Commercial Bancgroup (NASDAQ:CBK) EVP Purchases $23,309.30 in Stock

Commercial Bancgroup, Inc. (NASDAQ:CBK) EVP Philip Metheny acquired 670 shares of the stock in a transaction on Tuesday, August 25th. The stock was bought at an average cost of $34.79 per share, for a total transaction of $23,309.30. Following the transaction, the executive vice president owned 14,402 shares of the company’s stock, valued at approximately $501,045.58. This trade represents a 4.88% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Commercial Bancgroup Stock Up 0.8%

Commercial Bancgroup stock opened at $34.12 on Friday. The firm has a 50 day moving average price of $33.72 and a 200-day moving average price of $29.80. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.24. Commercial Bancgroup, Inc. has a twelve month low of $23.24 and a twelve month high of $35.78. The company has a market capitalization of $467.44 million and a P/E ratio of 11.68.

Commercial Bancgroup (NASDAQ:CBK) last posted its quarterly earnings data on Monday, July 27th. The company reported $0.75 EPS for the quarter. Commercial Bancgroup had a return on equity of 14.06% and a net margin of 30.07%.The business had revenue of $24.16 million for the quarter.

Commercial Bancgroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, September 15th. This is a boost from Commercial Bancgroup’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. Commercial Bancgroup’s dividend payout ratio is presently 13.70%.

Hedge Funds Weigh In On Commercial Bancgroup

A number of large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in shares of Commercial Bancgroup by 6.5% during the 1st quarter. Renaissance Technologies LLC now owns 9,800 shares of the company’s stock valued at $255,000 after purchasing an additional 600 shares during the period. Legal & General Group Plc bought a new position in Commercial Bancgroup in the 2nd quarter worth about $27,000. Strs Ohio bought a new position in Commercial Bancgroup in the 4th quarter worth about $29,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Commercial Bancgroup during the 4th quarter valued at about $46,000. Finally, California State Teachers Retirement System grew its holdings in Commercial Bancgroup by 737.4% during the 2nd quarter. California State Teachers Retirement System now owns 3,132 shares of the company’s stock valued at $97,000 after buying an additional 2,758 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CBK. Weiss Ratings raised Commercial Bancgroup from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 1st. Hovde Group upped their price objective on shares of Commercial Bancgroup from $34.00 to $39.50 and gave the company an “outperform” rating in a report on Thursday, July 30th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $39.50.

Commercial Bancgroup Company Profile

We are a bank holding company headquartered in Harrogate, Tennessee, and have elected under the Bank Holding Company Act of 1956, as amended (the “BHC Act”), to become a financial holding company. We were incorporated in Tennessee in 1975, and we operate primarily through our wholly owned bank subsidiary, Commercial Bank, a Tennessee banking corporation organized in 1976. The Bank is a full-service community banking institution that offers traditional consumer and commercial products and services to serve businesses and individuals in select markets in Kentucky, North Carolina, and Tennessee.