Commerce Bancshares, Inc.’s recent filing unveils 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 $10.92 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 $54.89 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 Friday, Commerce Bancshares, Inc. [NASDAQ:CBSH] saw its stock jump 0.15% to $55.06. Over the last five days, the stock has lost -3.34%. Commerce Bancshares, Inc. shares have risen nearly 3.09% since the year began. Nevertheless, the stocks have risen 20.57% over the past one year. While a 52-week high of $57.48 was reached on 05/15/24, a 52-week low of $40.91 was recorded on 02/13/24. SMA at 50 days reached $54.07, while 200 days put it at $50.26. A total of 0.32 million shares were traded, compared to the trading of 0.3 million shares in the previous session.
Levels Of Support And Resistance For CBSH Stock
The 24-hour chart illustrates a support level at 54.76, which if violated will result in even more drops to 54.46. On the upside, there is a resistance level at 55.28. A further resistance level may holdings at 55.50. The Relative Strength Index (RSI) on the 14-day chart is 46.24, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.43%. Stochastics %K at 12.19% indicates the stock is a buying.
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.
