities.

Commerce Bancshares Inc

Wells Fargo analyst Timur Braziler maintains Commerce Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBSH#NASDAQ">CBSH</a>) with a Equal-Weight and raises the price target from $67 to $70.

News

Price Target

Analyst Ratings

CBSH

Wells Fargo Maintains Equal-Weight on Commerce Bancshares, Raises Price Target to $70

Piper Sandler analyst Nathan Race maintains Commerce Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBSH#NASDAQ">CBSH</a>) with a Neutral and raises the price target from $69 to $72.

Piper Sandler Maintains Neutral on Commerce Bancshares, Raises Price Target to $72

Commerce Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBSH#NASDAQ">CBSH</a>) reported quarterly earnings of $1.01 per share which beat the analyst consensus estimate of $0.94 by 7.45 percent. The company reported quarterly sales of $422.083 million which beat the analyst consensus estimate of $416.387 million by 1.37 percent. This is a 7.32 percent increase over sales of $393.300 million the same period last year.

Earnings

Earnings Beats

Commerce Bancshares Q4 2024 GAAP EPS $1.01 Beats $0.94 Estimate, Sales $422.083M Beat $416.387M Estimate

<h3>Companies Reporting Before The Bell</h3>
• HDFC Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HDB#NYSE">HDB</a>) is projected to report quarterly earnings at $0.49 per share on revenue of $422.93 billion. 
• Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) is likely to report quarterly earnings at $6.61 per share on revenue of $10.80 billion. 
• Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) is projected to report quarterly earnings at $1.86 per share on revenue of $21.59 billion. 
• Comerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) is projected to report quarterly earnings at $1.26 per share on revenue of $837.57 million. 
• GE Vernova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) is expected to report quarterly earnings at $2.37 per share on revenue of $10.70 billion. 
• Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) is likely to report quarterly earnings at $2.02 per share on revenue of $22.45 billion. 
• Textron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXT#NYSE">TXT</a>) is likely to report quarterly earnings at $1.28 per share on revenue of $3.27 billion. 
• Teledyne Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) is projected to report quarterly earnings at $5.23 per share on revenue of $1.45 billion. 
• TE Connectivity (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEL#NYSE">TEL</a>) is projected to report quarterly earnings at $1.89 per share on revenue of $3.91 billion. 
• OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) is projected to report quarterly earnings at $0.96 per share on revenue of $176.15 million. 
• F N B (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNB#NYSE">FNB</a>) is likely to report quarterly earnings at $0.33 per share on revenue of $408.00 million. 
• LG Display Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPL#NYSE">LPL</a>) is projected to report quarterly earnings at $0.01 per share on revenue of $5.87 billion. 
• HBT Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBT#NASDAQ">HBT</a>) is likely to report quarterly earnings at $0.58 per share on revenue of $57.48 million. 
• Halliburton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) is estimated to report quarterly earnings at $0.70 per share on revenue of $5.63 billion. 
• BankUnited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKU#NYSE">BKU</a>) is projected to report quarterly earnings at $0.72 per share on revenue of $261.25 million. 
• United Community Banks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UCB#NYSE">UCB</a>) is likely to report earnings for its fourth quarter. 
• Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) is projected to report quarterly earnings at $1.34 per share on revenue of $11.04 billion. 
• Commerce Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBSH#NASDAQ">CBSH</a>) is projected to report quarterly earnings at $0.89 per share on revenue of $417.18 million. 
• Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) is expected to report quarterly earnings at $0.64 per share on revenue of $2.01 billion. 
• Amphenol (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APH#NYSE">APH</a>) is expected to report quarterly earnings at $0.50 per share on revenue of $4.06 billion. 
<h3>Companies Reporting After The Bell</h3>
• Triumph Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TFIN#NASDAQ">TFIN</a>) is likely to report quarterly earnings at $0.25 per share on revenue of $108.44 million. 
• Steel Dynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) is projected to report quarterly earnings at $1.63 per share on revenue of $3.98 billion. 
• Origin Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OBK#NYSE">OBK</a>) is likely to report quarterly earnings at $0.52 per share on revenue of $87.75 million. 
• Old Second Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSBC#NASDAQ">OSBC</a>) is likely to report quarterly earnings at $0.48 per share on revenue of $59.62 million. 
• Wesbanco (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WSBC#NASDAQ">WSBC</a>) is estimated to report quarterly earnings at $0.55 per share on revenue of $156.42 million. 
• First Internet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INBK#NASDAQ">INBK</a>) is expected to report quarterly earnings at $0.91 per share on revenue of $24.88 million. 
• NVE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVEC#NASDAQ">NVEC</a>) is estimated to report earnings for its third quarter. 
• Univest Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UVSP#NASDAQ">UVSP</a>) is expected to report quarterly earnings at $0.57 per share on revenue of $73.45 million. 
• SL Green Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) is likely to report quarterly earnings at $1.53 per share on revenue of $156.30 million. 
• Cohen &amp; Steers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNS#NYSE">CNS</a>) is projected to report quarterly earnings at $0.81 per share on revenue of $140.72 million. 
• Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) is expected to report quarterly earnings at $0.33 per share on revenue of $4.13 billion. 
• Knight-Swift (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>) is projected to report quarterly earnings at $0.33 per share on revenue of $1.88 billion. 
• Equity Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQBK#NYSE">EQBK</a>) is estimated to report quarterly earnings at $0.91 per share on revenue of $55.96 million. 
• RLI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLI#NYSE">RLI</a>) is expected to report quarterly earnings at $1.04 per share on revenue of $435.02 million. 
• CACI International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CACI#NYSE">CACI</a>) is expected to report quarterly earnings at $5.23 per share on revenue of $2.02 billion. 
• Eagle Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EGBN#NASDAQ">EGBN</a>) is estimated to report quarterly earnings at $0.49 per share on revenue of $74.67 million. 
• Hexcel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HXL#NYSE">HXL</a>) is estimated to report quarterly earnings at $0.53 per share on revenue of $480.50 million. 
• National Bank Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBHC#NYSE">NBHC</a>) is likely to report quarterly earnings at $0.79 per share on revenue of $107.38 million. 
• QCR Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCRH#NASDAQ">QCRH</a>) is projected to report quarterly earnings at $1.73 per share on revenue of $96.56 million. 
• Cathay General (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CATY#NASDAQ">CATY</a>) is projected to report quarterly earnings at $1.09 per share on revenue of $185.11 million. 
• Bankwell Finl Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BWFG#NASDAQ">BWFG</a>) is projected to report quarterly earnings at $0.65 per share on revenue of $22.12 million. 
• Third Coast Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBX#NASDAQ">TCBX</a>) is estimated to report quarterly earnings at $0.53 per share on revenue of $41.96 million. 
• Plexus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLXS#NASDAQ">PLXS</a>) is projected to report quarterly earnings at $1.55 per share on revenue of $980.53 million. 
• Live Oak Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOB#NYSE">LOB</a>) is expected to report quarterly earnings at $0.54 per share on revenue of $131.10 million. 
• Amerant Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMTB#NYSE">AMTB</a>) is expected to report quarterly earnings at $0.36 per share on revenue of $100.68 million. 
• Horizon Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBNC#NASDAQ">HBNC</a>) is likely to report quarterly earnings at $0.37 per share on revenue of $62.78 million. 
• Cadence Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CADE#NYSE">CADE</a>) is expected to report quarterly earnings at $0.68 per share on revenue of $457.77 million. 
• Colony Bankcorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBAN#NYSE">CBAN</a>) is projected to report quarterly earnings at $0.34 per share on revenue of $28.90 million. 
• Banner (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BANR#NASDAQ">BANR</a>) is estimated to report quarterly earnings at $1.21 per share on revenue of $156.09 million. 
• Alcoa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) is projected to report quarterly earnings at $0.91 per share on revenue of $3.29 billion. 
• Discover Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>) is estimated to report quarterly earnings at $3.26 per share on revenue of $4.39 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For January 22, 2025

