Philip Metheny Buys 670 Shares of Commercial Bancgroup (NASDAQ:CBK) Stock

Commercial Bancgroup, Inc. (NASDAQ:CBK) EVP Philip Metheny purchased 670 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was purchased at an average price of $34.79 per share, for a total transaction of $23,309.30. Following the completion of the transaction, the executive vice president directly owned 14,402 shares in the company, valued at $501,045.58. This trade represents a 4.88% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Commercial Bancgroup Stock Up 0.8%

Shares of NASDAQ CBK opened at $34.12 on Friday. The firm has a 50 day moving average price of $33.72 and a 200 day moving average price of $29.80. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $467.44 million and a P/E ratio of 11.68. Commercial Bancgroup, Inc. has a 52-week low of $23.24 and a 52-week high of $35.78.

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

Commercial Bancgroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. This is an increase from Commercial Bancgroup’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, September 15th. Commercial Bancgroup’s dividend payout ratio is currently 13.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CBK shares. Weiss Ratings upgraded Commercial Bancgroup from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 1st. Hovde Group increased their target price on Commercial Bancgroup from $34.00 to $39.50 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $39.50.

Institutional Investors Weigh In On Commercial Bancgroup

Several institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new position in Commercial Bancgroup in the 2nd quarter worth $27,000. Strs Ohio acquired a new stake in shares of Commercial Bancgroup in the 4th quarter valued at about $29,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Commercial Bancgroup in the 4th quarter valued at about $46,000. State of Wyoming bought a new stake in shares of Commercial Bancgroup in the first quarter valued at about $72,000. Finally, California State Teachers Retirement System lifted its holdings in shares of Commercial Bancgroup by 737.4% in the second quarter. California State Teachers Retirement System now owns 3,132 shares of the company’s stock valued at $97,000 after purchasing an additional 2,758 shares in the last quarter.

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.