COMMERCE BANCSHARES, INC.
At today's price, COMMERCE BANCSHARES, INC. (CBSH) is priced for 14.5% return on equity. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
• Commerce Bancshares is a conservatively run Midwest bank built on three legs: commercial banking (46% of the business), retail (34%), and a wealth-management arm (20%) that adds fee income most regional banks lack. • The bank earns a return on equity around 13% to 15% with low credit losses, and the price reflects that quality: the stock trades near 1.9 times book value, so the bet is durability of the above-average return. • The recent FineMark acquisition deepened the wealth franchise (addin
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452 institutional managers reported holding CBSH in 13F filings for the quarter ended 2026-03-31. Together they hold about 69% of the company; the top 10 hold 43%. 64 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 7.0M shares were sold short as of the 2026-06-15 count, about 5% of shares outstanding (5.3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
It pays a dividend, and has paid one every year in our records (17 and counting); the current rate is $1.05 a share annually. Cash returned over the past three years: $404.44M in dividends and $504.68M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at CBSH over the trailing three years: 2023: 3 buys totaling $751k; 2026: 1 buy totaling $119k. 28 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
CBSH's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-05 | +3.1% | -10.2% |
| 2023-11-07 | -5.9% | +15.7% |
| 2024-02-23 | +0.1% | +6.9% |
| 2024-05-09 | +1.5% | +0.7% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
CBSH's latest 8-K filings: 2026-07-16 (items 2.02, 9.01); 2026-07-06 (items 5.02); 2026-05-12 (items 8.01); 2026-05-07 (items 5.02); 2026-04-28 (items 5.02, 5.07, 8.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 29, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.