Commercial Bancgroup, Inc.'s (NASDAQ:CBK) Lock-Up Period To End on March 31st

Key Points

• Lock-up period ends on March 31, allowing major shareholders and insiders to sell their holdings; the IPO issued 7,173,092 shares on Oct. 2 at $24 each for a roughly $172.15 million offering.
• Commercial Bancgroup declared a quarterly dividend of $0.10 per share payable on March 31 (ex-dividend March 13, record March 15), annualized to $0.40 for a ~1.6% yield.
• Analyst coverage is mixed—one Strong Buy and one Sell with a MarketBeat consensus of "Moderate Buy"—and the stock trades near $25.10 with a $307.2M market cap, a P/E of 16.85, and last quarter EPS of $0.72.

Commercial Bancgroup's (NASDAQ:CBK - Get Free Report) lock-up period will end on Tuesday, March 31st. Commercial Bancgroup had issued 7,173,092 shares in its IPO on October 2nd. The total size of the offering was $172,154,208 based on an initial share price of $24.00. After the end of Commercial Bancgroup's lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Ratings Changes

Separately, Weiss Ratings initiated coverage on Commercial Bancgroup in a report on Friday, December 26th. They issued a "sell (e)" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy".

Commercial Bancgroup Trading Up 2.1%

NASDAQ:CBK opened at $25.10 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.05 and a quick ratio of 1.03. The stock has a market cap of $307.22 million and a P/E ratio of 16.85. The company's 50-day simple moving average is $25.82. Commercial Bancgroup has a twelve month low of $23.24 and a twelve month high of $27.83.

Commercial Bancgroup (NASDAQ:CBK - Get Free Report) last released its quarterly earnings results on Monday, January 26th. The company reported $0.72 EPS for the quarter. The business had revenue of $23.48 million during the quarter.

Commercial Bancgroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Sunday, March 15th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, March 13th. Commercial Bancgroup's dividend payout ratio is 26.85%.

Institutional Trading of Commercial Bancgroup

Several institutional investors and hedge funds have recently made changes to their positions in CBK. Strs Ohio acquired a new stake in shares of Commercial Bancgroup during the fourth quarter valued at $29,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Commercial Bancgroup in the 4th quarter valued at about $46,000. MetLife Investment Management LLC purchased a new position in Commercial Bancgroup in the 4th quarter valued at about $103,000. State of Tennessee Department of Treasury purchased a new position in Commercial Bancgroup in the 4th quarter valued at about $145,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Commercial Bancgroup during the 4th quarter worth about $153,000.

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.

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