Commercial Bancgroup, Inc. $CBK is Jacobs Asset Management LLC's 8th Largest Position

Key Points

• Jacobs Asset Management reduced its stake in Commercial Bancgroup by 13% in the first quarter, but the bank stock remains its 8th-largest holding at 4.3% of the portfolio.
• Commercial Bancgroup shares were trading near $33.11, close to their 52-week high of $34.46, with a market cap of about $453.6 million and a P/E ratio of 14.91.
• The company recently reported Q1 EPS of $0.73 on revenue of $23.07 million and paid a quarterly dividend of $0.10 per share, equal to a 1.2% annualized yield.

Jacobs Asset Management LLC lowered its stake in shares of Commercial Bancgroup, Inc. (NASDAQ:CBK - Free Report) by 13.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 278,454 shares of the company's stock after selling 41,546 shares during the quarter. Commercial Bancgroup comprises about 4.3% of Jacobs Asset Management LLC's holdings, making the stock its 8th largest position. Jacobs Asset Management LLC owned 2.03% of Commercial Bancgroup worth $7,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Strs Ohio acquired a new position in Commercial Bancgroup in the fourth quarter valued at $29,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Commercial Bancgroup in the 4th quarter worth about $46,000. State of Wyoming purchased a new position in shares of Commercial Bancgroup in the 1st quarter worth about $72,000. MetLife Investment Management LLC acquired a new position in shares of Commercial Bancgroup in the 4th quarter valued at about $103,000. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Commercial Bancgroup in the 4th quarter valued at about $145,000.

Wall Street Analyst Weigh In

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 research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy".

Commercial Bancgroup Stock Up 1.0%

Shares of Commercial Bancgroup stock opened at $33.11 on Friday. The company has a fifty day moving average price of $31.30 and a 200 day moving average price of $28.21. 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, Inc. has a twelve month low of $23.24 and a twelve month high of $34.46. The stock has a market cap of $453.61 million and a price-to-earnings ratio of 14.91.

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

Commercial Bancgroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. Commercial Bancgroup's dividend payout ratio is presently 18.02%.

Insider Activity

In related news, EVP Philip J. Metheny bought 3,300 shares of the stock in a transaction dated Thursday, April 30th. The stock was acquired at an average price of $29.02 per share, for a total transaction of $95,766.00. Following the completion of the purchase, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 36.20% of the company's stock.

Commercial Bancgroup 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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