Keefe, Bruyette &amp; Woods analyst Christopher Mcgratty maintains Commerce Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBSH#NASDAQ">CBSH</a>) with a Market Perform and raises the price target from $66 to $78.

Keefe, Bruyette & Woods Maintains Market Perform on Commerce Bancshares, Raises Price Target to $78

Wells Fargo analyst Steven Shaw maintains Commerce Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBSH#NASDAQ">CBSH</a>) with a Equal-Weight and raises the price target from $62 to $67.

Wells Fargo Maintains Equal-Weight on Commerce Bancshares, Raises Price Target to $67

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Shares of banking-related companies are trading higher after Donald Trump won the US presidential election.

Commerce Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBSH#NASDAQ">CBSH</a>) reported quarterly earnings of $1.07 per share which beat the analyst consensus estimate of $1.01 by 5.94 percent. This is a 16.3 percent increase over earnings of $0.92 per share from the same period last year. The company reported quarterly sales of $421.38 million which beat the analyst consensus estimate of $419.72 million by 0.39 percent. This is a 7.63 percent increase over sales of $391.50 million the same period last year.

Commerce Bancshares Q3 2024 GAAP EPS $1.07 Beats $1.01 Estimate, Sales $421.38M Beat $419.72M Estimate

Commerce Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBSH#NASDAQ">CBSH</a>) is gearing up to announce its quarterly earnings on Thursday, 2024-10-17. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Commerce Bancshares will report an earnings per share (EPS) of $1.00.
The announcement from Commerce Bancshares is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Overview of Past Earnings</h3>
Last quarter the company beat EPS by $0.17, which was followed by a 0.44% drop in the share price the next day.
Here's a look at Commerce Bancshares's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.90</td>
<td>0.81</td>
<td>0.85</td>
<td>0.89</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.07</td>
<td>0.86</td>
<td>0.94</td>
<td>0.91</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-0.0%</td>
<td>2.0%</td>
<td>3.0%</td>
<td>-5.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729094443_0.png" alt="eps graph" />
<h3>Tracking Commerce Bancshares's Stock Performance</h3>
Shares of Commerce Bancshares were trading at $61.11 as of October 15. Over the last 52-week period, shares are up 39.74%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/CBSH/earnings">To track all earnings releases for Commerce Bancshares visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Peek at Commerce Bancshares's Future Earnings

