Hovde Group Increases Commercial Bancgroup (NASDAQ:CBK) Price Target to $39.50

Key Points

• Hovde Group raised Commercial Bancgroup’s price target from $34.00 to $39.50 and maintained an “outperform” rating, implying 15.73% potential upside.
• Commercial Bancgroup reported quarterly EPS of $0.75 on revenue of $32.80 million, with a 30.07% net margin and 14.06% return on equity.
• The stock opened at $34.13 after declining 1.5%; analysts’ overall consensus rating remains “Hold,” based on one Buy and one Sell rating.

Commercial Bancgroup (NASDAQ:CBK - Get Free Report) had its price objective boosted by equities researchers at Hovde Group from $34.00 to $39.50 in a research report issued on Thursday. The firm currently has an "outperform" rating on the stock. Hovde Group's price objective indicates a potential upside of 15.73% from the company's current price.

Separately, Weiss Ratings upgraded Commercial Bancgroup from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Commercial Bancgroup presently has an average rating of "Hold" and a consensus target price of $39.50.

Commercial Bancgroup Stock Down 1.5%

Shares of CBK stock opened at $34.13 on Thursday. The firm has a fifty day moving average of $31.66 and a 200-day moving average of $28.44. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.24. Commercial Bancgroup has a 12-month low of $23.24 and a 12-month high of $35.57. The company has a market capitalization of $467.58 million and a price-to-earnings ratio of 11.69.

Commercial Bancgroup (NASDAQ:CBK - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The company reported $0.75 EPS for the quarter. The business had revenue of $32.80 million for the quarter. Commercial Bancgroup had a net margin of 30.07% and a return on equity of 14.06%.

Institutional Trading of Commercial Bancgroup

A number of institutional investors have recently made changes to their positions in the business. Strs Ohio bought a new position in Commercial Bancgroup in the fourth quarter valued at $29,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Commercial Bancgroup in the 4th quarter valued at $46,000. State of Wyoming bought a new stake in Commercial Bancgroup during the 1st quarter worth about $72,000. MetLife Investment Management LLC acquired a new position in shares of Commercial Bancgroup during the 4th quarter worth about $103,000. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Commercial Bancgroup during the 4th quarter worth about $145,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.