CBTX (NASDAQ:CBTX) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of CBTX (NASDAQ:CBTX) from a hold rating to a sell rating in a research report report published on Friday morning, Zacks.com reports.

According to Zacks, “CBTX, Inc. is a bank holding company. It provides personal and commercial banking, real estate loans, and investment services as well as offers deposits, debit and credit cards, cash management, treasury, and online banking services. CBTX, Inc. is based in TX, United States. “

Separately, Stephens reiterated a hold rating and issued a $31.00 target price on shares of CBTX in a research note on Tuesday, July 30th.

CBTX stock opened at $28.33 on Friday. The firm has a market capitalization of $725.83 million, a P/E ratio of 13.48 and a beta of 1.04. The stock has a fifty day moving average price of $28.97 and a 200 day moving average price of $30.40. CBTX has a 52 week low of $26.11 and a 52 week high of $38.44. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20.

CBTX (NASDAQ:CBTX) last released its earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.10. The firm had revenue of $41.60 million during the quarter. CBTX had a return on equity of 10.54% and a net margin of 31.41%. As a group, equities analysts predict that CBTX will post 1.8 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in CBTX by 6.7% in the 2nd 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 in the last quarter. Vanguard Group Inc. grew its holdings in CBTX by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 849,007 shares of the company’s stock worth $23,891,000 after buying an additional 13,973 shares in the last quarter. RMB Capital Management LLC grew its holdings in CBTX by 0.8% in the 2nd quarter. RMB Capital Management LLC now owns 647,076 shares of the company’s stock worth $18,209,000 after buying an additional 5,000 shares in the last quarter. Wasatch Advisors Inc. grew its holdings in CBTX by 17.8% in the 2nd quarter. Wasatch Advisors Inc. now owns 268,380 shares of the company’s stock worth $7,552,000 after buying an additional 40,608 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in CBTX by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 224,766 shares of the company’s stock worth $6,608,000 after buying an additional 6,661 shares in the last quarter. 28.23% of the stock is 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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