Commercial Bancgroup, Inc.’s (NASDAQ:CBK) Quiet Period Will End on November 11th

Commercial Bancgroup’s (NASDAQ:CBK) quiet period will expire on Tuesday, November 11th. Commercial Bancgroup had issued 7,173,092 shares in its initial public offering on October 2nd. The total size of the offering was $172,154,208 based on an initial share price of $24.00. During the company’s quiet period, insiders and underwriters involved in the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CBK. Wall Street Zen upgraded Commercial Bancgroup to a “hold” rating in a research note on Saturday, October 11th. Hovde Group raised shares of Commercial Bancgroup to a “strong-buy” rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Commercial Bancgroup Price Performance

NASDAQ CBK opened at $24.20 on Friday. Commercial Bancgroup has a 12-month low of $23.36 and a 12-month high of $25.89. The firm has a market capitalization of $296.21 million and a price-to-earnings ratio of 31.43.

Commercial Bancgroup (NASDAQ:CBK) last issued its quarterly earnings results on Monday, October 27th. The company reported $0.77 EPS for the quarter. The firm had revenue of $22.85 million for the quarter.

Insider Transactions at Commercial Bancgroup

In related news, insider John Adam Robertson sold 2,898,796 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $23.16, for a total value of $67,136,115.36. Following the transaction, the insider owned 2,204,392 shares in the company, valued at approximately $51,053,718.72. This represents a 56.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martha S. Spurlock sold 124,932 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $23.16, for a total transaction of $2,893,425.12. Following the transaction, the director directly owned 95,006 shares of the company’s stock, valued at $2,200,338.96. This represents a 56.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,295,269 shares of company stock valued at $122,638,430 over the last quarter. Company insiders own 16.90% of the company’s stock.

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.