CBSH · Financials · Bank · FY2025 filings ·
Scored by the financial-sector model
Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”
These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.
This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.
Records still being gathered — partial as of retrieval Sep 19, 2026.
Among the rows shown, A/F/M acquisition, payment or withholding, and exercise or conversion rows outnumber S sale rows (19 versus 3). The filing codes alone do not establish that every such row arose from a compensation plan.
Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.
| Insider | Shares owned after | Date | Filing detail | ||||
|---|---|---|---|---|---|---|---|
| UPTON JENNIFER BSenior Vice President | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 2 paired events | 440 | $38.5255 | $16,951 | See lot detail | Sep 4, 2026 | 2 filed lots
|
| UPTON JENNIFER BSenior Vice President | Payment of exercise price or tax liability (F)Table I · Disposed · Common Stock | 44 | $58.5148 | $2,575 | See lot detail | Sep 4, 2026 | 2 filed lots
|
| UPTON JENNIFER BSenior Vice President | Disposition to the issuer (D)Table I · Disposed · Common Stock | 291 | $58.5151 | $17,028 | See lot detail | Sep 4, 2026 | 2 filed lots
|
| UPTON JENNIFER BSenior Vice President | Exercise or conversion of derivative security (M)Table II · Disposed · Stock Appreciation Rights · 2 paired events | 440 | —Exercise or conversion of derivative security (M) | — | See lot detail | Sep 4, 2026 | 2 filed lots
|
| Neff Douglas DSenior Vice President | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 2 paired events | 2,789 | $38.5262 | $107,449 | See lot detail | Aug 27, 2026 | 2 filed lots
|
| Neff Douglas DSenior Vice President | Payment of exercise price or tax liability (F)Table I · Disposed · Common Stock | 273 | $58.10 | $15,861 | 14,262 | Aug 27, 2026 | 1 filed lot
|
| Neff Douglas DSenior Vice President | Disposition to the issuer (D)Table I · Disposed · Common Stock | 1,850 | $58.10 | $107,485 | 12,412 | Aug 27, 2026 | 1 filed lot
|
| Neff Douglas DSenior Vice President | Open-market or private sale (S)Table I · Disposed · Common Stock | 666 | $58.145 | $38,725 | 11,746 | Aug 27, 2026 | 1 filed lot
|
| Neff Douglas DSenior Vice President | Exercise or conversion of derivative security (M)Table II · Disposed · Stock Appreciation Rights · 2 paired events | 2,789 | —Exercise or conversion of derivative security (M) | — | See lot detail | Aug 27, 2026 | 2 filed lots
|
| Orf David LExec. Vice President & CCO | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 2 paired events | 2,547 | $38.564 | $98,222 | See lot detail | Aug 14, 2026 | 2 filed lots
|
| Orf David LExec. Vice President & CCO | Payment of exercise price or tax liability (F)Table I · Disposed · Common Stock | 275 | $60.31 | $16,585 | 27,234 | Aug 14, 2026 | 1 filed lot
|
| Orf David LExec. Vice President & CCO | Disposition to the issuer (D)Table I · Disposed · Common Stock | 1,630 | $60.31 | $98,305 | 25,604 | Aug 14, 2026 | 1 filed lot
|
| Orf David LExec. Vice President & CCO | Open-market or private sale (S)Table I · Disposed · Common Stock | 642 | $60.35 | $38,745 | 24,962 | Aug 14, 2026 | 1 filed lot
|
| Orf David LExec. Vice President & CCO | Exercise or conversion of derivative security (M)Table II · Disposed · Stock Appreciation Rights · 2 paired events | 2,547 | —Exercise or conversion of derivative security (M) | — | See lot detail | Aug 14, 2026 | 2 filed lots
|
| Roller David L.Senior Vice President | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 1 paired event | 3,507 | $39.8997 | $139,928 | 34,042 | Aug 4, 2026 | 1 filed lot
|
| Roller David L.Senior Vice President | Payment of exercise price or tax liability (F)Table I · Disposed · Common Stock | 357 | $60.32 | $21,534 | 33,685 | Aug 4, 2026 | 1 filed lot
|
| Roller David L.Senior Vice President | Disposition to the issuer (D)Table I · Disposed · Common Stock | 2,320 | $60.32 | $139,942 | 31,365 | Aug 4, 2026 | 1 filed lot
|
| Roller David L.Senior Vice President | Open-market or private sale (S)Table I · Disposed · Common Stock | 830 | $60.2766 | $50,030 | 30,535 | Aug 4, 2026 | 1 filed lot
|
| Roller David L.Senior Vice President | Exercise or conversion of derivative security (M)Table II · Disposed · Stock Appreciation Rights · 1 paired event | 3,507 | —Exercise or conversion of derivative security (M) | — | 0 | Aug 4, 2026 | 1 filed lot
|
Source-event as of . Retrieved .
