Symbols / CBSH Stock $52.03 +1.56% Commerce Bancshares, Inc.

Financial Services • Banks - Regional • United States • NMS
CBSH (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Financial Services
Industry Banks - Regional
CEO Mr. John W. Kemper
Exch · Country NMS · United States
Market Cap 7.60B
Enterprise Value 5.47B
Income 570.90M
Sales 1.78B
FCF (ttm) —
Book/sh 29.47
Cash/sh 32.45
Employees 4,960
Insider 10d —
IPO Mar 17, 1980
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 26.41%
P/E 12.82
Forward P/E 12.02
PEG 2.06
P/S 4.26
P/B 1.77
P/C —
EV/EBITDA —
EV/Sales 3.07
Quick Ratio —
Current Ratio —
Debt/Eq —
LT Debt/Eq —
EPS (ttm) 4.06
EPS next Y 4.33
EPS Growth 2.90%
Revenue Growth 17.30%
EPS Gr Q/Q 7.60%
Rev Gr Q/Q —
Earnings (next) 2026-07-15
Earnings (prior) 2026-04-21
ROA 1.72%
ROE 14.94%
ROIC —
Gross Margin 0.00%
Oper. Margin 42.50%
Profit Margin 32.34%
Shs Outstand 145.98M
Shs Float 133.12M
Insider Own 2.41%
Instit Own 69.99%
Short Float 3.64%
Short Ratio 4.38
Short Interest 5.22M
52W High 63.19
vs 52W High -17.66%
52W Low 46.99
vs 52W Low 10.73%
Beta 0.59
Impl. Vol. 24.95%
Rel Volume 0.86
Avg Volume 1.33M
Volume 1.14M
Target (mean) $58.56
Tgt Median $57.75
Tgt Low $53.00
Tgt High $69.00
# Analysts 8
Recom Hold
Prev Close $51.23
Price $52.03
Change 1.56%
About

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.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$58.56
Mean price target
2. Current target
$52.03
Latest analyst target
3. DCF / Fair value
$60.90
Fallback: EPS × 15 (assumed fair P/E). No FCF data; use with …
Ratings
Current target
$52.03
Low
$53.00
High
$69.00
Mean
$58.56

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-23 main TD Cowen Hold → Hold $54
2026-04-23 main Piper Sandler Neutral → Neutral $59
2026-04-23 main Keefe, Bruyette & Woods Market Perform → Market Perform $56
2026-04-09 main Keefe, Bruyette & Woods Market Perform → Market Perform $54
2026-03-30 main Wells Fargo Equal-Weight → Equal-Weight $53
2026-03-02 main Morgan Stanley Equal-Weight → Equal-Weight $65
2026-01-26 main Piper Sandler Neutral → Neutral $62
2026-01-09 main Piper Sandler Neutral → Neutral $64
2026-01-07 main TD Cowen Hold → Hold $55
2025-10-21 main Wells Fargo Equal-Weight → Equal-Weight $60
2025-10-17 main Piper Sandler Neutral → Neutral $63
2025-10-17 main Keefe, Bruyette & Woods Market Perform → Market Perform $60
2025-10-06 init Hovde Group — → Outperform $70
2025-09-29 main Morgan Stanley Equal-Weight → Equal-Weight $70
2025-09-29 main Wells Fargo Equal-Weight → Equal-Weight $65
2025-09-25 init TD Cowen — → Hold $63
2025-07-21 main Wells Fargo Equal-Weight → Equal-Weight $69
