Key Points
- EVP Philip Metheny purchased 670 CBK shares at an average price of $34.79, investing $23,309.30 and increasing his direct holdings by 4.88% to 14,402 shares.
- Commercial Bancgroup reported quarterly EPS of $0.75 on $24.16 million in revenue, while raising its quarterly dividend from $0.10 to $0.12 per share, equivalent to a 1.4% yield.
- CBK shares were trading near $33.84, below Hovde Group’s $39.50 price target; analyst sentiment remains mixed, with one Buy and one Sell rating producing an overall “Hold” consensus.
Commercial Bancgroup, Inc. (NASDAQ:CBK - Get Free Report) EVP Philip Metheny bought 670 shares of the stock in a transaction dated Tuesday, August 25th. The stock was purchased at an average cost of $34.79 per share, with a total value of $23,309.30. Following the completion of the purchase, the executive vice president directly owned 14,402 shares in the company, valued at approximately $501,045.58. This trade represents a 4.88% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.
Commercial Bancgroup Trading Up 0.1%
Shares of CBK opened at $33.84 on Friday. The stock's fifty day simple moving average is $33.66 and its 200-day simple moving average is $29.77. The firm has a market capitalization of $463.61 million and a PE ratio of 11.59. Commercial Bancgroup, Inc. has a 12-month low of $23.24 and a 12-month high of $35.78. 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 (NASDAQ:CBK - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The company reported $0.75 EPS for the quarter. The firm had revenue of $24.16 million during the quarter. Commercial Bancgroup had a return on equity of 14.06% and a net margin of 30.07%.
Commercial Bancgroup Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.12 dividend. This is a boost from Commercial Bancgroup's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. Commercial Bancgroup's payout ratio is 13.70%.
Institutional Trading of Commercial Bancgroup
Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc bought a new position in Commercial Bancgroup during the second quarter worth about $27,000. Strs Ohio bought a new stake in shares of Commercial Bancgroup in the fourth quarter worth about $29,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Commercial Bancgroup in the fourth quarter worth about $46,000. State of Wyoming acquired a new stake in shares of Commercial Bancgroup during the first quarter worth about $72,000. Finally, California State Teachers Retirement System lifted its holdings in shares of 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 purchasing an additional 2,758 shares in the last quarter.
Analyst Ratings Changes
CBK has been the subject of a number of recent research reports. Weiss Ratings raised shares of Commercial Bancgroup from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, July 1st. Hovde Group raised their price objective on shares of Commercial Bancgroup from $34.00 to $39.50 and gave the company an "outperform" rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Commercial Bancgroup has an average rating of "Hold" and an average price target of $39.50.
Read Our Latest Analysis on CBK
About Commercial Bancgroup
(
Get Free Report)
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.
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