CBTX Inc (NASDAQ:CBTX) – Equities researchers at Piper Sandler issued their FY2020 earnings per share estimates for CBTX in a research note issued on Tuesday, January 14th. Piper Sandler analyst B. Milsaps forecasts that the company will post earnings of $1.97 per share for the year.
A number of other research analysts also recently weighed in on CBTX. Zacks Investment Research upgraded shares of CBTX from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Thursday, January 9th. TheStreet downgraded shares of CBTX from a “b-” rating to a “c+” rating in a research report on Friday, January 3rd.
CBTX stock traded down $0.05 during midday trading on Friday, reaching $31.47. 626 shares of the company traded hands, compared to its average volume of 47,631. The firm has a market capitalization of $820.02 million, a price-to-earnings ratio of 16.79 and a beta of 1.11. The business has a 50 day moving average of $30.57 and a two-hundred day moving average of $29.10. CBTX has a 12 month low of $25.92 and a 12 month high of $34.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.07 and a quick ratio of 1.07.
CBTX (NASDAQ:CBTX) last issued its quarterly earnings data 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 company 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%.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were given a $0.10 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.40 annualized dividend and a yield of 1.27%. CBTX’s payout ratio is presently 21.16%.
In other CBTX news, Director Joe Sr Penland, Sr. purchased 9,695 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were acquired at an average cost of $28.87 per share, for a total transaction of $279,894.65. 29.24% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in shares of CBTX by 42.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 31,108 shares of the company’s stock valued at $867,000 after purchasing an additional 9,332 shares during the period. Millennium Management LLC raised its position in shares of CBTX by 55.1% during the 3rd quarter. Millennium Management LLC now owns 125,017 shares of the company’s stock valued at $3,485,000 after purchasing an additional 44,408 shares during the period. Sunbelt Securities Inc. bought a new stake in shares of CBTX during the 3rd quarter valued at $5,766,000. California Public Employees Retirement System bought a new stake in shares of CBTX during the 3rd quarter valued at $246,000. Finally, Vanguard Group Inc. raised 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 valued at $23,891,000 after purchasing an additional 13,973 shares during the period. Hedge funds and other institutional investors own 28.38% 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.
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