2025-07-17 main Piper Sandler Neutral → Neutral $70
2025-07-10 main Wells Fargo Equal-Weight → Equal-Weight $62
2025-06-24 main B of A Securities Neutral → Neutral $71
News
RSS: Latest CBSH news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-24 KEMPER DAVID W. Officer and Director — 150 $48.09 $7,214
2026-03-24 BARTH KEVIN G Officer — 137 $48.09 $6,589
2026-03-13 DUNN TIMOTHY S. Director — 2,500 $47.71 $119,275
2026-03-10 PETERSEN PAULA S Officer — 250 $0.00 $0
2026-03-05 JAKOVICH KIM L Officer — 949 $51.45 $48,826
2026-03-05 ROWE MARGARET M Officer — 861 $51.68 $44,501
2026-03-02 STEINER PAUL A Officer — 2,415 $0.00 $0
2026-02-27 BASSHAM TERRY D Director — 736 $50.99 $37,529
2026-02-27 SCHNUCK TODD R Director — 809 $50.99 $41,251
2026-02-27 RASSIEUR BENJAMIN F III Director — 735 $50.99 $37,478
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
1,767.80
+6.26%
1,663.62
+4.88%
1,586.16
+5.10%
1,509.23
Operating Revenue
1,767.80
+6.26%
1,663.62
+4.88%
1,586.16
+5.10%
1,509.23
Selling General And Administration
663.19
+2.55%
646.70
+0.77%
641.74
+9.05%
588.46
Selling And Marketing Expense
24.69
+10.45%
22.35
-8.80%
24.51
+2.87%
23.83
General And Administrative Expense
638.50
+2.27%
624.34
+1.15%
617.23
+9.32%
564.63
Salaries And Wages
628.45
+3.39%
607.86
+4.07%
584.06
+5.42%
554.05
Other Gand A
—
—
—
—
Reconciled Depreciation
56.50
+4.48%
54.08
+9.22%
49.51
+5.67%
46.86
Net Income
566.25
+7.58%
526.33
+10.33%
477.06
-2.32%
488.40
Pretax Income
731.84
+7.70%
679.49
+9.64%
619.73
-2.00%
632.38
Net Interest Income
1,111.86
+6.88%
1,040.25
+4.22%
998.13
+5.94%
942.18
Interest Expense
371.87
-13.38%
429.31
+12.04%
383.16
+574.65%
56.79
Interest Income
1,483.72
+0.96%
1,469.56
+6.39%
1,381.29
+38.27%
998.98
Gain On Sale Of Security
3.66
-53.21%
7.82
-47.79%
14.98
-26.92%
20.51
Tax Provision
161.14
+11.06%
145.09
+7.83%
134.55
+1.66%
132.36
Tax Rate For Calcs
0.00
+3.12%
0.00
-2.94%
0.00
+3.29%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
570.70
+6.79%
534.40
+10.15%
485.18
-2.97%
500.02
Net Income From Continuing Operation Net Minority Interest
566.25
+7.58%
526.33
+10.33%
477.06
-2.32%
488.40
Net Income From Continuing And Discontinued Operation
566.25
+7.58%
526.33
+10.33%
477.06
-2.32%
488.40
Net Income Continuous Operations
570.70
+6.79%
534.40
+10.15%
485.18
-2.97%
500.02
Minority Interests
-4.45
+44.88%
-8.07
+0.58%
-8.12
+30.15%
-11.62
Normalized Income
566.25
+7.58%
526.33
+10.33%
477.06
-2.32%
488.40
Net Income Common Stockholders
560.87
+7.57%
521.42
+10.28%
472.82
-2.30%
483.95
Otherunder Preferred Stock Dividend
5.39
+9.61%
4.91
+15.87%
4.24
-4.70%
4.45
Diluted EPS
4.04
+9.61%
3.69
+11.63%
3.30
-0.73%
