Commerce Bancshares, Inc. (CBSH) Stock

Commerce Bancshares, Inc. (CBSH) is a Financials stock trading at $58.80 (as of 2026-08-20), with a market capitalization of $8.43B and a trailing P/E of 14.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Commerce Bancshares, Inc. is the bank holding company for Commerce Bank, offering consumer, commercial, and wealth-related banking and financial services in the United States. It operates through Consumer, Commercial, and Wealth segments, providing products such as deposits, consumer and mortgage lending, corporate and commercial banking services, and trust and asset management services for individuals and businesses.

Understand Commerce Bancshares, Inc.: how it makes money

Commerce Bancshares provides retail, mortgage banking, corporate, investment, trust, and asset management products and services in the United States to individuals and businesses, and generates revenue by offering these banking and wealth services through its Consumer, Commercial, and Wealth segments.

Bank earnings quality is driven by (1) credit performance, tracked by Annualized Net Loan Charge-Offs as a Percentage of Average Loans, and (2) the growth and mix of earning assets, tracked by Average Loan Balances.

Business quality (Solid): A focused regional bank with three reportable segments (Consumer, Commercial, Wealth), where investors commonly watch credit losses and loan balances to understand the durability of profitability.

Valuation: At 14× earnings, CBSH trades 10% above the Banking average (13×). Note: one-time items can distort reported P/E.

Bull case

  • Credit loss level is currently low, with Annualized Net Loan Charge-Offs as a Percentage of Average Loans of 0.3%: This supports the idea that current loan underwriting and portfolio performance are not showing elevated loss stress in the latest quarter.
  • Loan scale remains substantial, with Average Loan Balances of 20.3 USD_B: Larger loan balances generally give more opportunity for earning asset generation, depending on pricing and credit performance.

Bear case

  • Credit outcomes are variable over time: If credit conditions worsen, Annualized Net Loan Charge-Offs as a Percentage of Average Loans could rise, pressuring profitability.
  • Earnings depend on maintaining healthy earning-asset performance: Average Loan Balances at 20.3 USD_B highlight the importance of continued loan generation and portfolio stability to sustain income.
Valuation — source: SEC EDGAR (first-party)
Price$58.80
Market Cap$8.43B
P/E Ratio14.5
EV / EBITDA6.7
Price / Book1.92
Price / Sales5.68
FCF Yield14.4%
DCF Value (model)$85.86
DCF Upside vs Price46.0%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$1.48B
Net Margin38.2%
Revenue Growth (YoY)1.0%
EPS Growth (YoY)4.1%
FCF Growth (YoY)11.4%
Valuation vs Sector & Industry
Stock P/E14.5
Sector P/E (Financials)15.1
Industry P/E (Banking)12.9
vs Sector-4.5%
vs Industry11.9%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($768.88M)
Institutional Holders Tracked10
Congressional Trades (recent)6
Company
SectorFinancials
IndustryBanking
CEOJohn W. Kemper
Employees4,662
CountryUS
IPO Date1980-03-17

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CBSH earnings history · CBSH institutional & insider holders · CBSH KPIs & operating metrics · CBSH financials · CBSH investor presentations & press releases · CBSH SEC filings · CBSH peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.