Commerce Bancshares Hit Consensus Estimates

In a report by Keefe Bruyette & Woods, Commerce Bancshares CBSH reported 3Q10 results of $0.67 per share, in-line with the Street, however, below KBW's estimate by $0.05 per share. The quarter was characterized by NIM pressure and a 15% q/q decline in deposit fees. Credit trends, reserves, and capital all remain solid. KBW is lowering estimates and price target based primarily on lower NIM expectations. KBW has a price target of $37 on CBSH CBSH is trading lower at $36.20