3.33
Basic EPS
4.04
+9.33%
3.70
+11.92%
3.30
-0.98%
3.33
Basic Average Shares
140.16
-1.60%
142.43
-1.43%
144.49
-1.35%
146.47
Diluted Average Shares
140.16
-1.60%
142.43
-1.43%
144.49
-1.35%
146.47
Diluted NI Availto Com Stockholders
560.87
+7.57%
521.42
+10.28%
472.82
-2.30%
483.96
Average Dilution Earnings
-5.38
-9.63%
-4.91
-15.88%
-4.24
+4.62%
-4.44
Insurance And Claims
10.05
-39.03%
16.48
-50.30%
33.16
+213.36%
10.58
Occupancy And Equipment
75.83
+2.69%
73.84
+0.91%
73.18
+6.87%
68.48
Other Non Interest Expense
191.95
-1.87%
195.61
+8.75%
179.87
+15.27%
156.04
Professional Expense And Contract Services Expense
48.86
+39.28%
35.08
-3.10%
36.20
+1.10%
35.80
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
32,915.09
+2.87%
31,996.63
+0.93%
31,701.06
-0.55%
31,875.93
Cash And Cash Equivalents
3,547.63
+5.18%
3,372.91
+25.75%
2,682.16
+218.68%
841.64
Cash Financial
803.24
+7.33%
748.36
+68.87%
443.15
-2.07%
452.50
Other Short Term Investments
9,095.51
-0.45%
9,136.85
-5.66%
9,684.76
-20.87%
12,238.32
Net PPE
485.70
+2.19%
475.27
+1.33%
469.06
+11.97%
418.91
Gross PPE
1,148.19
+3.61%
1,108.22
+1.61%
1,090.61
+6.19%
1,027.04
Accumulated Depreciation
-662.49
-4.67%
-632.95
-1.83%
-621.55
-2.21%
-608.13
Land And Improvements
86.28
-0.12%
86.38
-2.47%
88.56
-0.87%
89.34
Buildings And Improvements
778.62
+3.75%
750.46
+2.74%
730.45
+8.41%
673.80
Other Properties
283.30
+4.39%
271.38
-0.08%
271.60
+2.92%
263.90
Goodwill And Other Intangible Assets
159.85
-0.20%
160.17
-0.34%
160.72
+4.26%
154.16
Goodwill
146.54
+0.00%
146.54
+0.00%
146.54
+5.48%
138.92
Other Intangible Assets
13.31
-2.35%
13.63
-3.86%
14.18
-6.93%
15.23
Investments And Advances
9,377.29
-0.42%
9,416.72
-4.91%
9,902.96
-20.61%
12,473.70
Long Term Equity Investment
—
—
0.00
-100.00%
1.43
Total Liabilities Net Minority Interest
29,100.32
+1.52%
28,664.15
-0.25%
28,736.83
-2.24%
29,394.35
Long Term Debt And Capital Lease Obligation
12.80
+22753.57%
0.06
-96.01%
1.40
-85.48%
9.67
Long Term Debt
12.80
+22753.57%
0.06
-96.01%
1.40
-85.48%
9.67
Stockholders Equity
3,791.37
+14.55%
3,309.88
+12.42%
2,944.12
+19.42%
2,465.29
Common Stock Equity
3,791.37
+14.55%
3,309.88
+12.42%
2,944.12
+19.42%
2,465.29
Capital Stock
692.94
+2.50%
676.05
+3.16%
655.32
+4.13%
629.32
Common Stock
692.94
+2.50%
676.05
+3.16%
655.32
+4.13%
629.32
Share Issued
138.59
-2.38%
141.97
-1.75%
144.50
-0.83%
145.70
Ordinary Shares Number
137.71
-2.43%
141.15
-1.86%
143.82
-0.81%
145.00
Treasury Shares Number
0.88
+6.45%
0.82
+22.13%
0.67
-3.75%
0.70
Additional Paid In Capital
3,522.29
+3.73%
3,395.64
+7.37%
3,162.62
+7.83%
2,932.96
Retained Earnings
131.83
+189.77%
45.49
-14.46%
