Commercial Bancgroup (NASDAQ:CBK) Releases Earnings Results

Commercial Bancgroup (NASDAQ:CBK) released its earnings results on Monday. The company reported $0.79 EPS for the quarter, FiscalAI reports. The business had revenue of $25.19 million for the quarter.

Commercial Bancgroup Price Performance

CBK stock opened at $32.64 on Wednesday. The business has a 50-day moving average price of $32.66 and a 200 day moving average price of $29.90. The company has a market capitalization of $447.20 million and a P/E ratio of 11.10. Commercial Bancgroup has a 1-year low of $23.24 and a 1-year high of $35.78.

Commercial Bancgroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 15th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, December 15th. Commercial Bancgroup’s payout ratio is presently 16.33%.

Institutional Investors Weigh In On Commercial Bancgroup

Several hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC boosted its stake in shares of Commercial Bancgroup by 4,377.0% during the third quarter. Sterling Capital Management LLC now owns 7,790 shares of the company’s stock valued at $244,000 after purchasing an additional 7,616 shares in the last quarter. Squarepoint Ops LLC bought a new position in Commercial Bancgroup in the second quarter worth approximately $425,000. Bank of America Corp DE bought a new position in Commercial Bancgroup in the second quarter worth approximately $649,000. Raffles Associates LP bought a new position in Commercial Bancgroup in the second quarter worth approximately $7,527,000. Finally, PDT Partners LLC purchased a new stake in Commercial Bancgroup during the second quarter worth $1,006,000.

Analyst Upgrades and Downgrades

CBK has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Commercial Bancgroup in a research note on Monday, September 28th. Hovde Group upped their price objective on Commercial Bancgroup from $34.00 to $39.50 and gave the company an “outperform” rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Commercial Bancgroup presently has a consensus rating of “Hold” and an average price target of $39.50.

Commercial Bancgroup Company Profile

Commercial Bancgroup, Inc is a bank holding company headquartered in Tennessee. Through its banking subsidiary, Commercial Bank, the company provides financial services to individuals, families, businesses and organizations in the communities it serves.

Commercial Bank’s offerings generally include deposit accounts such as checking, savings and certificates of deposit, along with lending products for commercial, real estate, residential mortgage and consumer purposes. The bank also provides services such as online and mobile banking, debit cards, electronic payments and other traditional banking solutions.

The company operates as a community-focused financial institution serving customers in Tennessee and surrounding areas through a network of banking offices and digital channels.