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Commerce Bancshares (CBSH)
NASDAQ:CBSH
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Commerce Bancshares (CBSH) AI Stock Analysis

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CBSH

Commerce Bancshares

(NASDAQ:CBSH)

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Outperform 75 (OpenAI - 5.2)
Rating:75Outperform
Price Target:
$67.00
â–²(13.56% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by solid financial performance—strong margins, improving leverage, and standout TTM free cash flow that closely matches earnings. Technicals add support with an upward trend and healthy (not overheated) momentum. Valuation is reasonable with a modest dividend, while the corporate event is a smaller positive focused on management continuity rather than near-term fundamentals.
Positive Factors
Strong free cash flow
Commerce generates exceptionally strong free cash flow (TTM ~ $1.87B), with FCF roughly matching reported earnings. This persistent cash conversion supports dividend capacity, internal investment, and capital returns, strengthening long-term financial flexibility and earnings quality.
Negative Factors
Modest revenue pullback
A recent TTM revenue decline (-1.7%) interrupts prior multi-year growth trends and could signal pressure on loan growth or fee volumes. If sustained, top-line softness would constrain operating leverage and slow the expansion of net interest income and fee-related earnings over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow
Commerce generates exceptionally strong free cash flow (TTM ~ $1.87B), with FCF roughly matching reported earnings. This persistent cash conversion supports dividend capacity, internal investment, and capital returns, strengthening long-term financial flexibility and earnings quality.
Read all positive factors

Commerce Bancshares (CBSH) vs. SPDR S&P 500 ETF (SPY)

Commerce Bancshares Business Overview & Revenue Model

Company 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,...
How the Company Makes Money
Commerce Bancshares primarily earns revenue through a mix of net interest income and noninterest income generated by its banking and wealth-related services. Net interest income is the spread between interest earned on interest-earning assets (inc...

Commerce Bancshares Financial Statement Overview

Summary
Strong profitability and earnings quality (TTM net margin ~27%, EBIT margin ~35%) with improving leverage (debt-to-equity ~0.56) and healthy ROE (~14–16%). Cash generation is a major positive (TTM FCF ~$1.87B; FCF to net income ~0.96), though the slight TTM revenue decline (-1.7%) and cash-flow volatility versus prior years temper consistency.
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
83
Very Positive
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue2.17B2.14B2.09B1.97B1.57B1.44B
Gross Profit1.74B1.71B1.63B1.55B1.48B1.49B
EBITDA831.00M770.03M733.57M669.24M679.23M731.17M
Net Income583.59M566.25M526.33M477.06M488.40M530.76M
Balance Sheet
Total Assets35.27B32.92B32.00B31.70B31.88B36.69B
Cash, Cash Equivalents and Short-Term Investments8.97B9.90B12.51B12.37B13.08B18.73B
Total Debt2.45B3.00B2.93B2.91B2.85B3.04B
Total Liabilities30.89B29.10B28.66B28.74B29.39B33.24B
Stockholders Equity4.36B3.79B3.31B2.94B2.47B3.44B
Cash Flow
Free Cash Flow1.87B592.39M531.73M400.69M494.19M541.01M
Operating Cash Flow1.95B645.14M577.86M488.77M559.38M597.72M
Investing Cash Flow1.18B-462.37M483.79M2.18B242.27M-2.08B
Financing Cash Flow-3.07B-11.04M-372.94M-883.12M-4.20B3.57B

Commerce Bancshares Technical Analysis

Technical Analysis Sentiment
Positive
Last Price59.00
Price Trends
50DMA
56.89
Positive
100DMA
53.60
Positive
200DMA
52.59
Positive
Market Momentum
MACD
0.68
Positive
RSI
54.73
Neutral
STOCH
26.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CBSH, the sentiment is Positive. The current price of 59 is below the 20-day moving average (MA) of 59.11, above the 50-day MA of 56.89, and above the 200-day MA of 52.59, indicating a neutral trend. The MACD of 0.68 indicates Positive momentum. The RSI at 54.73 is Neutral, neither overbought nor oversold. The STOCH value of 26.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CBSH.

Commerce Bancshares Risk Analysis

Commerce Bancshares disclosed 23 risk factors in its most recent earnings report. Commerce Bancshares reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Commerce Bancshares Peers Comparison

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
78
Outperform
$15.90B12.867.58%1.44%66.97%-3.45%
78
Outperform
$11.19B11.8215.44%1.75%3.80%43.71%
76
Outperform
$8.58B13.2710.84%1.73%1.36%27.32%
75
Outperform
$8.64B14.4214.39%1.84%6.89%3.32%
68
Neutral
$18.00B11.429.92%3.81%9.73%1.22%
67
Neutral
$10.34B15.6815.04%2.45%1.94%13.72%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
CBSH
Commerce Bancshares
59.08
2.81
4.99%
BOKF
Bok Financial
143.80
45.14
45.75%
CFR
Cullen/Frost Bankers
164.50
46.14
38.98%
PNFP
Pinnacle Financial Partners
104.68
16.94
19.30%
BPOP
Popular
174.04
62.04
55.39%

Commerce Bancshares Corporate Events

Business Operations and StrategyExecutive/Board Changes
Commerce Bancshares Tightens Executive Retention and Succession Plan
Positive
Jul 6, 2026
On July 1, 2026, Commerce Bancshares’ board compensation committee approved special time-vested restricted stock unit grants for Executive Vice President Kevin G. Barth and Executive Vice President and CFO Charles G. Kim, as part of the comp...
Business Operations and StrategyFinancial Disclosures
Commerce Bancshares Realigns Securities Portfolio After Visa Gain
Neutral
May 12, 2026
Commerce Bancshares, Inc. said it received Visa Inc.’s acceptance of its tender of 411,723 shares of Visa Class B-2 common stock on May 8, 2026, in exchange for Visa Class B-3 and Class C shares, and marked the new Visa Class C stock to fair...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 06, 2026