CBTX (NASDAQ:CBTX) Stock Rating Upgraded by TheStreet

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.

CBTX (NASDAQ:CBTX) last announced its earnings results on Thursday, October 24th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. CBTX had a return on equity of 10.27% and a net margin of 30.50%. The company had revenue of $38.69 million for the quarter. Equities analysts predict that CBTX will post 1.8 EPS for the current fiscal year.

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.

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 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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