Commerce Bancorp Earns 45 Cents a Share

In September, one of our favorite Buy List stocks, Commerce Bancorp (CBH), warned that the narrowing yield curve was hurting its earnings. The company said it was going to earn 45 cents a share, two cents below Wall Street’s forecast. The stock promptly dropped 7%. Today, the company reported that it did indeed earn 45 cents a share. The good news to look at is that deposits are up 27%. The company opened 16 branches in the third quarter, and plans to open 25 to 30 more by year end. It ended the quarter with 342 branches. This is still an excellent stock.

Posted by on October 17th, 2005 at 9:14 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.