53.18
+68.19%
31.62
Gains Losses Not Affecting Retained Earnings
-507.69
+33.10%
-758.91
+14.86%
-891.41
+17.98%
-1,086.86
Treasury Stock
48.00
-0.83%
48.40
+35.96%
35.60
-14.72%
41.74
Minority Interest
23.40
+3.57%
22.59
+12.33%
20.11
+23.50%
16.29
Other Equity Adjustments
-507.69
+33.10%
-758.91
+14.86%
-891.41
+17.98%
-1,086.86
Total Equity Gross Minority Interest
3,814.77
+14.47%
3,332.47
+12.42%
2,964.23
+19.45%
2,481.58
Total Capitalization
3,804.17
+14.93%
3,309.94
+12.37%
2,945.52
+19.01%
2,474.96
Invested Capital
3,804.17
+14.93%
3,309.94
+12.37%
2,945.52
+19.01%
2,474.96
Total Debt
12.80
+22753.57%
0.06
-96.01%
1.40
-85.48%
9.67
Net Tangible Assets
3,631.52
+15.30%
3,149.71
+13.16%
2,783.40
+20.43%
2,311.14
Tangible Book Value
3,631.52
+15.30%
3,149.71
+13.16%
2,783.40
+20.43%
2,311.14
Available For Sale Securities
241.70
-0.05%
241.83
+27.70%
189.37
-0.56%
190.43
Cash Cash Equivalents And Federal Funds Sold
4,397.63
+9.92%
4,000.91
+27.53%
3,137.18
+82.80%
1,716.14
Trading Securities
40.08
+5.38%
38.03
+31.93%
28.83
-33.76%
43.52
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
645.14
+11.64%
577.86
+18.23%
488.77
-12.62%
559.38
Cash Flow From Continuing Operating Activities
645.14
+11.64%
577.86
+18.23%
488.77
-12.62%
559.38
Net Income From Continuing Operations
570.70
+6.79%
534.40
+10.15%
485.18
-2.97%
500.02
Depreciation Amortization Depletion
56.50
+4.48%
54.08
+9.22%
49.51
+5.67%
46.86
Depreciation And Amortization
56.50
+4.48%
54.08
+9.22%
49.51
+5.67%
46.86
Other Non Cash Items
-1.84
+86.36%
-13.50
+91.89%
-166.41
-957.03%
-15.74
Stock Based Compensation
17.27
+1.42%
17.03
-0.12%
17.05
+0.34%
17.00
Deferred Tax
11.55
+2055.16%
-0.59
+92.01%
-7.40
-134.07%
21.72
Deferred Income Tax
11.55
+2055.16%
-0.59
+92.01%
-7.40
-134.07%
21.72
Operating Gains Losses
-21.91
+23.43%
-28.61
-329.53%
12.47
+165.57%
-19.01
Gain Loss On Investment Securities
-18.98
+27.80%
-26.29
-294.83%
13.49
+182.51%
-16.35
Change In Working Capital
-24.97
-46.85%
-17.00
-137.58%
45.25
+218.08%
-38.32
Change In Receivables
-11.03
-105.61%
-5.36
+10.42%
-5.99
+78.95%
-28.44
Changes In Account Receivables
-11.03
-105.61%
-5.36
+10.42%
-5.99
+78.95%
-28.44
Change In Payables And Accrued Expense
-13.94
-19.78%
-11.64
-122.72%
51.24
+618.48%
-9.88
Change In Payable
-13.94
-19.78%
-11.64
-122.72%
51.24
+618.48%
-9.88
Change In Account Payable
8.68
+136.39%
-23.86
-151.14%
46.65
+1427.50%
3.05
Investing Cash Flow
-462.37
-195.57%
483.79
-77.85%
2,183.83
+801.40%
242.27
Cash Flow From Continuing Investing Activities
-462.37
-195.57%
483.79
-77.85%
2,183.83
+801.40%
242.27
Net PPE Purchase And Sale
-52.65
-41.37%
-37.24
+55.51%