Euronet Worldwide, Inc.&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eeft#NASDAQ">EEFT</a>) Ria Money Transfer (&quot;RIA&quot;) inked a deal with a leading community financial services retailer, PLS Financial Services, headquartered in Chicago. Under this new collaboration, RIA will be the exclusive money transfer service provider for more than 200 PLS Check Cashers in the United States.
This move bodes well for EEFT as this partnership opens a new channel for Ria to expand money transfer services, which include real-time account deposits to 4.1 billion bank accounts and access to more than 2 billion mobile wallets globally. With nearly 600,000 cash pickup locations in 198 countries, Ria&#39;s network promises unparalleled convenience and accessibility to PLS&#39;s diverse customer base.
This is a time opportune move as demand for economic and competitive money transfer services is on the rise. Per The World Bank, the remittance market is expected to grow 2.3% in 2024. EEFT currently owns a 7% market share and expects this to grow in due time as the company enters new markets through partnerships, enhancing the usability of its networks and competing for a larger number of customers.
The Money Transfer segment is the largest segment in EEFT&#39;s revenues. The company&#39;s revenues grew 7% year over year in the second quarter of 2024. Growth in this segment will drive the overall performance of EEFT in the future. Moves like these will aid the company in achieving its earnings growth target of 10-15% year over year in 2024. This move also highlights the success of RIA, which expanded from a cross-border payments service to family members in countries of Latin America at the time of acquisition to a global network at present.
Shares of Euronet have gained 22.6% in the past year compared with the&nbsp;industry&#39;s 21.8% growth. EEFT currently carries a Zacks Rank #3 (Hold).
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/e5/76557.jpg?v=947340992" style="height:492px; width:620px" />
Image Source: Zacks Investment Research
<h3>Stocks to Consider</h3>
Some better-ranked stocks in the&nbsp;Finance&nbsp;space are&nbsp;Commerce Bancshares, Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cbsh#NASDAQ">CBSH</a>),&nbsp;Amalgamated Financial Corp.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amal#NASDAQ">AMAL</a>) and&nbsp;Esquire Financial Holdings, Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/esq#NASDAQ">ESQ</a>). Commerce Bancshares sports a Zacks Rank #1 (Strong Buy), and Amalgamated Financial and Esquire Financial currently carry a Zacks Rank #2 (Buy).
Commerce Bancshares&#39; earnings surpassed estimates in each of the trailing four quarters, the average surprise being 8%. The Zacks Consensus Estimate for CBSH&#39;s 2024 earnings indicates an improvement of 8.8%, while the consensus estimate for revenues implies growth of 4.3% from the corresponding year-ago reported figures. The consensus mark for CBSH&#39;s earnings has moved 1.5% north in the past 30 days.
The bottom line of Amalgamated Financial beat estimates in three of the trailing four quarters and missed the mark once, the average surprise being 7.1%. The Zacks Consensus Estimate for AMAL&#39;s 2024 earnings indicates an improvement of 11.9%, while the consensus estimate for revenues implies growth of 7% from the corresponding year-ago reported figures. The consensus mark for AMAL&#39;s earnings has moved 6.1% north in the past 30 days.
Esquire Financial&#39;s earnings outpaced estimates in three of the last four quarters and missed the mark once, the average surprise being 1.7%. The Zacks Consensus Estimate for ESQ&#39;s 2024 earnings indicates an improvement of 12.5%, while the consensus estimate for revenues implies growth of 9.1% from the corresponding year-ago reported figures. The consensus mark for ESQ&#39;s earnings has moved 3.4% north in the past 60 days.
<a href="https://www.zacks.com/stock/news/2331597/euronet-s-ria-expands-reach-with-pls-partnership-in-the-united-states?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2331597">To read this article on Zacks.com click here.</a>

