Jacobs Asset Management LLC Sells 41,546 Shares of Commercial Bancgroup, Inc. $CBK

Jacobs Asset Management LLC reduced its position in Commercial Bancgroup, Inc. (NASDAQ:CBK) by 13.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 278,454 shares of the company’s stock after selling 41,546 shares during the period. Commercial Bancgroup makes up approximately 4.3% of Jacobs Asset Management LLC’s investment portfolio, making the stock its 8th biggest position. Jacobs Asset Management LLC’s holdings in Commercial Bancgroup were worth $7,245,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Strs Ohio purchased a new stake in shares of Commercial Bancgroup during the fourth quarter worth about $29,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Commercial Bancgroup in the fourth quarter worth about $46,000. State of Wyoming acquired a new position in shares of Commercial Bancgroup in the first quarter worth about $72,000. MetLife Investment Management LLC purchased a new position in Commercial Bancgroup in the fourth quarter valued at about $103,000. Finally, State of Tennessee Department of Treasury purchased a new position in Commercial Bancgroup in the fourth quarter valued at about $145,000.

Analyst Upgrades and Downgrades

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 Strong Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Commercial Bancgroup Trading Up 1.0%

NASDAQ CBK opened at $33.11 on Friday. Commercial Bancgroup, Inc. has a 12 month low of $23.24 and a 12 month high of $34.46. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $453.61 million and a price-to-earnings ratio of 14.91. The company’s fifty day moving average price is $31.30 and its two-hundred day moving average price is $28.21.

Commercial Bancgroup (NASDAQ:CBK) last announced its quarterly earnings data on Monday, April 27th. The company reported $0.73 earnings per share for the quarter. The company had revenue of $23.07 million for the quarter.

Commercial Bancgroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, June 15th. Commercial Bancgroup’s dividend payout ratio (DPR) is 18.02%.

Insider Buying and Selling

In other news, EVP Philip J. Metheny acquired 3,300 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average cost of $29.02 per share, with a total value of $95,766.00. Following the completion of the acquisition, the executive vice president directly owned 12,732 shares in the company, valued at $369,482.64. This represents a 34.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 36.20% of the company’s stock.

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.