Inside the research

Commerce Bancshares, Inc.

CBSH Research profile · latest available data

Price overview

$56.44

▲ +0.68 (+1.2%)

52w hi$60.05
52w lo$47.02
Vol828.20K
As of25 Sep 2026

The Verdict

Hold

Our score +0.20

Short+0.15
Medium+0.22
Long+0.27

computed 2026-09-27

Key fundamentals

Commerce Bancshares, Inc.

Financial Services · Banks - Regional

Market cap$8.10B
Enterprise value$6.43B
Trailing P/E13.83x
Forward P/E12.32x
P / S (ttm)4.39x
Profit margin31.6%
Return on equity14.7%
Revenue growth+14.2%
Earnings growth+1.2%

Layer Breakdown

LayerRawContribution
Fundamental+0.30
Sector+0.02
Technical+0.11
Earnings+0.00
Sentiment+0.00

macro × 1.00 · 2026-09-27

Business overview

Commerce Bancshares, Inc. operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Retail Banking, Commercial, and Wealth. The Retail Banking segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; retail branch network; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards. The Commercial segment provides corporate lending, leasing, international, merchant and commercial bank card, and securities safekeeping and bond accounting services; and business products, government deposits, and related commercial cash management services, as well as sells fixed income securities to correspondent banks, corporations, public institutions, municipalities, and individuals. The Wealth segment provides traditional trust and estate planning, advisory and discretionary investment portfolio management, and brokerage services, as well as private banking accounts. The company offers private equity investment, securities brokerage, insurance agency, specialty lending, and leasing services, as well as online and mobile banking services. Commerce Bancshares, Inc. was founded in 1865 and is headquartered in Kansas City, Missouri.

United States · www.commercebank.com

Risk Metrics

Beta vs SPX0.70
Corr SPX0.49
Annual vol22.9%
Annual ret+2.9%
Sharpe0.13
Max DD-29.6%

Window: 504 trading days (504 obs)

Analyst Coverage

Mean PT$58.56
High / Low$69.00 / $53.00
Median$57.75
Analysts8
Strong Buy0
Buy1
Hold7
Sell0
Strong Sell0

Recent rating actions

2026-04-23TD Cowen→ Hold
2026-04-23Piper Sandler→ Neutral
2026-04-23Keefe, Bruyette & Woods→ Market Perform
2026-04-09Keefe, Bruyette & Woods→ Market Perform
2026-03-30Wells Fargo→ Equal-Weight
2026-03-02Morgan Stanley→ Equal-Weight

Material Events

DateEvent8-K
2026-07-16Earnings Release, Exhibitsread
2026-07-06Officer / Director Changeread
2026-05-12Other Material Eventread
2026-05-07Officer / Director Changeread
2026-04-28Officer / Director Change, Shareholder Vote…read
2026-04-27Other Material Eventread
2026-04-21Earnings Release, Exhibitsread
2026-03-30Officer / Director Changeread
2026-02-09Officer / Director Changeread
2026-01-22Earnings Release, Exhibitsread
2026-01-02Acquisition / Disposition, Reg FD Disclosure…read
2025-12-03Other Material Event, Exhibitsread

Insider Trades

DateInsiderRoleActionSharesValue
2026-08-04Roller David L.Senior Vice PresidentSell830$50.03K
2026-08-04Roller David L.Senior Vice PresidentDisposal2.32K$139.94K
2026-08-04Roller David L.Senior Vice PresidentWithheld for tax357$21.53K
2026-08-04Roller David L.Senior Vice PresidentOption exercise3.51K$139.93K
2026-07-30Holmes Robert SExecutive Vice PresidentSell5.00K$301.00K
2026-07-29Kemper John WPresident and CEOOption exercise16.10K$642.27K
2026-07-29Kemper John WPresident and CEODisposal6.18K$374.94K
2026-07-29Kemper John WPresident and CEOWithheld for tax2.17K$131.26K
2026-07-29Kemper John WPresident and CEOWithheld for tax1.62K$98.18K
2026-07-29Kemper John WPresident and CEOOption exercise10.29K$374.93K

Flow & Concentration

Insider 180d net-$1.95M
Insider buys / sells0 / 6
Insider biasNeutral
13F holders8
Top-5 share96.4%
HHI2,871 (concentrated)

Top Holders

HolderValueShares
State Street Corp$424.70M7.35M
AQR Capital Management$377.96M6.54M
Citadel Advisors$119.86M2.08M
Capital Research / Capital World$82.32M1.43M
Renaissance Technologies$56.52M978.63K
Millennium Management$25.42M440.25K
Fidelity / FMR LLC$14.71M254.70K
T. Rowe Price Group$7.10K122.91K

As of 2026-06-30

Dividends

Yield (TTM)0.95%
$ / share (TTM)$0.54
5y CAGR+4.1%

Annual dividend per share

2021$0.88
2022$0.92
2023$0.93
2024$0.98
2025$1.05
2026$0.28

SEC Filings

DateFormDoc
2026-08-064view
2026-08-0510-Qview
2026-07-314view
2026-07-304view
2026-07-294view
2026-07-294view
2026-07-178-K/Aview
2026-07-168-Kview
2026-07-064view
2026-07-068-Kview
2026-07-064view
2026-06-254view
2026-06-254view
2026-06-2211-Kview
2026-06-184view

The Long Run

FY 2010–2025 · 16 years

LineLatestCAGRTrend
Net income$477.06M+7.2%
Cash from ops$645.14M-0.3%

Indices

S&P MidCap 400

Recent Sessions

DateOpenHighLowCloseVol
Sep 25$55.93$56.52$55.81$56.44828.20K
Sep 24$55.90$56.11$55.28$55.761.30M
Sep 23$55.49$56.04$55.44$55.59969.80K
Sep 22$56.65$56.88$55.67$55.681.22M
Sep 21$57.38$57.39$56.54$56.551.13M

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