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Raymond James analysts upgrades an Outperform rating for Commerce Bancshares, Inc. (CBSH)

Commerce Bancshares, Inc.’s recently made public that its President and CEO Kemper John W unloaded Company’s shares for reported $1.51 million on May 10 ’24. In the deal valued at $56.77 per share,26,581 shares were sold. As a result of this transaction, Kemper John W now holds 198,387 shares worth roughly $11.27 million.

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Then, Holmes Robert S sold 5,000 shares, generating $263,275 in total proceeds. Upon selling the shares at $52.66, the Executive Vice President now owns 50,293 shares.

Before that, KEMPER JONATHAN M sold 18,900 shares. Commerce Bancshares, Inc. shares valued at $1,013,229 were divested by the Director at a price of $53.61 per share. As a result of the transaction, KEMPER JONATHAN M now holds 996,884 shares, worth roughly $56.62 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 jump 0.74% to $56.80. Over the last five days, the stock has gained 1.39%. Commerce Bancshares, Inc. shares have risen nearly 6.35% since the year began. Nevertheless, the stocks have risen 22.34% over the past one year. While a 52-week high of $57.30 was reached on 05/10/24, a 52-week low of $40.91 was recorded on 02/13/24. SMA at 50 days reached $53.47, while 200 days put it at $50.04. A total of 0.27 million shares were traded, compared to the trading of 0.36 million shares in the previous session.

Levels Of Support And Resistance For CBSH Stock

The 24-hour chart illustrates a support level at 56.44, which if violated will result in even more drops to 56.07. On the upside, there is a resistance level at 57.06. A further resistance level may holdings at 57.31. The Relative Strength Index (RSI) on the 14-day chart is 65.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.63, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 16.69%. Stochastics %K at 77.30% 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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