Commercial Bancgroup (NASDAQ:CBK) EVP Philip Metheny Acquires 670 Shares

Commercial Bancgroup, Inc. (NASDAQ:CBK) EVP Philip Metheny purchased 670 shares of the stock in a transaction on Tuesday, August 25th. The stock was acquired at an average cost of $34.79 per share, for a total transaction of $23,309.30. Following the acquisition, the executive vice president directly owned 14,402 shares in the company, valued at approximately $501,045.58. This trade represents a 4.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Commercial Bancgroup Stock Performance

NASDAQ:CBK opened at $33.84 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $33.66 and a 200 day moving average price of $29.77. The firm has a market capitalization of $463.61 million and a PE ratio of 11.59. Commercial Bancgroup, Inc. has a 12-month low of $23.24 and a 12-month high of $35.78.

Commercial Bancgroup (NASDAQ:CBK) last issued its earnings results on Monday, July 27th. The company reported $0.75 earnings per share (EPS) for the quarter. The business had revenue of $24.16 million during the quarter. Commercial Bancgroup had a return on equity of 14.06% and a net margin of 30.07%.

Commercial Bancgroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This is a boost from Commercial Bancgroup’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.4%. Commercial Bancgroup’s dividend payout ratio (DPR) is 13.70%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Strs Ohio acquired a new position in Commercial Bancgroup during the 4th quarter worth about $29,000. Ballast Inc. bought a new position in shares of Commercial Bancgroup in the fourth quarter worth about $466,000. ELCO Management Co. LLC bought a new position in shares of Commercial Bancgroup in the fourth quarter worth about $488,000. Pacific Ridge Capital Partners LLC acquired a new position in shares of Commercial Bancgroup during the fourth quarter worth approximately $3,428,000. Finally, Penn Capital Management Company LLC acquired a new position in shares of Commercial Bancgroup during the fourth quarter worth approximately $677,000.

Analysts Set New Price Targets

CBK has been the topic of several analyst reports. Weiss Ratings raised shares of Commercial Bancgroup from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 1st. Hovde Group boosted their price target on shares of Commercial Bancgroup from $34.00 to $39.50 and gave the company an “outperform” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.50.

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.