Financial Services · Banks - Regional
Price
$57.79
Market Cap
$8.4B
Employees
4,662
Beta
0.60
Avg Volume
1,242,976
CEO
John W. Kemper
Business Description
Commerce Bancshares, Inc. functions as the parent organization for Commerce Bank, delivering a comprehensive suite of financial products and services. These offerings span retail banking, mortgage services, corporate finance, investment solutions, trust administration, and asset management, catering to both individuals and businesses across the United States. Its operational structure is divided into three principal divisions: Consumer, Commercial, and Wealth Management. The Consumer division focuses on individual clients, providing essential banking services such as deposit accounts and a diverse range of personal loans. These include financing for automobiles, motorcycles, marine vehicles, tractor/trailers, recreational vehicles, fixed-rate and revolving home equity loans, and other personal credit products. This segment also facilitates patient healthcare funding, real estate loans, various indirect consumer financing options, personalized mortgage banking, installment lending, and consumer debit and credit cards. The Commercial segment offers robust support to businesses and institutional clients through corporate lending, equipment leasing, international banking, merchant and commercial card services, and secure securities safekeeping with bond accounting. It also manages specific business products, government deposit accounts, and extensive commercial cash management solutions. Additionally, this segment trades fixed-income securities to correspondent banks, corporate entities, public institutions, municipalities, and individual investors. Within the Wealth Management division, the company delivers traditional trust and estate planning, expert advisory and discretionary investment portfolio management, brokerage services, and exclusive private banking accounts. Beyond these core segments, Commerce Bancshares further offers private equity investment opportunities, securities brokerage, insurance agency functions, specialized lending, and additional leasing services. It also ensures convenient access to banking through its online and mobile platforms. The company maintains a significant physical presence with 287 branch locations distributed across Missouri, Kansas, Illinois, Oklahoma, and Colorado, complemented by several dedicated commercial offices. Established in 1865, Commerce Bancshares, Inc. is headquartered in Kansas City, Missouri.
Business History
Price Overview
Last updated: Jun 27, 2026 10:03am (just now)$57.79
+0.35 (+0.61%)
Day Range
$57.40 – $57.93
52-Week Range
$46.99 – $63.19
50-Day MA
$52.69
200-Day MA
$52.50
Volume
2,129,608.00
Analyst Price Targets
Low
$58.50
Consensus
$58.50
High
$58.50
(17 analysts)
Share Structure
Outstanding
145,777,158.00
Float
132,907,950.00
Free Float
91.2%
High free float
— 91.2% of shares trade freely, ~8.8% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
14.63
Stock Price: $57.79
EPS (Diluted): 4.08
EPS (Diluted): 4.08
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
1.92
Stock Price: $57.79
Total Equity: $3.79B
Shares: 138,900,333
Total Equity: $3.79B
Shares: 138,900,333
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
12.71
Market Cap: $8.42B
Total Debt: $3.00B
Cash: $803.24M
EBITDA: $770.03M
Total Debt: $3.00B
Cash: $803.24M
EBITDA: $770.03M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$9.5B
Market Cap: $8.42B
Total Debt: $3.00B
Cash: $803.24M
Total Debt: $3.00B
