Commercial Bancgroup (NASDAQ:CBK) Trading 0.6% Higher – Here’s What Happened

Commercial Bancgroup, Inc. (NASDAQ:CBK) rose 0.6% on Friday . The company traded as high as $33.22 and last traded at $33.06. Approximately 45,588 shares changed hands during trading, a decline of 52% from the average session volume of 95,680 shares. The stock had previously closed at $32.85.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Commercial Bancgroup from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Commercial Bancgroup presently has a consensus rating of “Moderate Buy”.

Commercial Bancgroup Price Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.06 and a current ratio of 1.06. The stock’s 50-day moving average is $30.37 and its two-hundred day moving average is $27.59. The stock has a market cap of $452.92 million and a PE ratio of 14.89.

Commercial Bancgroup (NASDAQ:CBK) last announced its earnings results on Monday, April 27th. The company reported $0.73 earnings per share (EPS) for the quarter. The firm had revenue of $23.07 million during the quarter.

Commercial Bancgroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.40 annualized dividend and a yield of 1.2%. Commercial Bancgroup’s dividend payout ratio is presently 18.02%.

Insider Buying and Selling

In other news, EVP Philip J. Metheny bought 3,300 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was bought at an average cost of $29.02 per share, with a total value of $95,766.00. Following the transaction, the executive vice president directly owned 12,732 shares in the company, valued at $369,482.64. The trade was a 34.99% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 36.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Commercial Bancgroup

Several large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its holdings in Commercial Bancgroup by 6.5% during the 1st quarter. Renaissance Technologies LLC now owns 9,800 shares of the company’s stock worth $255,000 after buying an additional 600 shares in the last quarter. Strs Ohio purchased a new stake in shares of Commercial Bancgroup during the fourth quarter worth $29,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Commercial Bancgroup in the fourth quarter valued at $46,000. State of Wyoming purchased a new position in Commercial Bancgroup in the first quarter valued at $72,000. Finally, Bank of New York Mellon Corp boosted its holdings in Commercial Bancgroup by 23.0% in the first quarter. Bank of New York Mellon Corp now owns 15,859 shares of the company’s stock valued at $413,000 after purchasing an additional 2,970 shares during the period.

About Commercial Bancgroup

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.