9. Commerce Bancshares
Kansas City- based Commerce Bancshares (CBSH) reported record earnings in 2011, as it witnessed strong growth in core deposits, improving credit quality and higher auto and commercial real estate loans.
Net income amounted to $256.3 million in 2011 compared to $221.7 million in 2010, or an increase of 15.6%.The return on average assets was 1.34% in 2011, up from 1.22% in 2010. The stock, which was among the top performers in the banking sector in 2011, is up about 3% so far in 2012. The bank has about $20 billion in assets and a tangible common equity ratio of 9.72% as of the end of 2011. The stock trades at 14.5 times on-year forward earnings, which explains why most analysts seem more inclined to a hold rating than a buy. Only one analyst currently has a buy rating on the stock, while 11 have a hold rating and 2 have a sell.
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