Cash: $803.24M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
80.0%
Gross Profit: $1.71B
Revenue: $2.14B
Revenue: $2.14B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
34.2%
Operating Income: $731.84M
Revenue: $2.14B
Revenue: $2.14B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
26.5%
Net Income: $566.25M
Revenue: $2.14B
Revenue: $2.14B
ROE (Profit from shareholder equity)
APINet Income / Total Equity
14.9%
Net Income: $566.25M
Total Equity: $3.79B
Total Equity: $3.79B
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
5.8%
Operating Income: $731.84M
Tax Rate: 22.0%
Equity: $3.79B
Total Debt: $3.00B
Cash: $803.24M
Tax Rate: 22.0%
Equity: $3.79B
Total Debt: $3.00B
Cash: $803.24M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
0.00
Current Assets: $9.90B
Current Liabilities: $0.00
Current Liabilities: $0.00
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.79
Short-Term Debt: $2.99B
Long-Term Debt: $12.80M
Total Debt: $3.00B
Total Equity: $3.79B
Long-Term Debt: $12.80M
Total Debt: $3.00B
Total Equity: $3.79B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$15.40
Revenue: $2.14B
Shares: 138,900,333
Shares: 138,900,333
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$27.30
Total Equity: $3.79B
Shares: 138,900,333
Shares: 138,900,333
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$4.26
Operating CF: $645.14M
CapEx: -$52.75M
Shares: 138,900,333
CapEx: -$52.75M
Shares: 138,900,333
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
2.1%
Last Dividend: N/A
Stock Price: $57.79
Stock Price: $57.79
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $566.25M
Net Income: $566.25M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares CBSH against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 7:18pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.4B | $1.6B | $2.0B | $2.1B | $2.1B |
| Cost of Revenue | -$53.5M | $84.9M | $418.6M | $462.2M | $428.0M |
| Gross Profit | $1.5B | $1.5B | $1.6B | $1.6B | $1.7B |
| Operating Expenses | $805.9M | $848.8M | $931.0M | $951.2M | $979.8M |
| Operating Income | $686.3M | $632.4M | $619.7M | $679.5M | $731.8M |
| Net Income | $530.8M | $488.4M | $477.1M | $526.3M | $566.3M |
| EBITDA | $731.2M | $679.2M | $669.2M | $733.6M | $770.0M |
| EPS | $3.73 | $3.50 | $3.47 | $3.88 | $4.08 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 7:18pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $4.3B | $841.6M | $2.7B | $3.4B | $803.2M |
| Total Current Assets | $18.7B | $13.1B | $12.4B | $12.5B | $9.9B |
| Total Assets | $36.7B | $31.9B | $31.7B | $32.0B | $32.9B |
| Current Liabilities | $32.8B | $29.0B | $28.3B | $28.2B | $0 |
| Long-Term Debt | $12.6M | $9.7M | $1.4M | $56,000 | $12.8M |
| Total Liabilities | $33.2B | $29.4B | $28.7B | $28.7B | $29.1B |
| Total Equity | $3.4B | $2.5B | $2.9B | $3.3B | $3.8B |
| Retained Earnings | $92.5M | $31.6M | $53.2M | $45.5M | $131.8M |
Cash Flow (Annual)
Last updated: Jun 21, 2026 7:18pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $597.7M | $559.4M | $488.8M | $577.9M | $645.1M |
| Capital Expenditure | -$56.7M | -$65.2M | -$88.1M | -$46.1M | -$52.7M |
| Free Cash Flow | $541.0M | $494.2M | $400.7M | $531.7M | $592.4M |
| Acquisitions (net) | $0 | $0 | -$6.4M | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$129.4M | -$186.6M | -$76.4M | -$170.5M | -$207.6M |
| Net Change in Cash | $2.1B | -$3.4B | $1.8B | $688.7M | $171.7M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 10:03am (just now)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$1.8B $1.7B – $1.8B