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EEFT

Euronet's Ria Expands Reach With PLS Partnership in the United States

Shares of Euronet Worldwide, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eeft#NASDAQ">EEFT</a>) have gained 23.6% in the past year compared with the industry&#39;s 21.6% growth. With a market capitalization of $4.8 billion, the average volume of shares traded in the last three months was 0.4 million.
Euronet&#39;s growth is driven by expansions in its EFT Processing and Money Transfer segments, robust ATM network enhancements, strategic acquisitions and partnerships, all underpinned by a solid financial foundation.&nbsp;
The company, presently carrying a Zacks Rank #3 (Hold), has a decent record of beating estimates in three of the trailing four quarters and matching the mark once, the average earnings surprise being 9.04%.&nbsp;
Return on equity in the trailing 12 months is currently 31.7%, which is higher than the industry&#39;s average of 20.9%. This substantiates the company&#39;s efficiency in utilizing shareholders&#39; funds.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f9/76415.jpg?v=937174342" />
Image Source: Zacks Investment Research
<h2>Robust Growth Prospects of EEFT Stock</h2>
The Zacks Consensus Estimate for Euronet&#39;s 2024 earnings is pegged at $8.64 per share, which indicates a 15.8% increase from the 2023 figure. The consensus mark for revenues is $3.9 billion, implying 6.2% growth from the year-ago figure.&nbsp;
The Zacks Consensus Estimate for 2025 earnings is pegged at $9.70 per share, which implies an 12.3% improvement from the 2024 estimate. The consensus mark for revenues is $4.2 billion, implying a 8.1% rise from the 2024 estimate.
<h2>Can Euronet Retain the Momentum?</h2>
Euronet&#39;s revenues continue to see robust growth, primarily driven by its EFT Processing and Money Transfer segments. In the first half of 2024, revenues rose 6.8% year over year.&nbsp;
The growth in the EFT Processing segment is supported by an increase in the average number of active ATMs, a recovery in cross-border transaction volumes and ongoing expansion into new markets. The Money Transfer segment is bolstered by an increase in U.S.-outbound transactions, direct-to-consumer digital transactions and international-originated money transfers.
Euronet consistently works to broaden its independent ATM network across various countries, aiming to process a greater number of transactions. In May 2024, it acquired Malaysian Electronic Payment System (&quot;MEPS&quot;) ATM terminals, aiming to strengthen its presence in the Malaysian market and reinforce its position as a leading player in the country&#39;s non-bank ATM sector.
Euronet&#39;s strategy includes growth through acquisitions and partnerships, which help develop new products and services, increase revenues and strengthen its geographic footprint. In June 2024, the company inked a multi-year agreement with Onnipro, a top payment processing solutions provider in Brazil. Under this deal, Onnipro will leverage Euronet&#39;s Ren payments platform to strengthen its card-issuing capabilities. In April 2024, EEFT and SOFTONE Group, a major cloud-based business software provider in Greece and Southeast Europe, joined forces to offer integrated merchant-acquiring solutions in Greece.
Moreover, the surge in the digital economy promotes growth in contactless payments, providing Euronet with significant opportunities to capitalize on as a provider of electronic payment and transaction processing solutions in the days ahead. Its uninterrupted pursuit of growth initiatives is supported by its strong financial position. As of June 30, 2024, the company had substantial cash reserves of $1.3 billion, an increase of 1.4% from the 2023-end level. EEFT boasts an impressive VGM Score of B. VGM Score helps identify stocks with the most attractive value, the best growth and the most promising momentum.
<h2>Stocks to Consider</h2>
Some better-ranked stocks in the Finance space are Commerce Bancshares, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cbsh#NASDAQ">CBSH</a>), Amalgamated Financial Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amal#NASDAQ">AMAL</a>) and Esquire Financial Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/esq#NASDAQ">ESQ</a>). Commerce Bancshares sports a Zacks Rank #1 (Strong Buy), and Amalgamated Financial and Esquire Financial currently carry a Zacks Rank #2 (Buy).
Commerce Bancshares&#39; earnings surpassed estimates in each of the trailing four quarters, the average surprise being 8.02%. The Zacks Consensus Estimate for CBSH&#39;s 2024 earnings indicates an improvement of 8.8% while the consensus estimate for revenues implies growth of 4.3% from the corresponding year-ago reported figures. The consensus mark for CBSH&#39;s earnings has moved 1.5% north in the past 30 days.
The bottom line of Amalgamated Financial beat estimates in three of the trailing four quarters and missed the mark once, the average surprise being 7.14%. The Zacks Consensus Estimate for AMAL&#39;s 2024 earnings indicates an improvement of 11.9% while the consensus estimate for revenues implies growth of 7% from the corresponding year-ago reported figures. The consensus mark for AMAL&#39;s earnings has moved 6.1% north in the past 30 days.
Esquire Financial&#39;s earnings outpaced estimates in three of the last four quarters and missed the mark once, the average surprise being 1.72%. The Zacks Consensus Estimate for ESQ&#39;s 2024 earnings indicates an improvement of 12.5% while the consensus estimate for revenues implies growth of 9.1% from the corresponding year-ago reported figures. The consensus mark for ESQ&#39;s earnings has moved 3.4% north in the past 60 days.
Shares of Commerce Bancshares, Amalgamated Financial and Esquire Financial have gained 34%, 79.9% and 26.7%, respectively, in the past year.
<a href="https://www.zacks.com/stock/news/2330986/euronet-stock-rises-24-in-a-year-what-lies-ahead-for-investors?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2330986">To read this article on Zacks.com click here.</a>

Euronet Stock Rises 24% in a Year: What Lies Ahead for Investors?

