Commercial Bancgroup (NASDAQ:CBK) Price Target Raised to $39.50

Commercial Bancgroup (NASDAQ:CBK) had its price target lifted by Hovde Group from $34.00 to $39.50 in a research note released on Thursday morning, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

Separately, Weiss Ratings upgraded Commercial Bancgroup from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $39.50.

Commercial Bancgroup Stock Performance

Shares of NASDAQ CBK opened at $34.24 on Thursday. 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 cap of $469.09 million and a price-to-earnings ratio of 11.73. The business’s 50-day simple moving average is $31.87 and its 200-day simple moving average is $28.55. Commercial Bancgroup has a 52 week low of $23.24 and a 52 week high of $35.57.

Commercial Bancgroup (NASDAQ:CBK) last issued its quarterly earnings data on Monday, July 27th. The company reported $0.75 earnings per share 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 $32.80 million for the quarter.

Commercial Bancgroup Increases Dividend

The firm 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. This is an increase from Commercial Bancgroup’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Commercial Bancgroup’s dividend payout ratio (DPR) is 13.70%.

Hedge Funds Weigh In On Commercial Bancgroup

A number of institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its stake in 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 purchasing an additional 600 shares during the period. Strs Ohio acquired a new stake in Commercial Bancgroup in the 4th quarter valued at approximately $29,000. Police & Firemen s Retirement System of New Jersey bought a new position in Commercial Bancgroup in the 4th quarter worth approximately $46,000. State of Wyoming bought a new position in Commercial Bancgroup in the 1st quarter worth approximately $72,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Commercial Bancgroup by 23.0% during the first quarter. Bank of New York Mellon Corp now owns 15,859 shares of the company’s stock worth $413,000 after buying an additional 2,970 shares during the last quarter.

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.