CBTX (NASDAQ:CBTX) had its price target decreased by Keefe, Bruyette & Woods from $24.00 to $22.00 in a note issued to investors on Friday, AnalystRatings.com reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 39.33% from the stock’s previous close.
Other analysts also recently issued research reports about the stock. Stephens upgraded shares of CBTX from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 12th. BidaskClub cut CBTX from a “hold” rating to a “sell” rating in a research note on Saturday, July 11th. Zacks Investment Research lowered CBTX from a “hold” rating to a “sell” rating in a research note on Monday, April 27th. Finally, ValuEngine raised shares of CBTX from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $28.50.
Shares of CBTX opened at $15.79 on Friday. CBTX has a 52-week low of $12.50 and a 52-week high of $31.73. The company has a quick ratio of 1.05, a current ratio of 1.04 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $18.76 and a two-hundred day simple moving average of $21.37. The company has a market capitalization of $393.98 million, a PE ratio of 11.20 and a beta of 1.27.
CBTX (NASDAQ:CBTX) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.12). The firm had revenue of $35.07 million for the quarter, compared to analyst estimates of $36.50 million. CBTX had a return on equity of 6.63% and a net margin of 21.67%. As a group, equities analysts anticipate that CBTX will post 1.12 earnings per share for the current fiscal year.
In other CBTX news, Director Joe Sr Penland, Sr. acquired 10,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average price 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 stock was acquired at an average price of $17.23 per share, with a total value of $258,450.00. Insiders bought 38,000 shares of company stock valued at $698,680 over the last ninety days. Insiders own 30.07% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in CBTX in the first quarter worth approximately $42,000. Denali Advisors LLC acquired a new stake in shares of CBTX in the 2nd quarter valued at $66,000. Nisa Investment Advisors LLC purchased a new stake in shares of CBTX during the 2nd quarter worth $69,000. Citigroup Inc. grew its stake in shares of CBTX by 46.9% during the first quarter. Citigroup Inc. now owns 5,532 shares of the company’s stock worth $98,000 after purchasing an additional 1,766 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in CBTX by 71.6% in the fourth quarter. Victory Capital Management Inc. now owns 5,544 shares of the company’s stock valued at $173,000 after buying an additional 2,314 shares during the last quarter. Institutional investors and hedge funds own 29.83% 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.
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