Zacks Investment Research·Jun 26, 2026
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Commerce Bancshares, Inc.(CBSH)Earnings, Financials & Key Ratios
CBSH•NASDAQ•Banking & Credit
$58.84
14.4× P/E·Price updated Jul 7, 2026
AboutCommerce 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: Consumer, Commercial, and Wealth. The Consumer 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; 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 also offers private equity investment, securities brokerage, insurance agency, specialty lending, and leasing services, as well as online and mobile banking services. It operates through a network of 287 locations in Missouri, Kansas, Illinois, Oklahoma, and Colorado, as well as commercial offices. Commerce Bancshares, Inc. was founded in 1865 and is headquartered in Kansas City, Missouri.Show more
- Net Interest Income$1.11B+6.9%
- Total Revenue$2.14B+2.2%
- Net Income$566M+7.6%
- Return on Equity15.85%-5.2%
- Net Interest Margin3.38%+3.9%
- Efficiency Ratio45.79%+0.8%
- ROA1.74%+5.6%
- Equity / Assets11.59%+11.3%
- Book Value per Share27.46+10.8%
CBSH Price & Volume
Commerce Bancshares, Inc. (CBSH) stock price & volume — 10-year historical chart
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Resilient Fee Income Offsets Securities Portfolio Volatility
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Expanding
Profitability:Strong
Financial:Fortress
Cash Flow:Robust
Primary Risk:Regulatory interchange fee pressure
Key Thesis Takeaways
- Commerce Bancshares demonstrates a robust organic growth profile, evidenced by an 11.4% year-over-year increase in net interest income as of 2026Q1.
- While the bank maintains a disciplined efficiency ratio between 44.2% and 49.8%, investors should monitor the significant contraction of the investment securities portfolio from $26.6 billion in 2025Q2 to $8.6 billion in 2026Q1, which may indicate underlying duration management challenges.
- The firm's reliance on non-interest income, which consistently contributes over 30% of total revenue, provides a critical buffer against regional economic headwinds.
Verdict Logic
while the bank exhibits strong operational discipline with an efficiency ratio of 49.8% in 2026Q1, the significant volatility in the $8.6 billion investment securities portfolio suggests potential hidden risks that warrant a cautious valuation approach.
CBSH Growth Metrics
Commerce Bancshares, Inc. (CBSH) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years6.72%
5 Years9.02%
3 Years10.96%
TTM-
Profit CAGR
10 Years7.94%
5 Years9.85%
3 Years5.05%
TTM5.69%
EPS CAGR
10 Years9.48%
5 Years11.29%
3 Years5.34%
TTM2.73%
Return on Capital
10 Years15.22%
5 Years15.5%
3 Years13.62%
Last Year2.25%
CBSH Recent Earnings
Commerce Bancshares, Inc. (CBSH) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 12/12 qtrs (100%)●Beat Revenue 11/12 qtrs (92%)
Q2 2026Latest
Apr 21, 2026Metric
Actual
Est
EPS
$0.96+16.5%
$0.82
Rev
$476M-0.5%
$478M
Q1 2026
Jan 22, 2026Metric
Actual
Est
EPS
$1.01+2.0%
$0.99
Rev
$449M+1.6%
$442M
Q4 2025
Oct 16, 2025Metric
Actual
Est
EPS
$1.06+1.9%
$1.04
Rev
$449M+0.3%
$448M
Q3 2025
Jul 16, 2025Metric
Actual
Est
EPS
$1.14+9.6%
$1.04
Rev
$446M+2.6%
$434M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 21, 2026 | $0.96vs $0.82+16.5% | $476Mvs $478M-0.5% |
| Q1 2026 | Jan 22, 2026 | $1.01vs $0.99+2.0% | $449Mvs $442M+1.6% |
| Q4 2025 | Oct 16, 2025 | $1.06vs $1.04+1.9% | $449Mvs $448M+0.3% |
| Q3 2025 | Jul 16, 2025 | $1.14vs $1.04+9.6% | $446Mvs $434M+2.6% |
Based on last 12 quarters of dataView full earnings history →
Latest CBSH News
Recent stock market news and headlines for Commerce Bancshares, Inc. (CBSH)
Peers Comparison
Key metrics vs top competitors for Commerce Bancshares, Inc. (CBSH)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $58.84 | $8.58B | 14.42 | 2.23% | 26.46% | 15.85% | 1.84% | |
| $161.45 | $10.89B | 13.97 | 6.66% | 20.11% | 11.93% | — | |
| $146.01 | $11.12B | 15.99 | 68.52% | 19.79% | 11.67% | — | |
| $140.43 | $8.53B | 15.30 | -1.07% | 18.3% | 10.31% | — | |
| $24.23 | $4.63B | 11.65 | 5.03% | 20.93% | 11.45% | — | |
| $76.24 | $3.97B | 14.98 | -3.05% | 22.64% | 11.38% | — |
Compare CBSH vs Peers
Commerce Bancshares, Inc. (CBSH) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
CBSH SEC Filings & Documents
Commerce Bancshares, Inc. (CBSH) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
Jul 6, 2026·SEC
Material company update
May 12, 2026·SEC
Material company update
May 7, 2026·SEC
10-K Annual Reports
210-Q Quarterly Reports
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CBSH Frequently Asked Questions
Commerce Bancshares, Inc. (CBSH) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
How fast is Commerce Bancshares, Inc. growing?
Commerce Bancshares, Inc. (CBSH) grew revenue by 2.2% over the past year. Growth has been modest.
Is CBSH profitable?
Yes, Commerce Bancshares, Inc. (CBSH) is profitable, generating $576.3M in net income for fiscal year 2025 (26.5% net margin).
Dividend & Returns
Does CBSH pay dividends?
Yes, Commerce Bancshares, Inc. (CBSH) pays a dividend with a yield of 1.84%. This makes it attractive for income-focused investors.
What is CBSH's return on equity?
Commerce Bancshares, Inc. (CBSH) has a return on equity (ROE) of 15.8%. This is reasonable for most industries.
Industry Metrics
What is Commerce Bancshares, Inc.'s net interest margin?
Commerce Bancshares, Inc. (CBSH) has a net interest margin (NIM) of 3.4%. This indicates healthy earnings from lending activities.
What is Commerce Bancshares, Inc.'s efficiency ratio?
Commerce Bancshares, Inc. (CBSH) has an efficiency ratio of 45.8%. This is excellent, indicating strong cost control.