CBTX (NASDAQ:CBTX) Downgraded by BidaskClub to Sell

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BidaskClub cut shares of CBTX (NASDAQ:CBTX) from a hold rating to a sell rating in a research report released on Saturday, BidAskClub reports.

Several other analysts have also issued reports on CBTX. TheStreet lowered CBTX from a b rating to a d rating in a research note on Monday, March 23rd. Stephens upgraded CBTX from an equal weight rating to an overweight rating in a report on Tuesday, May 12th. Zacks Investment Research downgraded CBTX from a hold rating to a sell rating in a report on Monday, April 27th. Finally, ValuEngine upgraded CBTX from a sell rating to a hold rating in a report on Thursday, July 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $33.00.

Shares of CBTX stock opened at $17.39 on Friday. CBTX has a 52-week low of $12.50 and a 52-week high of $31.73. The stock’s 50-day simple moving average is $19.89 and its 200 day simple moving average is $22.53. The stock has a market capitalization of $436.88 million, a P/E ratio of 9.20 and a beta of 1.27. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.05 and a current ratio of 1.05.

CBTX (NASDAQ:CBTX) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.02). CBTX had a net margin of 27.64% and a return on equity of 9.01%. The firm had revenue of $36.55 million during the quarter, compared to the consensus estimate of $37.15 million. Equities research analysts forecast that CBTX will post 1.12 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.30%. CBTX’s payout ratio is presently 19.80%.

In other CBTX news, Director Joe Sr Penland, Sr. acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average cost of $20.48 per share, with a total value of $204,800.00. Also, Director Joe Sr Penland, Sr. acquired 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $17.23 per share, for a total transaction of $258,450.00. Insiders have bought 38,000 shares of company stock valued at $698,680 over the last 90 days. Corporate insiders own 30.07% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can purchased a new stake in shares of CBTX during the fourth quarter valued at $45,000. Bank of Montreal Can boosted its position in CBTX by 42.3% in the fourth quarter. Bank of Montreal Can now owns 2,247 shares of the company’s stock worth $70,000 after purchasing an additional 668 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in CBTX in the first quarter worth about $42,000. Citigroup Inc. boosted its position in CBTX by 47.5% in the fourth quarter. Citigroup Inc. now owns 3,766 shares of the company’s stock worth $117,000 after purchasing an additional 1,212 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in CBTX by 71.6% in the fourth quarter. Victory Capital Management Inc. now owns 5,544 shares of the company’s stock worth $173,000 after purchasing an additional 2,314 shares during the last quarter. 29.83% 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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