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 |
| Vol | 828.20K |
| As of | 25 Sep 2026 |
The Verdict
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/E | 13.83x |
| Forward P/E | 12.32x |
| P / S (ttm) | 4.39x |
| Profit margin | 31.6% |
| Return on equity | 14.7% |
| Revenue growth | +14.2% |
| Earnings growth | +1.2% |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| 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.
Risk Metrics
| Beta vs SPX | 0.70 |
|---|---|
| Corr SPX | 0.49 |
| Annual vol | 22.9% |
| Annual ret | +2.9% |
| Sharpe | 0.13 |
| 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 |
| Analysts | 8 |
| Strong Buy | 0 | |
|---|---|---|
| Buy | 1 | |
| Hold | 7 | |
| Sell | 0 | |
| Strong Sell | 0 |
Recent rating actions
| 2026-04-23 | TD Cowen | → Hold |
| 2026-04-23 | Piper Sandler | → Neutral |
| 2026-04-23 | Keefe, Bruyette & Woods | → Market Perform |
| 2026-04-09 | Keefe, Bruyette & Woods | → Market Perform |
| 2026-03-30 | Wells Fargo | → Equal-Weight |
| 2026-03-02 | Morgan Stanley | → Equal-Weight |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-07-16 | Earnings Release, Exhibits | read |
| 2026-07-06 | Officer / Director Change | read |
| 2026-05-12 | Other Material Event | read |
| 2026-05-07 | Officer / Director Change | read |
| 2026-04-28 | Officer / Director Change, Shareholder Vote… | read |
| 2026-04-27 | Other Material Event | read |
| 2026-04-21 | Earnings Release, Exhibits | read |
| 2026-03-30 | Officer / Director Change | read |
| 2026-02-09 | Officer / Director Change | read |
| 2026-01-22 | Earnings Release, Exhibits | read |
| 2026-01-02 | Acquisition / Disposition, Reg FD Disclosure… | read |
| 2025-12-03 | Other Material Event, Exhibits | read |
Insider Trades
| Date | Insider | Role | Action | Shares | Value |
|---|---|---|---|---|---|
| 2026-08-04 | Roller David L. | Senior Vice President | Sell | 830 | $50.03K |
| 2026-08-04 | Roller David L. | Senior Vice President | Disposal | 2.32K | $139.94K |
| 2026-08-04 | Roller David L. | Senior Vice President | Withheld for tax | 357 | $21.53K |
| 2026-08-04 | Roller David L. | Senior Vice President | Option exercise | 3.51K | $139.93K |
| 2026-07-30 | Holmes Robert S | Executive Vice President | Sell | 5.00K | $301.00K |
| 2026-07-29 | Kemper John W | President and CEO | Option exercise | 16.10K | $642.27K |
| 2026-07-29 | Kemper John W | President and CEO | Disposal | 6.18K | $374.94K |
| 2026-07-29 | Kemper John W | President and CEO | Withheld for tax | 2.17K | $131.26K |
| 2026-07-29 | Kemper John W | President and CEO | Withheld for tax | 1.62K | $98.18K |
| 2026-07-29 | Kemper John W | President and CEO | Option exercise | 10.29K | $374.93K |
Flow & Concentration
| Insider 180d net | -$1.95M |
|---|---|
| Insider buys / sells | 0 / 6 |
| Insider bias | Neutral |
| 13F holders | 8 |
| Top-5 share | 96.4% |
| HHI | 2,871 (concentrated) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| State Street Corp | $424.70M | 7.35M |
| AQR Capital Management | $377.96M | 6.54M |
| Citadel Advisors | $119.86M | 2.08M |
| Capital Research / Capital World | $82.32M | 1.43M |
| Renaissance Technologies | $56.52M | 978.63K |
| Millennium Management | $25.42M | 440.25K |
| Fidelity / FMR LLC | $14.71M | 254.70K |
| T. Rowe Price Group | $7.10K | 122.91K |
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
The Long Run
FY 2010–2025 · 16 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Net income | $477.06M | +7.2% | |
| Cash from ops | $645.14M | -0.3% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $55.93 | $56.52 | $55.81 | $56.44 | 828.20K |
| Sep 24 | $55.90 | $56.11 | $55.28 | $55.76 | 1.30M |
| Sep 23 | $55.49 | $56.04 | $55.44 | $55.59 | 969.80K |
| Sep 22 | $56.65 | $56.88 | $55.67 | $55.68 | 1.22M |
| Sep 21 | $57.38 | $57.39 | $56.54 | $56.55 | 1.13M |
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