Commerce Bancshares, Inc.

NasdaqGS:CBSH Stock Report

Market Cap: US$8.5b

Commerce Bancshares Past Earnings Performance

Past criteria checks 3/6

Commerce Bancshares has been growing earnings at an average annual rate of 2.5%, while the Banks industry saw earnings growing at 3.2% annually. Revenues have been growing at an average rate of 4.1% per year. Commerce Bancshares's return on equity is 13.5%, and it has net margins of 32%.

Key information

2.51%

Earnings growth rate

3.95%

EPS growth rate

Banks Industry Growth11.18%
Revenue growth rate4.14%
Return on equity13.51%
Net Margin32.03%
Next Earnings Update16 Jul 2026

Recent past performance updates

Recent updates

Analysis Article • Jun 19

Commerce Bancshares (CBSH) Stock Could Be 30% Below Fair Value After Conference Update

Commerce Bancshares (CBSH) is back in focus after highlighting its performance and outlook at the Morgan Stanley US Financials Conference 2026, following recent revenue and net profit growth, alongside strong operating efficiency metrics. See our latest analysis for Commerce Bancshares. At a share price of $54.73, Commerce Bancshares has seen a 14.79% 90 day share price return and a 5.70% 30 day share price return, while the 1 year total shareholder return has slipped 2.97% and the 3 year...
Seeking Alpha • Apr 11

Commerce Bancshares: Valuation, Not Quality, Is The Problem

Summary Commerce Bancshares remains a 'hold' as valuation remains rich despite operational strength and recent FineMark Holdings acquisition. Key near-term catalyst is Q1 2026 results, with revenue expected to rise materially, driven largely by the FineMark merger. Outstanding asset quality: CBSH boasts a 1.73% return on assets and 14.7% return on equity, surpassing most peers. Cost synergies from FineMark are targeted at $11.9 million annually, but integration costs and dilution temper near-term earnings visibility. Read the full article on Seeking Alpha
Analysis Article • Nov 03

Commerce Bancshares (NASDAQ:CBSH) Is Paying Out A Dividend Of $0.275

Commerce Bancshares, Inc. ( NASDAQ:CBSH ) has announced that it will pay a dividend of $0.275 per share on the 15th of...
Seeking Alpha • Mar 16

Commerce Bancshares: A Solid Business At Too High A Price

Summary Commerce Bancshares, despite its high quality and operational diversity, remains expensive compared to peers, justifying my 'hold' rating. The bank's revenue diversification, with only 63% from net interest income, provides stability and higher profits. Recent financial performance shows increased revenue and profits, but the firm saw a slight drop in deposits and slightly higher debt. I would consider buying if shares drop 20-30%, but for now, maintaining a 'hold' rating is prudent. Read the full article on Seeking Alpha
Seeking Alpha • Dec 01

Commerce Bancshares: Too Rich For My Blood

Summary Commerce Bancshares has seen improvements in deposits and profitability, but the stock price has risen significantly, making it too expensive to upgrade to a 'buy'. The bank's asset quality remains high, with no delinquent or nonperforming office assets, and a significant increase in cash and reduction in debt. Despite rising net interest income and non-interest income, the high price-to-earnings and price-to-book multiples make the stock less attractive compared to peers. The company's strong financial performance and asset quality justify maintaining a 'hold' rating, as the shares are currently too pricey for a 'buy'. Read the full article on Seeking Alpha
Seeking Alpha • Sep 13

Commerce Bancshares: Quality Isn't Coming Cheap

Summary Missouri-based Commerce Bancshares, the holding company for Commerce Bank, has racked up over 50 years of consecutive annual dividend growth, helped by an excellent underlying business. Commerce has an extremely attractive funding profile and, somewhat unusually for a bank of its size, has a relatively diverse revenue mix. Both have helped it generate above-average profitability. At around 15x consensus EPS, Commerce will struggle to generate the 10%-plus annualized returns that most investors look for, albeit performance in line with its historical average looks doable. Read the full article on Seeking Alpha
Seeking Alpha • Jul 02

Commerce Bancshares: An Exceptional Bank That Deserves More Attention

Summary Commerce Bancshares, Inc. is a bank holding company with $32 billion in assets, ranking well in profitability and financial strength compared to peers. The bank's diversified revenue streams, focus on asset management and payments, and low Loan to Deposit ratio contribute to its consistent performance. Despite challenges like high interest rates affecting loan demand, Commerce Bancshares has a strong dividend history and potential for future growth, making it a solid long-term investment option. Read the full article on Seeking Alpha
Seeking Alpha • Apr 04

Commerce Bancshares: A Great Business But Not A Buy Yet

Summary Commerce Bancshares provides a range of financial products and services to individuals and businesses. The bank has a well-diversified loan portfolio and a significant market share in Kansas City and St. Louis. CBSH has shown steady long-term performance and maintains very good capital levels. The current dividend yield is too low and the price too high. That being said, there's a chance it may be worth adding at some point in the future, so you may want to keep an eye on it. Read the full article on Seeking Alpha

Revenue & Expenses Breakdown

How Commerce Bancshares makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NasdaqGS:CBSH Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Mar 261,7825719380
31 Dec 251,7125618920
30 Sep 251,6855568780
30 Jun 251,6725538730
31 Mar 251,6445408600
31 Dec 241,6315218530
30 Sep 241,6164958480
30 Jun 241,5844788570
31 Mar 241,5664668430
31 Dec 231,5514738250
30 Sep 231,5394958010
30 Jun 231,5284977610
31 Mar 231,4984857550
31 Dec 221,4814847810
30 Sep 221,4484677390
30 Jun 221,4474677310
31 Mar 221,4925137150
31 Dec 211,4925267040
30 Sep 211,5015416990
30 Jun 211,4885436900
31 Mar 211,3144206840
31 Dec 201,2103396830
30 Sep 201,1793146810
30 Jun 201,1502966800
31 Mar 201,2413636760
31 Dec 191,2994086670
30 Sep 191,2944116620
30 Jun 191,2904146500
31 Mar 191,2864166430
31 Dec 181,2824206340
30 Sep 181,2804056280
30 Jun 181,2403676210
31 Mar 181,2063366140
31 Dec 171,1753076080
30 Sep 171,1372846040
30 Jun 171,1322786050
31 Mar 171,1222696030
31 Dec 161,0902635890
30 Sep 161,1002555960
30 Jun 161,0832515860
31 Mar 161,0782555780
31 Dec 151,0602515650
30 Sep 151,0572505620

Quality Earnings: CBSH has high quality earnings.

Growing Profit Margin: CBSH's current net profit margins (32%) are lower than last year (32.9%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: CBSH's earnings have grown by 2.5% per year over the past 5 years.

Accelerating Growth: CBSH's earnings growth over the past year (5.7%) exceeds its 5-year average (2.5% per year).

Earnings vs Industry: CBSH earnings growth over the past year (5.7%) did not outperform the Banks industry 23.3%.

Return on Equity

High ROE: CBSH's Return on Equity (13.5%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/06 08:23
End of Day Share Price 2026/07/02 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Commerce Bancshares, Inc. is covered by 22 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Matthew KeatingBarclays
Brandon BermanBofA Global Research
null nullD.A. Davidson & Co.