Insider Buying: Commercial Bancgroup (NASDAQ:CBK) EVP Acquires 3,300 Shares of Stock

Key Points

• EVP Philip Metheny bought 3,300 shares on April 30 at an average price of $29.02 (total ~$95,766), increasing his stake by 34.99% to 12,732 shares valued at about $369,483.
• Dividend declared: the company announced a $0.10 quarterly dividend (annualized $0.40) with record/ex-dividend date on June 15 and payment on June 30, implying a ~1.4% yield and a payout ratio of 26.85%.
• Commercial Bancgroup reported quarter revenue of $23.07 million and stated earnings per share of $999.00, while analyst views are mixed — MarketBeat shows an average "Moderate Buy" but Weiss Ratings reissued a "sell (e)."

Commercial Bancgroup, Inc. (NASDAQ:CBK - Get Free Report) EVP Philip Metheny bought 3,300 shares of the company's stock in a transaction that occurred on Thursday, April 30th. The stock was bought at an average price of $29.02 per share, with a total value of $95,766.00. Following the acquisition, the executive vice president directly owned 12,732 shares in the company, valued at $369,482.64. The trade was a 34.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Commercial Bancgroup Stock Up 0.1%

Commercial Bancgroup stock traded up $0.04 during trading on Friday, hitting $29.00. The company had a trading volume of 23,215 shares, compared to its average volume of 55,953. Commercial Bancgroup, Inc. has a 1-year low of $23.24 and a 1-year high of $29.89. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.25. The company's 50 day simple moving average is $26.79 and its 200-day simple moving average is $25.59.

Commercial Bancgroup (NASDAQ:CBK - Get Free Report) last posted its earnings results on Monday, April 27th. The company reported $999.00 earnings per share for the quarter. The company had revenue of $23.07 million during the quarter.

Commercial Bancgroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, June 15th. Commercial Bancgroup's dividend payout ratio (DPR) is currently 26.85%.

Hedge Funds Weigh In On Commercial Bancgroup

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBK. SG Americas Securities LLC purchased a new position in Commercial Bancgroup in the 4th quarter valued at approximately $153,000. Community Trust & Investment Co. purchased a new position in Commercial Bancgroup in the 4th quarter valued at approximately $9,161,000. Phocas Financial Corp. purchased a new position in Commercial Bancgroup in the 4th quarter valued at approximately $3,607,000. Daytona Street Capital LLC purchased a new position in Commercial Bancgroup in the 4th quarter valued at approximately $381,000. Finally, Rosenthal Henry Capital Advisors Inc. purchased a new position in Commercial Bancgroup in the 4th quarter valued at approximately $1,535,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (e)" rating on shares of Commercial Bancgroup in a research report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average 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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