Commercial Bancgroup (NASDAQ:CBK) Issues Quarterly Earnings Results

Commercial Bancgroup (NASDAQ:CBK) announced its quarterly earnings results on Monday. The company reported $0.79 earnings per share (EPS) for the quarter, FiscalAI reports. Commercial Bancgroup had a return on equity of 14.06% and a net margin of 30.07%. The business had revenue of $25.19 million during the quarter.

Commercial Bancgroup Stock Performance

Shares of NASDAQ CBK traded down $0.22 during trading hours on Monday, reaching $32.00. 44,340 shares of the stock were exchanged, compared to its average volume of 56,032. The firm has a market capitalization of $438.40 million and a price-to-earnings ratio of 10.96. The stock’s fifty day simple moving average is $32.76 and its 200 day simple moving average is $31.66. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.06 and a current ratio of 1.06. Commercial Bancgroup has a 52 week low of $23.24 and a 52 week high of $35.78.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CBK. Hovde Group increased their price objective on shares of Commercial Bancgroup from $34.00 to $39.50 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Commercial Bancgroup in a report on Monday, September 28th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Commercial Bancgroup during the 2nd quarter worth approximately $21,665,000. Raffles Associates LP bought a new position in shares of Commercial Bancgroup during the second quarter worth approximately $7,527,000. PDT Partners LLC acquired a new stake in shares of Commercial Bancgroup in the second quarter valued at approximately $1,006,000. Sei Investments Co. raised its position in shares of Commercial Bancgroup by 93.1% in the first quarter. Sei Investments Co. now owns 48,414 shares of the company’s stock valued at $1,260,000 after buying an additional 23,346 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Commercial Bancgroup in the second quarter valued at approximately $736,000.

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.