|
$2.0B $2.0B – $2.0B
|
$2.0B $2.0B – $2.0B
|
$2.1B $2.1B – $2.1B
|
| EBITDA |
$701.3M $696.9M – $705.8M
|
$782.5M $778.5M – $787.5M
|
$804.8M $800.8M – $808.8M
|
$835.4M $834.0M – $836.7M
|
| Net Income |
$570.8M $548.4M – $583.1M
|
$581.8M $562.4M – $581.8M
|
$609.5M $595.5M – $624.4M
|
$649.7M $635.1M – $682.0M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 7:18pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +8.8% | +25.8% | +6.3% | +2.2% |
| Gross Profit Growth | -0.7% | +4.7% | +5.2% | +5.0% |
| Operating Income Growth | -7.9% | -2.0% | +9.6% | +7.7% |
| Net Income Growth | -8.0% | -2.3% | +10.3% | +7.6% |
| EBITDA Growth | -7.1% | -1.5% | +9.6% | +5.0% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-23 | KEMPER DAVID W | A-Award | 131.00 | $55.29 | $7,243 |
| 2026-06-23 | BARTH KEVIN G | A-Award | 120.00 | $55.29 | $6,635 |
| 2026-06-16 | FOWLER JUNE MCALLISTER | S-Sale | 200.00 | $55.04 | $11,007 |
| 2026-05-29 | TAYLOR CHRISTINE B | A-Award | 646.00 | $52.22 | $33,734 |
| 2026-05-29 | Schnuck Todd R | A-Award | 790.00 | $52.22 | $41,254 |
| 2026-05-29 | MACIA ALAINA G | A-Award | 646.00 | $52.22 | $33,734 |
| 2026-05-29 | FOWLER JUNE MCALLISTER | A-Award | 646.00 | $52.22 | $33,734 |
| 2026-05-29 | DUNN TIMOTHY S | A-Award | 718.00 | $52.22 | $37,494 |
| 2026-05-29 | Daniel Karen L | A-Award | 886.00 | $52.22 | $46,267 |
| 2026-05-29 | CHAPMAN WILLIAM KYLE | A-Award | 646.00 | $52.22 | $33,734 |
| 2026-05-29 | BRAUER BLACKFORD F | A-Award | 718.00 | $52.22 | $37,494 |
| 2026-05-29 | BASSHAM TERRY D | A-Award | 718.00 | $52.22 | $37,494 |
| 2026-05-15 | BRANDJORD STEVEN A | 0.00 | $0.00 | $0 | |
| 2026-05-15 | BRANDJORD STEVEN A | 0.00 | $0.00 | $0 | |
| 2021-03-03 | BRANDJORD STEVEN A | 342.00 | $46.08 | $15,759 | |
| 2022-03-04 | BRANDJORD STEVEN A | 180.00 | $58.54 | $10,537 | |
| 2023-03-03 | BRANDJORD STEVEN A | 256.00 | $58.82 | $15,059 | |
| 2024-03-02 | BRANDJORD STEVEN A | 228.00 | $56.46 | $12,873 | |
| 2025-03-01 | BRANDJORD STEVEN A | 275.00 | $47.09 | $12,951 | |
| 2026-03-03 | BRANDJORD STEVEN A | 199.00 | $61.73 | $12,285 |
Dividend History (Last 20)
Last updated: Jun 21, 2026 7:18pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-06-05 | $0.28 | 2026-04-24 | 2026-06-05 | 2026-06-23 |
| 2026-03-06 | $0.28 | 2026-02-06 | 2026-03-06 | 2026-03-24 |
| 2025-12-02 | $0.28 | 2025-10-31 | 2025-12-02 | 2025-12-15 |
| 2025-09-05 | $0.26 | 2025-07-25 | 2025-09-05 | 2025-09-23 |
| 2025-06-06 | $0.28 | 2025-04-25 | 2025-06-06 | 2025-06-24 |
| 2025-03-07 | $0.28 | 2025-01-31 | 2025-03-07 | 2025-03-25 |
| 2024-12-03 | $0.24 | 2024-10-25 | 2024-12-03 | 2024-12-17 |
| 2024-09-05 | $0.27 | 2024-07-26 | 2024-09-05 | 2024-09-23 |
| 2024-06-05 | $0.27 | 2024-04-17 | 2024-06-05 | 2024-06-18 |
| 2024-03-06 | $0.27 | 2024-02-02 | 2024-03-07 | 2024-03-25 |
| 2023-12-01 | $0.54 | 2023-10-27 | 2023-12-04 | 2023-12-18 |
| 2023-09-05 | $0.27 | 2023-07-28 | 2023-09-06 | 2023-09-25 |
| 2023-06-02 | $0.27 | 2023-04-19 | 2023-06-05 | 2023-06-20 |
| 2023-03-06 | $0.27 | 2023-02-03 | 2023-03-07 | 2023-03-27 |
| 2022-12-01 | $0.27 | 2022-10-28 | 2022-12-02 | 2022-12-16 |
| 2022-09-06 | $0.27 | 2022-08-05 | 2022-09-07 | 2022-09-22 |
| 2022-06-06 | $0.27 | 2022-04-20 | 2022-06-07 | 2022-06-22 |
| 2022-03-07 | $0.27 | 2022-02-04 | 2022-03-08 | 2022-03-23 |
| 2021-12-01 | $0.26 | 2021-11-12 | 2021-12-02 | 2021-12-17 |
| 2021-09-03 | $0.26 | 2021-07-30 | 2021-09-07 | 2021-09-23 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for CBSH — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30