Commerce Bancshares, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cbsh#NASDAQ">CBSH</a>) is well-positioned for growth, given the decent loan demand, high interest rates and its balance sheet repositioning strategy. Moreover, solid liquidity and non-interest income growth will further support its financials.
Over the past week, the Zacks Consensus Estimate for both 2024 and 2025 earnings has moved marginally upward to $3.94 and $3.89, respectively. CBSH currently sports a Zacks Rank #1 (Strong Buy).
Year to date, shares of Commerce Bancshares have gained 16.2%, outperforming the industry&#39;s growth of 9.2%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/99/75089.jpg?v=1314157690" /> 
Image Source: Zacks Investment Research
<h2>What Makes the Stock Worth Betting on</h2>
Earnings Growth: Commerce Bancshares witnessed earnings growth of 8.9% over the past three to five years. This was driven by the company&#39;s organic growth strategy, solid customer relationships and strong risk management.
Our projections for earnings indicate a 4.8%, 1% and 6% rise in 2024, 2025 and 2026, respectively.
Revenue Strength: Driven by growth in loan demand and fee income, Commerce Bancshares&#39; total revenues witnessed a compound annual growth rate (CAGR) of 3.5% over the last five years (2018-2023). The trend continued in the first half of 2024 as well. Organic growth measures and a high-interest-rate scenario are likely to support top-line expansion, though rising funding costs will weigh on it to some extent.
Further, its balance sheet repositioning strategy is likely to boost net interest income through the sale of debt securities and reinvesting the proceeds at higher yields.
Our estimates for total revenues indicate 3.6%, 1.4% and 1.9% growth in 2024, 2025 and 2026, respectively.
Strong Balance Sheet: As of Jun 30, 2024, CBSH&#39;s total cash and cash equivalents (consisting of cash and due from banks and interest-earning deposits with banks) were $2.5 billion. Total debt (comprising other liabilities and other borrowings) was $580.4 million. Also, the company maintains investment grade ratings of A- and a stable outlook from Standard &amp; Poor&#39;s. Hence, a solid liquidity position allows the company to address its near-term obligations.
Impressive Capital Distributions: Commerce Bancshares&#39; capital distribution activities are encouraging. The company has been paying a 5% stock dividend over the past 25 years, with the most recent one announced in December 2023. The company has been consistently paying quarterly cash dividends and has a share repurchase plan in place. As of Jun 30, 2024, roughly 4.3 million shares remained available under the authorization.
Given its decent earnings strength and strong liquidity position, the company is expected to continue efficient capital distributions, thus enhancing shareholder value.
Superior Return on Equity (ROE): CBSH&#39;s trailing 12-month ROE reflects its superiority in terms of utilizing shareholders&#39; funds. The company&#39;s ROE of 16.5% compares favorably with 10.9% of the industry.
<h3>Other Bank Stocks to Consider</h3>
Some other top-ranked stocks from the banking space worth a look are 1st Source Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/srce#NASDAQ">SRCE</a>) and Farmers National Banc Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fmnb#NASDAQ">FMNB</a>), each sporting a Zacks Rank #1 at present.
The Zacks Consensus Estimate for SRCE&#39;s current-year earnings has moved 10.7% north over the past 30 days. Shares of the company have gained 17.1% in the past six months.
The Zacks Consensus Estimate for FMNB&#39;s 2024 earnings has moved 3.8% upward in the past month. Over the past six months, shares of the company have risen 7.5%.
<a href="https://www.zacks.com/stock/news/2325925/here-s-why-commerce-bancshares-cbsh-stock-is-a-must-buy-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2325925">To read this article on Zacks.com click here.</a>

Dividends

SRCE

Here's Why Commerce Bancshares Stock is a Must Buy Now

Old National Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/onb#NASDAQ">ONB</a>) is well-positioned on strong loan growth, high interest rates and strategic initiatives. Moreover, solid liquidity and efforts to improve fee income are likely to support its financials.
Over the past 30 days, the Zacks Consensus Estimate for 2024 and 2025 earnings has remained unchanged. ONB currently carries a Zacks Rank #2 (Buy).
Over the past year, shares of Old National have gained 7.3%.
<div class="chart_embed">
<h3>Old National Bancorp Price</h3>
<img alt="Old National Bancorp Price" src="https://staticx-tuner.zacks.com/images/charts/7f/1723122927.png" style="height:254px; width:536px" title="" />
Old National Bancorp price | Old National Bancorp Quote
Let&#39;s dig deeper into the factors that make ONB stock worth buying now.
Earnings Growth: Old National witnessed earnings growth of 9.8% over the past three to five years, outperforming the industry average of 8.5%. This was largely driven by the company&#39;s organic growth strategy, solid balance sheet and opportunistic expansions.
Also, the company has a decent earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and lagged in one, with the average beat being 2.28%.
While the Zacks Consensus Estimate for earnings indicates a 9.8% decline on a year-over-year basis in 2024, earnings are projected to rebound and grow at the rate of 7.6% in 2025.
Revenue Strength: Driven by diverse revenue streams, solid loan growth and inorganic expansionary measures, Old National&#39;s total revenues witnessed a compound annual growth rate (CAGR) of 20.2% over the last five years (2018-2023). Though the trend reversed in the first half of 2024 due to higher deposit costs and lower capital markets income, a high interest rate regime, improving fee income and strategic acquisitions are likely to support top-line expansion, while rising funding costs will weigh on it to some extent.
The Zacks Consensus Estimate for revenues indicates 1.8% and 5.8% growth on a year-over-year basis in 2024 and 2025, respectively.
Strategic Business Restructuring: Old National has been engaged in opportunistic acquisitions and divestitures to expand its footprint and gain market share while boosting operational efficiency. Notably, the company has acquired more than 50 financial institutions since its inception in 1982.
This April, the company completed its merger with CapStar Financial Holdings, Inc. In 2022, the company completed its merger of equals with First Midwest. In the same year, ONB completed the sale of a part of its business that served as a custodian and administrator for health savings accounts.&nbsp; These strategic initiatives have deepened the company&#39;s presence within the United States and helped expand fee income sources while optimizing the business structure.
Strong Balance Sheet: As of Jun 30, 2024, ONB&#39;s total cash and cash equivalents (consisting of cash and due from banks and money market and other interest-earning investments) were $1.2 billion. Other borrowings were $849.8 million as of the same date. Hence, a solid liquidity position allows the company to address its near-term obligations.
Impressive Capital Distributions: Old National&#39;s dividend payouts are encouraging. The company has been paying dividends regularly, with the most recent one announced in May 2024. Moreover, the company has hiked its dividend once during the last five years. Further, the company has a share repurchase program in place. The plan was authorized this February, enabling the company to buy back up to $200 million worth of shares, with an expiration date of Feb 28, 2025.&nbsp; As of Jun 30, 2024, the entire authorization remained available.
Given its decent earnings strength and strong liquidity position, the company is expected to continue its capital distribution activities, thus enhancing shareholder value.
Stock Seems Undervalued: ONB&#39;s price-to-book and price-to-earnings (F1) ratios of 0.97 and 7.68 are well below the industry average of 1.07 and 10.72, respectively. Thus, the stock seems to be available at a better valuation than its peers.
</div>
<h3>Other Banking Stocks to Consider</h3>
Some other top-ranked stocks from the banking space worth a look are 1st Source Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/srce#NASDAQ">SRCE</a>) and Commerce Bancshares, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cbsh#NASDAQ">CBSH</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The Zacks Consensus Estimate for SRCE&#39;s current-year earnings has moved 5.9% north over the past week. Shares of the company have gained 15.9% in the past six months.
The Zacks Consensus Estimate for CBSH&#39;s 2024 earnings has moved 8.3% upward in the past month. Over the past six months, shares of the company have gained 19.8%.
<a href="https://www.zacks.com/stock/news/2319339/here-s-why-old-national-onb-stock-is-worth-buying-right-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2319339">To read this article on Zacks.com click here.</a>

