CBTX (NASDAQ:CBTX) Upgraded at TheStreet

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TheStreet upgraded shares of CBTX (NASDAQ:CBTX) from a c rating to a b- rating in a research report released on Thursday morning, TheStreetRatingsTable reports.

Other equities research analysts have also issued reports about the stock. Stephens reaffirmed a hold rating and set a $31.00 price target on shares of CBTX in a report on Tuesday, July 30th. Zacks Investment Research lowered shares of CBTX from a hold rating to a sell rating in a report on Thursday.

Shares of CBTX traded down $0.04 on Thursday, hitting $29.52. 29,700 shares of the stock traded hands, compared to its average volume of 35,967. The stock’s 50 day moving average is $28.53 and its two-hundred day moving average is $28.55. The firm has a market capitalization of $771.39 million, a P/E ratio of 15.62 and a beta of 1.10. CBTX has a 1 year low of $25.92 and a 1 year high of $35.55. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.26.

CBTX (NASDAQ:CBTX) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.03. The business had revenue of $38.69 million during the quarter. CBTX had a net margin of 30.50% and a return on equity of 10.27%. Research analysts forecast that CBTX will post 1.8 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.36%. CBTX’s dividend payout ratio (DPR) is 21.16%.

In related news, Director Joe Sr Penland, Sr. acquired 9,695 shares of CBTX stock in a transaction on Thursday, October 31st. The shares were purchased at an average cost of $28.87 per share, for a total transaction of $279,894.65. Corporate insiders own 29.24% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in CBTX by 6.7% during the 2nd quarter. BlackRock Inc. now owns 1,190,043 shares of the company’s stock valued at $33,488,000 after acquiring an additional 75,107 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of CBTX by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 849,007 shares of the company’s stock worth $23,891,000 after buying an additional 13,973 shares during the last quarter. RMB Capital Management LLC lifted its position in shares of CBTX by 0.8% in the 2nd quarter. RMB Capital Management LLC now owns 647,076 shares of the company’s stock worth $18,209,000 after buying an additional 5,000 shares during the last quarter. Wasatch Advisors Inc. lifted its position in shares of CBTX by 17.8% in the 2nd quarter. Wasatch Advisors Inc. now owns 268,380 shares of the company’s stock worth $7,552,000 after buying an additional 40,608 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of CBTX by 2.7% in the 2nd quarter. Northern Trust Corp now owns 222,274 shares of the company’s stock worth $6,255,000 after buying an additional 5,779 shares during the last quarter. Hedge funds and other institutional investors own 28.11% of the company’s stock.

CBTX Company Profile

CBTX, Inc operates as the bank holding company for CommunityBank of Texas, National Association that provides commercial banking solutions to small and mid-sized businesses, and professionals in the United States. The company offers various deposit products, including demand, savings, money market, and time accounts; and loans, such as commercial and industrial loans, commercial real estate loans, construction and development loans, 1-4 family residential mortgage loans, multi-family residential loans, consumer loans, and agricultural loans.

Further Reading: Death Cross

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