Commercial Bancgroup (NASDAQ:CBK) Shares Up 0.6% - Should You Buy?

Key Points

• Commercial Bancgroup shares rose 0.6% in mid-day trading, closing at $33.06 after trading as high as $33.22. Volume was lighter than usual, with about 45,588 shares changing hands versus an average of 95,680.
• The company recently reported quarterly EPS of $0.73 on revenue of $23.07 million and paid a quarterly dividend of $0.10 per share, equal to an annualized yield of about 1.2%.
• Analyst sentiment remains mixed but generally positive, with a consensus rating of “Moderate Buy”; meanwhile, insider buying and new institutional stakes suggest some investor confidence in the stock.

Commercial Bancgroup, Inc. (NASDAQ:CBK - Get Free Report)'s stock price shot up 0.6% during mid-day trading on Friday . The stock traded as high as $33.22 and last traded at $33.06. Approximately 45,588 shares traded 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 research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Commercial Bancgroup currently has a consensus rating of "Moderate Buy".

Commercial Bancgroup Stock Up 0.6%

The business has a 50-day moving average price of $30.37 and a 200 day moving average price of $27.59. The stock has a market capitalization of $452.92 million and a P/E ratio of 14.89. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.25.

Commercial Bancgroup (NASDAQ:CBK - Get Free Report) last released its earnings results on Monday, April 27th. The company reported $0.73 EPS for the quarter. The company had revenue of $23.07 million for the quarter.

Commercial Bancgroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.10 per share. The ex-dividend date was Monday, June 15th. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. Commercial Bancgroup's dividend payout ratio (DPR) is presently 18.02%.

Insider Transactions at Commercial Bancgroup

In related news, EVP Philip J. Metheny bought 3,300 shares of the business's stock in a transaction on Thursday, April 30th. The stock was acquired at an average cost of $29.02 per share, with a total value of $95,766.00. Following the purchase, the executive vice president directly owned 12,732 shares of the company's stock, valued at $369,482.64. The trade was a 34.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 36.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Commercial Bancgroup

Several institutional investors and hedge funds have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Commercial Bancgroup during the 4th quarter worth approximately $19,478,000. Mendon Capital Advisors Corp acquired a new position in Commercial Bancgroup in the fourth quarter valued at approximately $9,206,000. Community Trust & Investment Co. acquired a new position in Commercial Bancgroup in the fourth quarter valued at approximately $9,161,000. Jacobs Asset Management LLC purchased a new position in Commercial Bancgroup in the fourth quarter worth approximately $7,859,000. Finally, Petiole USA ltd acquired a new stake in Commercial Bancgroup during the fourth quarter worth $7,675,000.

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.

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