CBTX (NASDAQ:CBTX) Earns “Hold” Rating from Stephens

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CBTX (NASDAQ:CBTX)‘s stock had its “hold” rating reaffirmed by analysts at Stephens in a report released on Tuesday, July 30th, Stock Target Advisor reports. They presently have a $31.00 price objective on the stock. Stephens’ price objective would indicate a potential upside of 11.51% from the company’s previous close.

The analysts wrote, “We’re pleased to see CBTX announce a share repurchase authorization of $40 million that could potentially return a portion of the Bank’s excess capital to shareholders (current TCE of 13.0%). Our lowered EPS forecast assumes operating expenses remain elevated due to the ongoing FinCEN investigation through mid-2020, although we have very limited visibility on this timeline. Our $31 price target represents a 16x multiple on our 2020 EPS forecast of $1.91.””

Separately, Zacks Investment Research raised shares of CBTX from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th.

Shares of CBTX stock opened at $27.80 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20. The stock has a market cap of $740.14 million, a PE ratio of 14.71 and a beta of 1.04. The company’s fifty day moving average price is $28.96 and its 200-day moving average price is $30.41. CBTX has a 12 month low of $26.11 and a 12 month high of $38.44.

CBTX (NASDAQ:CBTX) last posted its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.10. CBTX had a net margin of 31.41% and a return on equity of 10.54%. The business had revenue of $41.60 million for the quarter. On average, sell-side analysts forecast that CBTX will post 1.84 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in CBTX by 6.7% in the second quarter. BlackRock Inc. now owns 1,190,043 shares of the company’s stock worth $33,488,000 after buying an additional 75,107 shares during the last quarter. Vanguard Group Inc. increased its stake in CBTX by 1.7% in the second 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 during the period. RMB Capital Management LLC increased its stake in CBTX by 0.8% in the second quarter. RMB Capital Management LLC now owns 647,076 shares of the company’s stock worth $18,209,000 after purchasing an additional 5,000 shares during the period. Millennium Management LLC increased its stake in CBTX by 19.5% in the fourth quarter. Millennium Management LLC now owns 380,016 shares of the company’s stock worth $11,172,000 after purchasing an additional 62,004 shares during the period. Finally, Wasatch Advisors Inc. increased its stake in CBTX by 17.8% in the second quarter. Wasatch Advisors Inc. now owns 268,380 shares of the company’s stock worth $7,552,000 after purchasing an additional 40,608 shares during the period. Hedge funds and other institutional investors own 28.23% 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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