Mendon Capital Advisors Corp Sells 59,214 Shares of Commercial Bancgroup, Inc. $CBK

Key Points

• Mendon Capital Advisors cut its Commercial Bancgroup stake by 15.8%, selling 59,214 shares in the first quarter and retaining 315,633 shares worth approximately $8.2 million.
• Commercial Bancgroup shares opened at $33.11, near their 52-week high of $34.46, with a $453.6 million market capitalization and a P/E ratio of 14.91. The company reported quarterly earnings of $0.73 per share on revenue of $23.07 million.
• Insider ownership stands at 36.2%, and EVP Philip J. Metheny recently bought 3,300 shares. Analyst sentiment is mixed—one Strong Buy and one Sell—though MarketBeat lists a consensus rating of “Moderate Buy.”

Mendon Capital Advisors Corp reduced its stake in Commercial Bancgroup, Inc. (NASDAQ:CBK - Free Report) by 15.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 315,633 shares of the company's stock after selling 59,214 shares during the quarter. Commercial Bancgroup makes up 2.4% of Mendon Capital Advisors Corp's investment portfolio, making the stock its 12th largest holding. Mendon Capital Advisors Corp owned 2.30% of Commercial Bancgroup worth $8,213,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of CBK. Strs Ohio purchased a new position in Commercial Bancgroup during the 4th quarter worth $29,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Commercial Bancgroup in the fourth quarter valued at about $46,000. State of Wyoming bought a new position in shares of Commercial Bancgroup during the first quarter valued at about $72,000. MetLife Investment Management LLC bought a new position in shares of Commercial Bancgroup during the fourth quarter valued at about $103,000. Finally, State of Tennessee Department of Treasury purchased a new position in Commercial Bancgroup during the fourth quarter worth about $145,000.

Commercial Bancgroup Stock Performance

Shares of Commercial Bancgroup stock opened at $33.11 on Monday. Commercial Bancgroup, Inc. has a 52-week low of $23.24 and a 52-week high of $34.46. The stock's 50-day simple moving average is $31.30 and its 200 day simple moving average is $28.24. The stock has a market capitalization of $453.61 million and a P/E ratio of 14.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.06 and a current ratio of 1.06.

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

Insider Activity

In other Commercial Bancgroup news, EVP Philip J. Metheny purchased 3,300 shares of the company's stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average cost of $29.02 per share, for a total transaction of $95,766.00. Following the purchase, the executive vice president owned 12,732 shares of the company's stock, valued at $369,482.64. This represents a 34.99% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 36.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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 issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy".

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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