Commercial Bancgroup (NASDAQ:CBK) Posts Earnings Results

Commercial Bancgroup (NASDAQ:CBK) released its quarterly earnings results on Monday. The company reported $0.75 earnings per share for the quarter, FiscalAI reports. Commercial Bancgroup had a net margin of 30.07% and a return on equity of 14.42%. The business had revenue of $32.80 million for the quarter.

Commercial Bancgroup Price Performance

Shares of NASDAQ:CBK opened at $34.66 on Wednesday. The company’s 50-day moving average is $31.55 and its 200 day moving average is $28.38. 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 company has a market capitalization of $474.84 million and a P/E ratio of 11.87. Commercial Bancgroup has a fifty-two week low of $23.24 and a fifty-two week high of $35.57.

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 dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 15th. This is a positive change from Commercial Bancgroup’s previous quarterly dividend of $0.10. Commercial Bancgroup’s dividend payout ratio (DPR) is presently 18.02%.

Insider Buying and Selling

In related news, EVP Philip J. Metheny bought 3,300 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were purchased at an average cost of $29.02 per share, for a total transaction of $95,766.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 36.20% of the company’s stock.

Institutional Investors Weigh In On Commercial Bancgroup

A number of hedge funds have recently modified their holdings of CBK. Strs Ohio purchased a new position in Commercial Bancgroup in the fourth quarter valued at approximately $29,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Commercial Bancgroup in the fourth quarter worth $46,000. State of Wyoming bought a new stake in shares of Commercial Bancgroup in the first quarter valued at $72,000. MetLife Investment Management LLC bought a new stake in shares of Commercial Bancgroup in the fourth quarter valued at $103,000. Finally, State of Tennessee Department of Treasury purchased a new position in shares of Commercial Bancgroup during the 4th quarter valued at $145,000.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Commercial Bancgroup from a “sell (e+)” rating to a “sell (d-)” rating in a research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

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.