CBTX (NASDAQ:CBTX) Raised to “B-” at TheStreet

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

A number of other brokerages have also recently commented on CBTX. Stephens reaffirmed a hold rating and set a $31.00 price target on shares of CBTX in a research report on Tuesday, July 30th. Zacks Investment Research cut shares of CBTX from a hold rating to a sell rating in a research report on Thursday.

Shares of CBTX stock traded down $0.04 during trading on Thursday, hitting $29.52. The company had a trading volume of 29,700 shares, compared to its average volume of 35,967. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $771.39 million, a P/E ratio of 15.62 and a beta of 1.10. The stock’s 50-day moving average price is $28.53 and its 200 day moving average price is $28.55. CBTX has a one year low of $25.92 and a one year high of $35.55.

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

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

In related news, Director Joe Sr Penland, Sr. acquired 9,695 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were bought at an average price of $28.87 per share, with a total value of $279,894.65. 29.24% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of CBTX by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 849,007 shares of the company’s stock worth $23,891,000 after purchasing an additional 13,973 shares in the last quarter. RMB Capital Management LLC raised its holdings 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 acquiring an additional 5,000 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of CBTX in the 2nd quarter worth about $44,000. Bank of America Corp DE raised its holdings in shares of CBTX by 7.9% in the 2nd quarter. Bank of America Corp DE now owns 36,427 shares of the company’s stock worth $1,025,000 after acquiring an additional 2,681 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in shares of CBTX in the 2nd quarter worth about $2,164,000. 28.11% of the stock is currently owned by institutional investors.

About CBTX

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.

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