Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Commerce Bancshares, Inc shares valued at $1,853,367 were sold by KEMPER DAVID W on Oct 22 ’24. At $61.78 per share, KEMPER DAVID W sold 30,000 shares. The insider’s holdings dropped to 1,151,994 shares worth approximately $80.59 million following the completion of this transaction.
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Also, KEMPER DAVID W purchased 30,000 shares, netting a total of over 1,852,867 in proceeds.
Before that, Kellerhals Patricia R had sold 2,000 shares from its account. In a trade valued at $124,456, the Senior Vice President traded Commerce Bancshares, Inc shares for $62.23 each. Upon closing the transaction, the insider’s holdings decreased to 2,000 shares, worth approximately $1.64 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 10.03%. Over the course of the year, Commerce Bancshares, Inc shares have jumped approximately 30.99%. Shares of the company reached a 52-week high of $70.02 on 11/06/24 and a 52-week low of $49.44 on 02/13/24. A 50-day SMA is recorded $61.33, while a 200-day SMA reached $56.93. Nevertheless, trading volume fell to 1.3 million shares from 0.3 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 66.61, which, if violated, would cause prices to drop to 63.25. In the upper region, resistance lies at 71.67. The next price resistance is at 73.37. RSI (Relative Strength Index) is 80.45 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.53, which suggests the price will increase in the coming days. Percent R is at 0.62%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