Here's Why Old National Stock is Worth Buying Right Now

Morgan Stanley analyst Manan Gosalia maintains Commerce Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBSH#NASDAQ">CBSH</a>) with a Equal-Weight and raises the price target from $58 to $66.

Morgan Stanley Maintains Equal-Weight on Commerce Bancshares, Raises Price Target to $66

Ratings for Commerce Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBSH#NASDAQ">CBSH</a>) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Commerce Bancshares, presenting an average target of $60.5, a high estimate of $62.00, and a low estimate of $58.00. This current average reflects an increase of 7.56% from the previous average price target of $56.25. 
<img src="https://www.benzinga.com/files/images/story/2024/1721671263_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
A clear picture of Commerce Bancshares's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$58.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Steven Shaw</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$62.00</td>
<td>$52.00</td>
</tr>
<tr>
<td>Ken Usdin</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Hold</td>
<td>$62.00</td>
<td>$60.00</td>
</tr>
<tr>
<td>Christopher Mcgratty</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$60.00</td>
<td>$58.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Commerce Bancshares. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Commerce Bancshares compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Commerce Bancshares's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
To gain a panoramic view of Commerce Bancshares's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/CBSH/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Commerce Bancshares analyst ratings.</a>
<h2>Discovering Commerce Bancshares: A Closer Look</h2>
Commerce Bancshares Inc. is a $22 billion regional bank that provides a diversified line of financial services, including business and personal banking, wealth management, financial planning, and investments through its affiliated companies. Commerce Bank operates in more than 200 locations in the central United States. Commerce Bancshares also has operating subsidiaries involved in mortgage banking, leasing, credit-related insurance, venture capital, and real estate activities.
<h3>Commerce Bancshares: Financial Performance Dissected</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Over the 3 months period, Commerce Bancshares showcased positive performance, achieving a revenue growth rate of 5.07% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Financials sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 33.41%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Commerce Bancshares's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 4.59%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.46%, the company showcases effective utilization of assets.
Debt Management: With a below-average debt-to-equity ratio of 0.0, Commerce Bancshares adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Analyst Ratings: Simplified</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Unveiling 4 Analyst Insights On Commerce Bancshares

Morgan Stanley analyst Manan Gosalia maintains Commerce Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBSH#NASDAQ">CBSH</a>) with a Equal-Weight and raises the price target from $55 to $58.

Morgan Stanley Maintains Equal-Weight on Commerce Bancshares, Raises Price Target to $58

Wells Fargo analyst Steven Shaw maintains Commerce Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBSH#NASDAQ">CBSH</a>) with a Equal-Weight and raises the price target from $52 to $62.

