Commerce Bancshares, Inc.’s recent filing unveils that its Executive Vice President Holmes Robert S unloaded Company’s shares for reported $0.26 million on Mar 11 ’24. In the deal valued at $52.66 per share,5,000 shares were sold. As a result of this transaction, Holmes Robert S now holds 50,293 shares worth roughly $2.59 million.
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Then, KEMPER JONATHAN M sold 18,900 shares, generating $1,013,229 in total proceeds. Upon selling the shares at $53.61, the Director now owns 996,884 shares.
Before that, Brooks Derrick sold 323 shares. Commerce Bancshares, Inc. shares valued at $17,460 were divested by the Senior Vice President at a price of $54.05 per share. As a result of the transaction, Brooks Derrick now holds 10,262 shares, worth roughly $0.53 million.
BofA Securities initiated its Commerce Bancshares, Inc. [CBSH] rating to a Neutral in a research note published on January 11, 2024; the price target was $55. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who increased its forecast for the stock in late September from “an Underweight” to “an Equal-weight”. Morgan Stanley also remained covering CBSH and has decreased its forecast on May 16, 2023 with a “an Underweight” recommendation from previously “an Equal-weight” rating. Morgan Stanley started covering the stock on December 05, 2022. It rated CBSH as “an Equal-weight”.
Price Performance Review of CBSH
On Tuesday, Commerce Bancshares, Inc. [NASDAQ:CBSH] saw its stock jump 0.19% to $51.49. Over the last five days, the stock has gained 1.78%. Commerce Bancshares, Inc. shares have fallen nearly -3.59% since the year began. Nevertheless, the stocks have fallen -6.45% over the past one year. While a 52-week high of $57.00 was reached on 01/23/24, a 52-week low of $40.91 was recorded on 02/13/24. SMA at 50 days reached $52.08, while 200 days put it at $48.88. A total of 0.36 million shares were traded, compared to the trading of 0.37 million shares in the previous session.
Levels Of Support And Resistance For CBSH Stock
The 24-hour chart illustrates a support level at 51.16, which if violated will result in even more drops to 50.84. On the upside, there is a resistance level at 51.76. A further resistance level may holdings at 52.04. The Relative Strength Index (RSI) on the 14-day chart is 48.30, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 65.23%. Stochastics %K at 28.58% 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 Feb 29, 2024, dropping by 60000.0 shares to a total of 2.24 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 2.3 million shares. There was a decline of -2.68%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.87% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.65.
