Commerce Bancshares, Inc.
CBSHFinancial Services · Stock · quarterly payer
Forward Yield
1.93%
Annual Dividend
$1.10
Payout Ratio
27%
5-Yr Growth
4.1%
Ex-Date
Sep 4, 2026
Frequency
Quarterly
Summary
As of September 2026, Commerce Bancshares, Inc. (CBSH) yields 1.93% ($1.10 per share annually), with a blended fair-value estimate of $66.15 — +16% upside, so it screens as undervalued. Dividend safety grade: A (96/100). 8 years of dividend growth.
Is CBSH a good dividend stock?
YesCommerce Bancshares, Inc. (CBSH) pays a quarterly dividend yielding 1.93% ($1.10/yr), with 8 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- Never cut its dividend on record
- Comfortable payout ratio (27%)
- Top-tier dividend safety score
Risks
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 1.93%
- Payout Ratio
- 27%
- Annual Dividend
- $1.10
- 5-Yr Avg Growth
- 4.1%
- Ex-Dividend Date
- Sep 4, 2026
- Years of Growth
- 8
- Frequency
- quarterly
- Beta
- 0.58
- Market Cap
- $8.2B
- P/E Ratio
- 14.0
- 5-Yr Total Return
- -2%
- 52-Week Range
- $46.99 – $60.92
- Dividend Safety
- A · 96/100
- Ever Cut?
- No
Frequently Asked Questions
CBSH Price — Last 12 Months
Daily close
Price Return
1 Year
+14%
3 Years
+51%
5 Years
-2%
52-Week Range
$46.99 – $60.92
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is CBSH worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Commerce Bancshares, Inc. is $66.15 per share, versus a market price of $57.09. That implies 16% of upside — a margin of safety of about 14%.
Fair Value
$66.15
Current Price
$57.09
Upside
+16%
Margin of Safety
14%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model 4.1% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.2% discount rate (CAPM), 4.1% stage-1 growth, 2.5% terminal growth, $4.08 EPS, $1.10 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
CBSH Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 4, 2026 | — | $0.2750 | regular |
| Jun 5, 2026 | — | $0.2750 | regular |
| Mar 6, 2026 | — | $0.2750 | regular |
| Dec 2, 2025 | — | $0.2620 | regular |
| Sep 5, 2025 | — | $0.2619 | regular |
| Jun 6, 2025 | — | $0.2619 | regular |
| Mar 7, 2025 | — | $0.2619 | regular |
| Dec 3, 2024 | — | $0.2448 | regular |
| Sep 5, 2024 | — | $0.2449 | regular |
| Jun 5, 2024 | — | $0.2449 | regular |
| Mar 6, 2024 | — | $0.2449 | regular |
| Dec 1, 2023 | — | $0.2331 | regular |
| Sep 5, 2023 | — | $0.2332 | regular |
| Jun 2, 2023 | — | $0.2332 | regular |
Income Calculator
At $1.10 / yr per share
