Commerce Bancshares (CBSH, Financial) has reported its second-quarter financial results, showcasing several key metrics. The company recorded an annualized net loan charge-off ratio of 0.22%, a slight improvement from the previous quarter's 0.25%. Additionally, the book value per share rose to $27.43, compared to $26.19 in the earlier quarter.
CEO John Kemper highlighted the robust financial performance for the quarter, attributing it to the diversified operating model and the dedicated team at Commerce. The company's results were driven by factors such as loan growth, resilient fee income, low credit costs, and disciplined expense management, all contributing to consistent profit increases over time.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for Commerce Bancshares Inc (CBSH, Financial) is $67.25 with a high estimate of $73.00 and a low estimate of $62.00. The average target implies an upside of 6.24% from the current price of $63.30. More detailed estimate data can be found on the Commerce Bancshares Inc (CBSH) Forecast page.
Based on the consensus recommendation from 7 brokerage firms, Commerce Bancshares Inc's (CBSH, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Commerce Bancshares Inc (CBSH, Financial) in one year is $67.38, suggesting a upside of 6.45% from the current price of $63.3. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Commerce Bancshares Inc (CBSH) Summary page.