-83.72
-34.58%
-62.21
Purchase Of PPE
-52.75
-14.34%
-46.13
+47.62%
-88.07
-35.10%
-65.19
Sale Of PPE
0.10
-98.88%
8.89
+104.02%
4.36
+46.00%
2.98
Capital Expenditure
-52.75
-14.34%
-46.13
+47.62%
-88.07
-35.10%
-65.19
Net Investment Purchase And Sale
409.30
-45.48%
750.70
-73.48%
2,831.22
+335.32%
650.37
Purchase Of Investment
-1,451.27
+45.81%
-2,678.00
-987.35%
-246.29
+88.53%
-2,147.86
Sale Of Investment
1,860.57
-45.74%
3,428.70
+11.41%
3,077.50
+9.98%
2,798.23
Net Business Purchase And Sale
0.00
0.00
+100.00%
-6.37
0.00
Purchase Of Business
0.00
0.00
+100.00%
-6.37
0.00
Gain Loss On Sale Of Business
—
—
—
—
Financing Cash Flow
-11.04
+97.04%
-372.94
+57.77%
-883.12
+78.98%
-4,200.81
Cash Flow From Continuing Financing Activities
-11.04
+97.04%
-372.94
+57.77%
-883.12
+78.98%
-4,200.81
Net Issuance Payments Of Debt
12.74
+1045.25%
-1.35
+83.70%
-8.27
-186.29%
-2.89
Issuance Of Debt
0.00
0.00
-100.00%
2,250.00
0.00
Repayment Of Debt
0.00
0.00
+100.00%
-2,250.00
0.00
Net Long Term Debt Issuance
12.74
+1045.25%
-1.35
+83.70%
-8.27
-186.29%
-2.89
Short Term Debt Issuance
0.00
0.00
-100.00%
2,250.00
0.00
Short Term Debt Payments
0.00
0.00
+100.00%
-2,250.00
0.00
Net Short Term Debt Issuance
0.00
0.00
0.00
0.00
Net Common Stock Issuance
-207.57
-21.76%
-170.47
-123.22%
-76.37
+59.08%
-186.62
Common Stock Payments
-207.57
-21.76%
-170.47
-123.22%
-76.37
+59.08%
-186.62
Common Stock Dividend Paid
-150.24
-3.55%
-145.09
-7.69%
-134.73
-5.70%
-127.47
Cash Dividends Paid
-150.24
-3.55%
-145.09
-7.69%
-134.73
-5.70%
-127.47
Repurchase Of Capital Stock
-207.57
-21.76%
-170.47
-123.22%
-76.37
+59.08%
-186.62
Proceeds From Stock Option Exercised
—
—
—
-0.01
Net Other Financing Charges
-0.00
+66.67%
-0.01
-300.00%
-0.00
+62.50%
-0.01
Changes In Cash
171.72
-75.07%
688.71
-61.51%
1,789.48
+152.64%
-3,399.15
Beginning Cash Position
3,375.99
+25.63%
2,687.28
+199.32%
897.80
-79.11%
4,296.95
End Cash Position
3,547.72
+5.09%
3,375.99
+25.63%
2,687.28
+199.32%
897.80
Free Cash Flow
592.39
+11.41%
531.73
+32.70%
400.69
-18.92%
494.19
Interest Paid Supplemental Data
363.18
-19.86%
453.17
+34.67%
336.51
+526.19%
53.74
Income Tax Paid Supplemental Data
162.91
+29.16%
126.13
-3.69%
130.96
+11.93%
117.00
Change In Income Tax Payable
-22.62
-285.22%
12.21
+166.35%
4.59
+135.45%
-12.94
Change In Tax Payable
-22.62
-285.22%
12.21
+166.35%
4.59
+135.45%
-12.94
Dividends Received CFI
0.00
0.00
-100.00%
1.43
+258.50%
0.40
Net Preferred Stock Issuance
—
—
—
0.00
Preferred Stock Dividend Paid
—
—
—
0.00
Preferred Stock Payments
—
—
—
0.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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