The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Commerce Bancshares, Inc. shares valued at $124,456 were sold by Kellerhals Patricia R on Sep 16 ’24. At $62.23 per share, Kellerhals Patricia R sold 2,000 shares. The insider’s holdings dropped to 23,381 shares worth approximately $1.44 million following the completion of this transaction.
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Also, Kellerhals Patricia R purchased 2,000 shares, netting a total of over 124,455 in proceeds.
Before that, Handy John K had sold 1,331 shares from its account. In a trade valued at $84,918, the Executive Vice President traded Commerce Bancshares, Inc. shares for $63.80 each. Upon closing the transaction, the insider’s holdings decreased to 1,331 shares, worth approximately $2.56 million.
As published in a research note from Morgan Stanley on September 30, 2024, Commerce Bancshares, Inc. [CBSH] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $64 from $66. Analysts at Raymond James upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid April. As of January 11, 2024, BofA Securities has initiated its “Neutral” rating for CBSH. Earlier on September 27, 2023, Morgan Stanley upgraded its rating. Their new recommendation was “an Equal-weight” for CBSH stock which previously was a “an Underweight”.
Analyzing CBSH Stock Performance
During the last five days, there has been a surge of approximately 5.65%. Over the course of the year, Commerce Bancshares, Inc. shares have jumped approximately 15.45%. Shares of the company reached a 52-week high of $65.86 on 07/31/24 and a 52-week low of $49.44 on 02/13/24. A 50-day SMA is recorded $60.99, while a 200-day SMA reached $56.25. Nevertheless, trading volume fell to 0.93 million shares from 0.62 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 61.23, which, if violated, would cause prices to drop to 60.81. In the upper region, resistance lies at 62.24. The next price resistance is at 62.82. RSI (Relative Strength Index) is 59.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.11, which suggests the price will increase in the coming days. Percent R is at 12.85%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