Wells Fargo Maintains Equal-Weight on Commerce Bancshares, Raises Price Target to $62

Shares of Commerce Bancshares Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cbsh#NASDAQ">CBSH</a>) gained 3% following the release of its second-quarter 2024 results. Quarterly earnings per share of $1.07 surpassed the Zacks Consensus Estimate of 90 cents. Also, the bottom line increased 10.3% from the prior-year quarter.
Results benefited from a rise in net interest income (NII) and non-interest income. Also, lower provisions were a tailwind. The company recorded an increase in the capital ratios in the quarter. However, an increase in expenses hurt the results to some extent.
Net income attributable to common shareholders was $139.6 million, up 9.2% year over year. Our estimate for the metric was $110.2 million.
<h3>Revenues Improve, Expenses Rise</h3>
Total revenues were $414.5 million, up 4.4% year over year. The top line also beat the Zacks Consensus Estimate of $402.4 million.
NII was $262.2 million, up 5.1% year over year. Our estimate for NII was $252 million.
Net yield on interest-earning assets expanded 43 basis points (bps) from the prior-year quarter to 3.55%.
Non-interest income was $152.2 million, up 3.1% year over year. The rise was driven by an increase in almost all fee income components, except for bank card transaction fees, consumer brokerage services fees and other income. Our estimate for non-interest income was $144.7 million.
Non-interest expenses increased 2% year over year to $232.2 million. The rise was due to an increase in all cost components, except for net occupancy costs, deposit insurance costs and marketing expenses. We had projected expenses of $249.2 million.
Net investment securities gain was $3.23 million, down 4.7% from the prior-year quarter.
The efficiency ratio declined to 55.95% from 57.22% in the year-ago quarter. A fall in the efficiency ratio indicates an improvement in profitability.
As of Jun 30, 2024, total loans were $17.2 billion, down marginally from the prior-quarter end. Total deposits as of the same date were $24.3 billion, down marginally from the end of the previous quarter. Our estimates for total loans and deposits were $17.1 billion and $25.1 billion, respectively.
<h3>Asset Quality: Mixed Bag</h3>
Provision for credit losses was $5.5 million, which decreased 15.5% from the prior-year quarter. Our estimate for the metric was $7.2 million. Allowance for credit losses on loans to total loans was 0.92%, decreasing 2 bps year over year.
However, non-accrual loans to total loans were 0.11%, up 7 bps from the prior-year quarter. The ratio of annualized net loan charge-offs to total average loans was 0.23%, up from 0.16% in the year-earlier quarter.
<h3>Capital Ratios Improve, Profitability Ratios Mixed</h3>
As of Jun 30, 2024, the Tier I leverage ratio was 12.13%, up from 10.46% in the year-ago quarter. Tangible common equity to tangible assets ratio increased to 9.82% from the prior-year quarter&#39;s 7.70%.
At the end of the second quarter, the return on total average assets was 1.86%, up from the year-ago period&#39;s 1.56%. Return on average equity was 18.52% compared with 18.81% in the prior-year quarter.
<h3>Share Repurchase Update</h3>
In the reported quarter, the company repurchased 0.69 million shares at an average price of $55.21.
<h3>Our Take</h3>
Commerce Bancshares&#39; revenues are expected to be driven by decent loan demand, high interest rates and its balance sheet repositioning strategy. However, rising expenses remain a near-term headwind.
<div class="chart_embed">
<h3>Commerce Bancshares, Inc. Price, Consensus and EPS Surprise</h3>
<img alt="Commerce Bancshares, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/30/1721393543.png" style="height:265px; width:577px" title="" />
Commerce Bancshares, Inc. price-consensus-eps-surprise-chart | Commerce Bancshares, Inc. Quote
</div>
Currently, Commerce Bancshares carries a Zacks Rank #2 (Buy).
<h3>Performance of Other Banks</h3>
Bank OZK&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ozk#NASDAQ">OZK</a>) second-quarter 2024 earnings per share of $1.52 surpassed the Zacks Consensus Estimate by a penny. The bottom line increased 3.4% from the prior-year quarter.
OZK&#39;s results benefited from a rise in NII, driven by higher rates, and improvements in loans and deposit balances. However, increases in expenses and provision for credit losses, rising funding costs, and lower non-interest income were the undermining factors.
WaFd, Inc.&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wafd#NASDAQ">WAFD</a>) third-quarter fiscal 2024 (ended Jun 30) adjusted earnings of 76 cents per share handily surpassed the Zacks Consensus Estimate of 59 cents. Also, the bottom line rose 4.1% sequentially.
WAFD&#39;s results reflected a rise in NII and other income, which aided the top line. Also, higher loan balances and lower provisions were other positives. However, a rise in expenses and a slight decline in the deposit balance acted as spoilsports.
<a href="https://www.zacks.com/stock/news/2305531/commerce-bancshares-cbsh-up-on-q2-earnings-beat-revenue-growth?cid=CS-BENZ-FT-analyst_blog|earnings_article-2305531">To read this article on Zacks.com click here.</a>

WAFD

Commerce Bancshares Up on Q2 Earnings Beat, Revenue Growth

Commerce Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBSH#NASDAQ">CBSH</a>) reported quarterly earnings of $1.07 per share. This is 10.31 percent increase over earnings of $0.97 per share from the same period last year. The company reported quarterly sales of $414.49 million which beat the analyst consensus estimate of $406.86 million by 1.88 percent. This is a 4.37 percent increase over sales of $397.14 million the same period last year.

