BlackRock Inc. raised its position in shares of CBTX Inc (NASDAQ:CBTX) by 664.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 971,150 shares of the company’s stock after purchasing an additional 844,081 shares during the quarter. BlackRock Inc. owned 3.74% of CBTX worth $32,097,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of CBTX. Northern Trust Corp lifted its holdings in CBTX by 39.9% during the first quarter. Northern Trust Corp now owns 36,985 shares of the company’s stock valued at $1,089,000 after purchasing an additional 10,549 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in CBTX during the first quarter valued at approximately $510,000. UBS Group AG lifted its holdings in CBTX by 836.6% during the first quarter. UBS Group AG now owns 4,786 shares of the company’s stock valued at $141,000 after purchasing an additional 4,275 shares in the last quarter. Millennium Management LLC lifted its holdings in CBTX by 120.1% during the first quarter. Millennium Management LLC now owns 332,290 shares of the company’s stock valued at $9,783,000 after purchasing an additional 181,302 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in CBTX by 59,416.7% during the first quarter. Royal Bank of Canada now owns 3,571 shares of the company’s stock valued at $105,000 after purchasing an additional 3,565 shares in the last quarter. 23.43% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:CBTX opened at $33.25 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. CBTX Inc has a 1-year low of $27.00 and a 1-year high of $38.71. The company has a market cap of $886.62 million and a price-to-earnings ratio of 23.92.
CBTX (NASDAQ:CBTX) last issued its quarterly earnings results on Thursday, July 26th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.04. CBTX had a net margin of 23.26% and a return on equity of 8.29%. The business had revenue of $34.38 million for the quarter. On average, equities research analysts predict that CBTX Inc will post 1.75 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 1st were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Friday, September 28th. CBTX’s dividend payout ratio (DPR) is presently 14.39%.
Several equities analysts have weighed in on the stock. Zacks Investment Research raised shares of CBTX from a “sell” rating to a “hold” rating in a report on Friday, August 17th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $35.00 price target on shares of CBTX in a report on Friday, July 27th. Finally, Stephens reaffirmed a “buy” rating and set a $33.00 price target on shares of CBTX in a report on Friday, July 27th.
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's deposit products include checking and savings accounts, certificates of deposit, and money market accounts; and loan portfolio comprises consumer loans, including residential real estate loans, home equity loans, home equity lines of credit, installment loans, unsecured and secured personal lines of credit, overdraft protection, and letters of credit.
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