Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Commerce Bancshares, Inc. shares valued at $263,275 were sold by Holmes Robert S on Mar 11 ’24. At $52.66 per share, Holmes Robert S sold 5,000 shares. The insider’s holdings dropped to 50,293 shares worth approximately $2.61 million following the completion of this transaction.
Also, KEMPER JONATHAN M sold 18,900 shares, netting a total of over 1,013,229 in proceeds. Following the sale of shares at $53.61 each, the insider now holds 996,884 shares.
Before that, Brooks Derrick had sold 323 shares from its account. In a trade valued at $17,460, the Senior Vice President traded Commerce Bancshares, Inc. shares for $54.05 each. Upon closing the transaction, the insider’s holdings decreased to 323 shares, worth approximately $0.53 million.
As published in their initiating research note from BofA Securities on January 11, 2024, Commerce Bancshares, Inc. [CBSH] has been a Neutral and the price target has been revised to $55. Analysts at Morgan Stanley upgraded the stock from ‘”an Underweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in late September. As of May 16, 2023, Morgan Stanley has decreased its “an Equal-weight” rating to a “an Underweight” for CBSH. Earlier on December 05, 2022, Morgan Stanley initiated its rating. Their recommendation was “an Equal-weight” for CBSH stock.
Analyzing CBSH Stock Performance
During the last five days, there has been a drop of approximately -0.67%. Over the course of the year, Commerce Bancshares, Inc. shares have dropped approximately -2.77%. Shares of the company reached a 52-week high of $55.65 on 01/23/24 and a 52-week low of $49.44 on 02/13/24. A 50-day SMA is recorded $51.91, while a 200-day SMA reached $49.19. Nevertheless, trading volume fell to 0.62 million shares from 0.94 million shares the previous day.
Support And Resistance Levels for Commerce Bancshares, Inc. (CBSH)
According to the 24-hour chart, there is a support level at 51.27, which, if violated, would cause prices to drop to 50.62. In the upper region, resistance lies at 52.74. The next price resistance is at 53.56. RSI (Relative Strength Index) is 47.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.81, which suggests the price will decrease in the coming days. Percent R is at 71.28%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Commerce Bancshares, Inc. subject to short interest?
Stocks of Commerce Bancshares, Inc. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.19 million shares to 2.05 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 2.24 million shares. A decline of -9.27% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.44 of the overall float, the days-to-cover ratio (short ratio) decline to 4.44.
