Penn Capital Management Company LLC Acquires New Shares in Commercial Bancgroup, Inc. $CBK

Penn Capital Management Company LLC purchased a new position in Commercial Bancgroup, Inc. (NASDAQ:CBK) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,571 shares of the company’s stock, valued at approximately $677,000. Penn Capital Management Company LLC owned approximately 0.23% of Commercial Bancgroup at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Pacific Ridge Capital Partners LLC bought a new stake in shares of Commercial Bancgroup in the fourth quarter worth about $3,428,000. ELCO Management Co. LLC bought a new stake in shares of Commercial Bancgroup in the fourth quarter worth about $488,000. Ballast Inc. bought a new stake in shares of Commercial Bancgroup in the fourth quarter worth about $466,000. Strs Ohio bought a new stake in shares of Commercial Bancgroup in the fourth quarter worth about $29,000. Finally, Polaris Capital Management LLC bought a new stake in shares of Commercial Bancgroup in the fourth quarter worth about $2,051,000.

Commercial Bancgroup Stock Up 1.0%

Shares of Commercial Bancgroup stock opened at $29.15 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $399.36 million and a P/E ratio of 13.13. Commercial Bancgroup, Inc. has a 1 year low of $23.24 and a 1 year high of $29.89. The business has a 50-day moving average of $27.71 and a two-hundred day moving average of $26.08.

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

Commercial Bancgroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, June 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.4%. Commercial Bancgroup’s dividend payout ratio (DPR) is presently 18.02%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e)” rating on shares of Commercial Bancgroup in a report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Insider Activity

In other news, EVP Philip J. Metheny acquired 3,300 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was acquired at an average cost of $29.02 per share, for a total transaction of $95,766.00. Following the completion of the acquisition, the executive vice president owned 12,732 shares in the company, valued at $369,482.64. This represents a 34.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 36.20% of the company’s stock.

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.