An Analysis of Commerce Bancshares Inc. (CBSH)’s Potential Price Growth


In a filing, Commerce Bancshares Inc. revealed its Director KEMPER DAVID W unloaded Company’s shares for reported $1.24 million on Feb 07. In the deal valued at $67.43 per share,18,422 shares were sold. As a result of this transaction, KEMPER DAVID W now holds 1,143,974 shares worth roughly $ 75.67 million.

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Then, KEMPER DAVID W sold 1,036 shares, generating $69,819 in total proceeds. Upon selling the shares at $67.39, the Director now owns 1,162,396 shares.

Before that, Kemper John W sold 4,400 shares. Commerce Bancshares Inc. shares valued at $297,648 were divested by the President and CEO at a price of $67.65 per share. As a result of the transaction, Kemper John W now holds 187,677 shares, worth roughly $12.41 million.

Morgan Stanley initiated its Commerce Bancshares Inc. [CBSH] rating to an Equal-weight in a research note published on Tuesday, December 05, 2022; the price target was $74. PT values the company’s stock at a premium of 10.61 to its Tuesday closing price. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who increased its forecast for the stock in late March from “an Underweight” to “an Equal weight”. BofA Securities also remained covering CBSH and has decreased its forecast on April 16, 2021 with a “an Underperform” recommendation from previously “Neutral” rating. Raymond James revised its rating on October 21, 2020. It rated CBSH as “a Mkt perform” which previously was an “an Underperform”.

Price Performance Review of CBSH

On Tuesday, Commerce Bancshares Inc. [NASDAQ:CBSH] saw its stock fall -0.78% to $66.15. On the same session, the stock had its day’s lowest price of $66.13, but rose to a high of $67.205. Over the last five days, the stock has lost -0.29%. Commerce Bancshares Inc. shares have fallen nearly -2.82% since the year began. Nevertheless, the stocks have fallen -2.98% over the past one year. While a 52-week high of $72.60 was reached on 01/17/23, a 52-week low of $59.81 was recorded on 01/26/23. SMA at 50 days reached $66.82, while 200 days put it at $66.23. A total of 0.64 million shares were traded, compared to the trading of 0.45 million shares in the previous session.

Levels Of Support And Resistance For CBSH Stock

The 24-hour chart illustrates a support level at 65.78, which if violated will result in even more drops to 65.42. On the upside, there is a resistance level at 66.86. A further resistance level may holdings at 67.57. The Relative Strength Index (RSI) on the 14-day chart is 46.37, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 68.08%. Stochastics %K at 46.09% indicates the stock is a holding.

How much short interest is there in Commerce Bancshares Inc.?

A steep rise in short interest was recorded in Commerce Bancshares Inc. stocks on Jan 30, 2023, growing by 0.24 million shares to a total of 3.16 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 2.92 million shares. There was a rise of 7.59%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.80% of the overall stock float, the days-to-cover ratio (short ratio) rose to 8.04.

Commerce Bancshares Inc. [CBSH] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 11,850,223 shares, or roughly 9.46% of the outstanding CBSH shares. In other words, the investor’s shares have risen by 192,431 from its previous 13-F filing of 11657792.0. Additionally, BlackRock Fund Advisors increased 2.99% of its stake after which the total value it holdings stand at $633,753,303, while Aristotle Capital Management LLC reduced -4.75% of its stake to hold $624.77 million in the firm. Over the last quarter, Commerce Bank sold -73,083 shares of Commerce Bancshares Inc., while SSgA Funds Management, Inc. sold -311,922 shares. At present, Lazard Asset Management LLC is holding 5,228,774 shares valued at $348.03 million. Geode Capital Management LLC owned 1,775,854 shares of the company at the time of its most recent 13F filing, worth $118.2 million.

According to FactSet, Commerce Bancshares Inc.’s share price will average $68.67 in the next year, based on opinions of analysts polled by the firm. This is up nearly 2.74 percent from its previous closing price of $66.67. Analysts expect Commerce Bancshares Inc. stock to reach the higher price of $72.00, while the lowest price estimate is $65.00. However, 7 analysts have rated CBSH stock as a Hold in their predictions for 2023.


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