CBTX Inc (CBTX) Receives Average Recommendation of “Hold” from Brokerages

Shares of CBTX Inc (NASDAQ:CBTX) have earned an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating. CBTX’s rating score has declined by 200% in the last three months as a result of various analysts’ ratings changes.

Analysts have set a one year consensus target price of $35.00 for the company, according to Zacks. Zacks has also given CBTX an industry rank of 179 out of 255 based on the ratings given to related companies.

Several research firms have recently issued reports on CBTX. Zacks Investment Research cut CBTX from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. ValuEngine raised CBTX from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Stephens cut CBTX from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, March 6th.

Shares of NASDAQ:CBTX traded down $0.40 on Monday, hitting $32.51. 14,393 shares of the company’s stock were exchanged, compared to its average volume of 36,160. The stock has a market cap of $827.36 million, a P/E ratio of 17.20 and a beta of 1.00. CBTX has a 1-year low of $27.61 and a 1-year high of $38.71.

CBTX (NASDAQ:CBTX) last released its quarterly earnings data on Wednesday, January 30th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.08. The business had revenue of $37.08 million during the quarter. CBTX had a return on equity of 10.10% and a net margin of 31.52%. As a group, research analysts forecast that CBTX will post 1.96 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, March 29th. This is a boost from CBTX’s previous quarterly dividend of $0.05. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.23%. CBTX’s dividend payout ratio is 21.16%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can acquired a new stake in shares of CBTX in the 4th quarter valued at about $47,000. Legal & General Group Plc raised its stake in CBTX by 24.8% during the 4th quarter. Legal & General Group Plc now owns 3,465 shares of the company’s stock valued at $102,000 after acquiring an additional 688 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in CBTX by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,319 shares of the company’s stock valued at $186,000 after acquiring an additional 4,935 shares during the last quarter. Citigroup Inc. raised its stake in CBTX by 46.2% during the 4th quarter. Citigroup Inc. now owns 7,480 shares of the company’s stock valued at $220,000 after acquiring an additional 2,362 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in CBTX by 13.2% during the 4th quarter. California Public Employees Retirement System now owns 7,803 shares of the company’s stock valued at $229,000 after acquiring an additional 908 shares during the last quarter. 29.50% of the stock is owned by hedge funds and other institutional investors.

About CBTX

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.

See Also: Earnings Reports

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