Short Interest Update on Commerce Bancshares (CBSH)

Commerce Bancshares (CBSH) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 4,588,207 to 4,544,403 shares, with 14 days to go before the expiry. The short open interest has decreased by -1%, amounting to a reduction of -43,804 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 4.9% of the float of the company. The average daily volume of the stock is 315,255 shares. The short interest information was released on Wednesday Aug 24th after the market close.

Commerce Bancshares (NASDAQ:CBSH): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $49.03 and $48.98 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $49.31. The buying momentum continued till the end and the stock did not give up its gains. It closed at $49.30, notching a gain of 0.39% for the day. The total traded volume was 191,632 . The stock had closed at $49.11 on the previous day.


In a related news,The officer (Executive Vice President) of Commerce Bancshares Inc /Mo/, Barth Kevin G sold 6,440 shares at $48.53 on August 8, 2016. The Insider selling transaction had a total value worth of $312,533. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Commerce Bancshares, Inc. is a bank holding company of Commerce Bank (the Bank). The Company operates through three segments: Consumer, Commercial and Wealth. The Consumer segment includes the retail branch network, consumer installment lending, personal mortgage banking, consumer debit and credit bank card activities. It provides services through a network of 195 branches, an automated teller machine (ATM) network of 392 machines, and the use of alternative delivery channels, such as online banking, mobile, and telephone banking services. The Commercial segment provides an array of corporate lending, merchant and commercial bank card products, leasing, and international services, as well as business and government deposit and cash management services. The Wealth segment provides trust and estate tax planning services, brokerage services, and advisory and discretionary investment portfolio management services to both personal and institutional corporate customers.

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