Sei Investments Co. Has $1.26 Million Stock Holdings in Commercial Bancgroup, Inc. $CBK

Sei Investments Co. raised its stake in Commercial Bancgroup, Inc. (NASDAQ:CBK) by 93.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,414 shares of the company’s stock after purchasing an additional 23,346 shares during the period. Sei Investments Co. owned 0.35% of Commercial Bancgroup worth $1,260,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CBK. Phocas Financial Corp. acquired a new stake in Commercial Bancgroup during the fourth quarter worth approximately $3,607,000. ELCO Management Co. LLC acquired a new stake in Commercial Bancgroup during the 4th quarter worth approximately $488,000. Polaris Capital Management LLC acquired a new position in Commercial Bancgroup in the 4th quarter valued at $2,051,000. Maltese Capital Management LLC acquired a new stake in shares of Commercial Bancgroup during the fourth quarter worth $3,889,000. Finally, Rosenthal Henry Capital Advisors Inc. bought a new stake in shares of Commercial Bancgroup in the fourth quarter valued at about $1,535,000.

Commercial Bancgroup Stock Performance

NASDAQ CBK opened at $34.67 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $474.98 million and a price-to-earnings ratio of 11.87. The firm’s 50 day simple moving average is $32.70 and its 200 day simple moving average is $29.06. Commercial Bancgroup, Inc. has a 1 year low of $23.24 and a 1 year high of $35.72.

Commercial Bancgroup (NASDAQ:CBK) last announced its quarterly earnings data on Monday, July 27th. The company reported $0.75 EPS 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.

Commercial Bancgroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, September 15th. 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. Commercial Bancgroup’s dividend payout ratio is currently 13.70%.

Wall Street Analysts Forecast Growth

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

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.