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Commerce Bancshares Hit Consensus Estimates

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In a report by Keefe Bruyette & Woods, Commerce Bancshares (NASDAQ: 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

Posted-In: Keefe Bruyette & WoodsAnalyst Color Analyst Ratings

 

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