Keefe Bruyette & Woods Comments On Commerce Bancshares Earnings Report

Commerce Bancshares CBSH reported operating results of $0.67 per share, relatively in-line with Keefe Bruyette & Woods forecast and consensus. The quarter was characterized by continued improvement in credit trends including q/q declines in NPAs and NCOs and also higher than expected NIM expansion. KBW has a $37 PT on CBSH and a Market Perform rating CBSH closed Thursday at $40.88