Flagship explainer
Start with net interest income, then follow the filed path to net income.
| Filed line | Value | % of net interest income | Source |
|---|---|---|---|
| $1.1B | 100% |
| |
| Income before tax | $732M | 66% |
|
| Income tax | $161M | 14% |
|
| $566M | 51% |
|
Flagship explainer
COMMERCE BANCSHARES, INC.'s filing tags don't support a full breakdown — here's what is filed:
| Filed line | Value | % of assets | Source |
|---|---|---|---|
| Total assets | $32.9B | 100% |
|
| Cash and equivalents | $3.5B | 11% |
|
| Property, plant and equipment | $486M | 1% |
|
| Goodwill | $147M | 0% |
|
| Deferred tax assets | $253M | 1% |
|
| Operating lease right-of-use assets | $30.6M | 0% |
|
| Total liabilities | $29.1B | 88% |
|
| Stockholders’ equity | $3.8B | 12% |
|
Flagship explainer
One or more filed inputs needed for the five-factor decomposition are unavailable.
| Input | Value | Fiscal year | Source |
|---|---|---|---|
| Net income | $566M | FY2025 |
|
| Income before tax | $732M | FY2025 |
|
| Operating income | Unavailable | FY2025 |
|
| Revenue | Unavailable | FY2025 |
|
| Ending assets | $32.9B | FY2025 |
|
| Beginning assets | $32.0B | FY2024 |
|
| Ending equity | $3.8B | FY2025 |
|
| Beginning equity | $3.3B | FY2024 |
|
Flagship explainer
COMMERCE BANCSHARES, INC.’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:
| Filed line | Value | % of cash from operations | Source |
|---|---|---|---|
| Cash from operations | $645M | 100% |
|
| Depreciation and amortization | $56.5M | 9% |
|
| Share-based compensation | $17.3M | 3% |
|
| Cash from investing | −$462M | −72% |
|
| Cash from financing | −$11M | −2% |
|
Curated 19-manager tier
Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.
0 holding0 exited0 not holding0/19 resolved19 not retrieved
| Manager | Reported position | Quarter-over-quarter | Filing accession |
|---|---|---|---|
| Abrams Capital | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Akre Capital | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Baupost Group | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Berkshire Hathaway | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Brave Warrior Advisors | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Dodge & Cox | Not retrieved | Comparison not retrieved | Filing not retrieved |
| First Eagle | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Fundsmith | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Gardner Russo & Quinn | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Gates Foundation Trust | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Mairs & Power | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Markel / Markel-Gayner | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Oakmark / Harris Associates | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Pershing Square | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Polen Capital | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Sequoia / Ruane Cunniff | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Southeastern Asset Management | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Tweedy, Browne | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Yacktman Asset Management | Not retrieved | Comparison not retrieved | Filing not retrieved |
Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.
Flagship explainer
Records still being gathered — partial as of retrieval Sep 19, 2026.
Partial coverage: the incomplete Form 4 walk cannot establish no activity, an activity date, or zero counts.
Median ROE 15.5% on average equity, above the 10% hurdle in 100% of 9 years.
Q3 scored 2 evidenced ratios equally; reserve score is unadjusted for Q4 and capped at 70.
Profitable in 100% of 10 years, ROE very steady.
Net interest income is 3.14% of average assets, very steady over 9 years through FY2025.
Not scored for this company
Scored 4 of 5 applicable components (bank model); weights renormalized over the scored set.
The 15-year revenue, margin, and ROIC series is built for the operating model’s lens and isn’t published for banks and insurers — a balance-sheet business is read through the components above, not through operating-company margins.
| Reading | ||
|---|---|---|
| Aug 3, 2026 | 92 | |
| Jul 26, 2026 | 82 | |
| Jul 26, 2026 | 82 | |
Append-only — readings are added, never rewritten. Only readings on the same methodology version (moat-index-financials@1.0.0) are comparable; a change across versions is a scoring change, not a company event.