CBTX (NASDAQ:CBTX) was upgraded by equities researchers at TheStreet from a “c” rating to a “b-” rating in a research report issued on Thursday, TheStreetRatingsTable reports.
CBTX has been the topic of several other reports. Stephens reaffirmed a “hold” rating and set a $31.00 target price on shares of CBTX in a research report on Tuesday, July 30th. Zacks Investment Research lowered CBTX from a “hold” rating to a “sell” rating in a research report on Thursday.
CBTX traded down $0.04 during trading hours on Thursday, reaching $29.52. 29,700 shares of the company’s stock traded hands, compared to its average volume of 35,967. The firm has a 50-day moving average price of $28.53 and a 200 day moving average price of $28.55. CBTX has a 52-week low of $25.92 and a 52-week high of $35.55. The firm has a market capitalization of $771.39 million, a PE ratio of 15.62 and a beta of 1.10. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.26.
In other CBTX news, Director Joe Sr Penland, Sr. bought 9,695 shares of CBTX stock in a transaction that occurred on Thursday, October 31st. The shares were bought at an average cost of $28.87 per share, with a total value of $279,894.65. Corporate insiders own 29.24% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in CBTX by 17.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,109 shares of the company’s stock valued at $145,000 after purchasing an additional 766 shares during the last quarter. Acadian Asset Management LLC grew its stake in CBTX by 2.0% during the 2nd quarter. Acadian Asset Management LLC now owns 55,973 shares of the company’s stock valued at $1,576,000 after purchasing an additional 1,083 shares during the last quarter. Bank of Montreal Can purchased a new stake in CBTX during the 2nd quarter valued at about $44,000. Rhumbline Advisers grew its stake in CBTX by 8.7% during the 3rd quarter. Rhumbline Advisers now owns 29,594 shares of the company’s stock valued at $825,000 after purchasing an additional 2,367 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in CBTX by 7.9% during the 2nd quarter. Bank of America Corp DE now owns 36,427 shares of the company’s stock valued at $1,025,000 after purchasing an additional 2,681 shares during the last quarter. Institutional investors and hedge funds own 28.11% of the company’s stock.
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.
Recommended Story: How to invest using market indexes
Receive News & Ratings for CBTX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBTX and related companies with MarketBeat.com's FREE daily email newsletter.