PDT Partners LLC Takes $1.01 Million Position in Commercial Bancgroup, Inc. $CBK

PDT Partners LLC acquired a new position in Commercial Bancgroup, Inc. (NASDAQ:CBK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 31,170 shares of the company’s stock, valued at approximately $1,006,000.

Other hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake 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 valued at $255,000 after buying an additional 600 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Commercial Bancgroup during the 2nd quarter valued at about $27,000. Strs Ohio purchased a new position in Commercial Bancgroup in the 4th quarter worth approximately $29,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Commercial Bancgroup in the fourth quarter worth $46,000. Finally, State of Wyoming purchased a new position in shares of Commercial Bancgroup in the 1st quarter worth about $72,000.

Analyst Ratings Changes

CBK has been the topic of several recent research 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 target price on Commercial Bancgroup from $34.00 to $39.50 and gave the company an “outperform” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $39.50.

Commercial Bancgroup Price Performance

CBK stock opened at $33.81 on Thursday. Commercial Bancgroup, Inc. has a 52-week low of $23.24 and a 52-week high of $35.78. 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 firm has a market capitalization of $463.20 million and a price-to-earnings ratio of 11.58. The firm has a 50 day moving average price of $33.61 and a 200-day moving average price of $29.72.

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

Commercial Bancgroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. This is a boost from Commercial Bancgroup’s previous quarterly dividend of $0.10. Commercial Bancgroup’s payout ratio is presently 13.70%.

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.