Mendon Capital Advisors Corp Sells 59,214 Shares of Commercial Bancgroup, Inc. $CBK

Mendon Capital Advisors Corp decreased its stake in shares of Commercial Bancgroup, Inc. (NASDAQ:CBK) by 15.8% during the first quarter, HoldingsChannel.com reports. The firm owned 315,633 shares of the company’s stock after selling 59,214 shares during the period. Commercial Bancgroup accounts for 2.4% of Mendon Capital Advisors Corp’s portfolio, making the stock its 12th largest position. Mendon Capital Advisors Corp’s holdings in Commercial Bancgroup were worth $8,213,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Renaissance Technologies LLC grew 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 valued at $255,000 after buying an additional 600 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Commercial Bancgroup by 93.1% in the first quarter. Sei Investments Co. now owns 48,414 shares of the company’s stock worth $1,260,000 after buying an additional 23,346 shares in the last quarter. State of Wyoming bought a new position in shares of Commercial Bancgroup in the first quarter valued at approximately $72,000. Bank of New York Mellon Corp boosted its position in shares of 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 acquiring an additional 2,970 shares during the period. Finally, Petiole USA ltd purchased a new position in Commercial Bancgroup during the fourth quarter valued at approximately $7,675,000.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Commercial Bancgroup from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Insider Transactions at Commercial Bancgroup

In related news, EVP Philip J. Metheny acquired 3,300 shares of Commercial Bancgroup stock in a transaction dated Thursday, April 30th. The shares were purchased at an average cost of $29.02 per share, with a total value of $95,766.00. Following the completion of the purchase, the executive vice president owned 12,732 shares of the company’s stock, valued at $369,482.64. This represents a 34.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 36.20% of the stock is currently owned by insiders.

Commercial Bancgroup Price Performance

CBK stock opened at $33.11 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.06 and a current ratio of 1.06. Commercial Bancgroup, Inc. has a 52 week low of $23.24 and a 52 week high of $34.46. The firm’s fifty day moving average is $31.30 and its 200 day moving average is $28.24. The firm has a market cap of $453.61 million and a P/E ratio of 14.91.

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

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.