Commerce Bancshares Q2 EPS $1.07 Beats $0.95 Estimate, Sales $414.49M Beat $406.86M Estimate

WaFd, Inc.&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wafd#NASDAQ">WAFD</a>) third-quarter fiscal 2024 (ended Jun 30) adjusted earnings of 76 cents per share handily surpassed the Zacks Consensus Estimate of 59 cents. Also, the bottom line rose 4.1% sequentially.
The quarter marked the first full quarter after the completion of the acquisition of Luther Burbank Corporation (LBC).
The results reflected a rise in net interest income (NII) and other income, which aided the top line. Also, higher loan balances and lower provisions were other positives. However, a rise in expenses and a slight decline in the deposit balance acted as spoilsports.
Results in the reported quarter excluded merger-related costs and certain non-operating expenses. After considering those, net income available to common shareholders (GAAP basis) was $60.9 million or 75 cents per share, significantly up from $12.2 million or 17 cents per share in the prior quarter.
<h3>Revenues Rise, Expenses Up</h3>
Adjusted net revenues were $193.4 million, rising 11.2% from the prior quarter. Also, the top line surpassed the Zacks Consensus Estimate of $180.6 million.
NII came in at $177.2 million, growing 11.7% sequentially. The net interest margin was 2.56%, contracting 17 basis points (bps). Our estimates for NII and NIM were $166.8 million and 2.74%, respectively.
The total adjusted other income of $16.2 million rose 5.9%. Our estimate for the metric was $14.5 million.
Total adjusted other expenses were $107.8 million, up 5.9%. The rise was due to an increase in all the components. Our estimate for the metric was $114.8 million. During the reported quarter, WaFd recorded $2.3 million of merger-related expenses for the LBC deal.
The company&#39;s adjusted efficiency ratio was 55.7%, down from 58.5% in the prior quarter. A fall in the efficiency ratio reflects improved profitability.
As of Jun 30, 2024, net loans receivable were $20.9 billion, growing marginally from the prior quarter. During the quarter, the company sold $2.8 billion of acquired multifamily loans.
Total customer deposits were $21.2 billion, recording a slight fall.&nbsp;
At the end of the fiscal third quarter, the adjusted return on average common equity was 9.36%, up from 8.74% at the end of the prior quarter. Adjusted return on average assets was 0.88%, stable on a sequential basis.
<h3>Credit Quality: A Mixed Bag</h3>
As of Jun 30, 2024, allowance for credit losses (including reserve for unfunded commitments) was 1% of gross loans outstanding, stable from the prior quarter end.
In the reported quarter, the provision for credit losses was $1.5 million compared with $16 million provisions in the previous quarter.
The ratio of non-performing assets to total assets was 0.24%, up 1 bp.
<h3>Share Repurchase Update</h3>
During the quarter, WAFD repurchased 0.36 million shares at an average price of $26.63 per share.
In May, the company increased the buyback authorization by 10 million shares. As of Jun 30, 2024, approximately 11.5 million shares remained available under the authorization.
<h3>Our Viewpoint</h3>
Decent loan growth, higher interest rates and a robust balance sheet are likely to continue aiding WAFD&#39;s financials. The LBC acquisition expanded the company&#39;s presence in the lucrative California market and will be accretive to earnings in fiscal 2025. However, elevated expenses and an expected economic slowdown are near-term headwinds.
<div class="chart_embed">
<h3>WaFd, Inc. Price, Consensus and EPS Surprise</h3>
<img alt="WaFd, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/00/1721219140.png" style="height:265px; width:577px" title="" />
WaFd, Inc. price-consensus-eps-surprise-chart | WaFd, Inc. Quote
</div>
Currently, WAFD carries a Zacks Rank #3 (Hold).
<h3>Earnings Dates &amp; Expectations of Other Banks</h3>
BankUnited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bku#NYSE">BKU</a>) is scheduled to announce second-quarter 2024 numbers on Jul 18.
Over the past 30 days, the Zacks Consensus Estimate for BKU&#39;s quarterly earnings has been revised 1.5% down to 65 cents, suggesting a 16.7% decline from the prior-year reported number.
Commerce Bancshares (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cbsh#NASDAQ">CBSH</a>) is also set to announce second-quarter 2024 numbers on Jul 18.
Over the past month, the Zacks Consensus Estimate for CBSH&#39;s quarterly earnings has moved 3.4% north to 91 cents. This implies a 6.2% decrease from the prior-year quarter.
<a href="https://www.zacks.com/stock/news/2303592/wafd-s-q3-earnings-beat-estimates-revenues-rise-on-lbc-deal?cid=CS-BENZ-FT-analyst_blog|earnings_article-2303592">To read this article on Zacks.com click here.</a>

WAFD's Q3 Earnings Beat Estimates, Revenues Rise on LBC Deal

Press Releases

Commerce Bancshares, Inc. Declares Cash Dividend on Common Stock

Commerce Bancshares, Inc. Stock Repurchase Program

Commerce Bancshares, Inc. Announces Visa Inc.'s Acceptance of Class B-1 Common Stock and Investment Securities Repositioning

Commerce Bancshares, Inc. Reports Second Quarter Earnings Per Share of $1.07

Commerce Bancshares, Inc. Reports Third Quarter Earnings Per Share of $1.07

Commerce Bancshares, Inc. Declares Stock Dividend and Quarterly Cash Dividend on Common Stock

Commerce Bancshares, Inc. Reports Fourth Quarter Earnings Per Share of $1.01

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