Hovde Group Forecasts Strong Price Appreciation for Commercial Bancgroup (NASDAQ:CBK) Stock

Commercial Bancgroup (NASDAQ:CBK) had its price objective raised by stock analysts at Hovde Group from $34.00 to $39.50 in a report issued on Thursday. The brokerage currently has an “outperform” rating on the stock. Hovde Group’s price target would suggest a potential upside of 15.73% from the stock’s previous close.

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 Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $39.50.

Commercial Bancgroup Trading Down 1.5%

Shares of Commercial Bancgroup stock opened at $34.13 on Thursday. Commercial Bancgroup has a 12-month low of $23.24 and a 12-month high of $35.57. The stock has a market cap of $467.58 million and a P/E ratio of 11.69. 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 business’s 50 day moving average is $31.66 and its 200-day moving average is $28.44.

Commercial Bancgroup (NASDAQ:CBK) last released its earnings results on Monday, July 27th. The company reported $0.75 earnings per share for the quarter. Commercial Bancgroup had a net margin of 30.07% and a return on equity of 14.06%. The business had revenue of $32.80 million during the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its holdings in shares of Commercial Bancgroup by 6.5% during the 1st quarter. Renaissance Technologies LLC now owns 9,800 shares of the company’s stock worth $255,000 after acquiring an additional 600 shares during the last quarter. Sei Investments Co. lifted its holdings in Commercial Bancgroup by 93.1% during the 1st quarter. Sei Investments Co. now owns 48,414 shares of the company’s stock valued at $1,260,000 after purchasing an additional 23,346 shares during the last quarter. State of Wyoming bought a new position in Commercial Bancgroup during the first quarter worth $72,000. Bank of New York Mellon Corp increased its holdings in shares of Commercial Bancgroup by 23.0% in the first quarter. Bank of New York Mellon Corp now owns 15,859 shares of the company’s stock valued at $413,000 after purchasing an additional 2,970 shares during the last quarter. Finally, Petiole USA ltd acquired a new stake in shares of Commercial Bancgroup during the 4th quarter worth about $7,675,000.

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.