CBTX (NASDAQ:CBTX) was upgraded by investment analysts at TheStreet from a “c” rating to a “b-” rating in a research note issued to investors on Thursday, TheStreetRatingsTable reports.
Several other research analysts also recently commented on the company. Stephens reaffirmed a “hold” rating and issued a $31.00 price objective on shares of CBTX in a research note on Tuesday, July 30th. Zacks Investment Research downgraded CBTX from a “hold” rating to a “sell” rating in a research note on Thursday.
Shares of NASDAQ:CBTX traded down $0.04 on Thursday, hitting $29.52. 29,700 shares of the company traded hands, compared to its average volume of 35,967. The stock has a 50 day simple moving average of $28.53 and a 200-day simple moving average of $28.55. 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 has a 52 week low of $25.92 and a 52 week high of $35.55. The company has a market cap of $771.39 million, a PE ratio of 15.62 and a beta of 1.10.
CBTX (NASDAQ:CBTX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. CBTX had a return on equity of 10.27% and a net margin of 30.50%. The firm had revenue of $38.69 million for the quarter. As a group, sell-side analysts anticipate that CBTX will post 1.8 earnings per share for the current year.
In other CBTX news, Director Joe Sr Penland, Sr. bought 9,695 shares of the firm’s stock in a transaction that occurred on 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 currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of CBTX. JPMorgan Chase & Co. increased its stake in CBTX by 17.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,109 shares of the company’s stock worth $145,000 after acquiring an additional 766 shares during the last quarter. Acadian Asset Management LLC increased its stake in CBTX by 2.0% in the 2nd quarter. Acadian Asset Management LLC now owns 55,973 shares of the company’s stock worth $1,576,000 after acquiring an additional 1,083 shares during the last quarter. Bank of Montreal Can bought a new stake in CBTX in the 2nd quarter worth approximately $44,000. Rhumbline Advisers increased its stake in CBTX by 8.7% in the 3rd quarter. Rhumbline Advisers now owns 29,594 shares of the company’s stock worth $825,000 after acquiring an additional 2,367 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in 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. 28.11% of the stock is currently owned by institutional investors.
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.
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