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The Potential Rise in the Price of Commerce Bancshares, Inc. (CBSH) following insiders activity

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 $2.75 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 $0.56 million.

Raymond James upgraded its Commerce Bancshares, Inc. [CBSH] rating to an Outperform from a a Mkt perform in a research note published recently. A number of analysts have revised their coverage, including BofA Securities’s analysts, who began to cover the stock in mid January with a ‘”a Neutral”‘ rating. Morgan Stanley also remained covering CBSH and has increased its forecast on September 27, 2023 with a “an Equal-weight” recommendation from previously “an Underweight” rating. Morgan Stanley revised its rating on May 16, 2023. It rated CBSH as “an Underweight” which previously was an “an Equal-weight”.

Price Performance Review of CBSH

On Tuesday, Commerce Bancshares, Inc. [NASDAQ:CBSH] saw its stock fall -0.20% to $54.68. Over the last five days, the stock has lost -0.76%. Commerce Bancshares, Inc. shares have risen nearly 2.38% since the year began. Nevertheless, the stocks have risen 2.80% over the past one year. While a 52-week high of $56.75 was reached on 04/26/24, a 52-week low of $40.91 was recorded on 02/13/24. SMA at 50 days reached $52.58, while 200 days put it at $49.72. A total of 0.59 million shares were traded, compared to the trading of 0.39 million shares in the previous session.

Levels Of Support And Resistance For CBSH Stock

The 24-hour chart illustrates a support level at 54.25, which if violated will result in even more drops to 53.83. On the upside, there is a resistance level at 55.16. A further resistance level may holdings at 55.64. The Relative Strength Index (RSI) on the 14-day chart is 58.76, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.20, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 27.80%. Stochastics %K at 77.56% indicates the stock is a holding.

The most recent change occurred on December 05, 2022 when Morgan Stanley began covering the stock and recommended ‘”an Equal-weight”‘ rating along with a $74 price target.

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