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 $2.66 million.
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 $0.54 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 Friday, Commerce Bancshares, Inc. [NASDAQ:CBSH] saw its stock jump 0.72% to $52.94. Over the last five days, the stock has lost -0.49%. Commerce Bancshares, Inc. shares have fallen nearly -0.88% since the year began. Nevertheless, the stocks have fallen -4.57% over the past one year. While a 52-week high of $56.75 was reached on 01/23/24, a 52-week low of $40.91 was recorded on 02/13/24. SMA at 50 days reached $51.94, while 200 days put it at $49.06. A total of 0.51 million shares were traded, compared to the trading of 0.57 million shares in the previous session.
Levels Of Support And Resistance For CBSH Stock
The 24-hour chart illustrates a support level at 52.44, which if violated will result in even more drops to 51.94. On the upside, there is a resistance level at 53.29. A further resistance level may holdings at 53.63. The Relative Strength Index (RSI) on the 14-day chart is 56.50, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.67, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 19.15%. Stochastics %K at 70.31% 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 Mar 15, 2024, dropping by 40000.0 shares to a total of 2.16 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 2.2 million shares. There was a decline of -1.85%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.80% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.71.
