CBTX has been the topic of a number of other reports. ValuEngine raised shares of CBTX from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Zacks Investment Research downgraded CBTX from a “hold” rating to a “strong sell” rating in a research note on Friday, September 11th. Finally, Keefe, Bruyette & Woods reduced their price objective on CBTX from $24.00 to $22.00 and set a “market perform” rating for the company in a research note on Friday, July 31st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $28.50.
Shares of NASDAQ CBTX opened at $15.78 on Friday. CBTX has a fifty-two week low of $12.50 and a fifty-two week high of $31.73. The company has a market cap of $393.73 million, a PE ratio of 11.19 and a beta of 1.06. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The business has a 50-day simple moving average of $16.34 and a two-hundred day simple moving average of $18.07.
In other CBTX news, Director Joe Sr Penland, Sr. purchased 7,222 shares of the stock in a transaction on Wednesday, August 5th. The shares were bought at an average cost of $16.17 per share, with a total value of $116,779.74. Following the completion of the acquisition, the director now owns 479,144 shares in the company, valued at $7,747,758.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 30.07% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in CBTX by 2.7% in the 1st quarter. BlackRock Inc. now owns 1,273,716 shares of the company’s stock worth $22,633,000 after purchasing an additional 33,429 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of CBTX by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 977,898 shares of the company’s stock valued at $20,535,000 after purchasing an additional 25,091 shares during the period. State Street Corp boosted its holdings in CBTX by 2.9% during the first quarter. State Street Corp now owns 408,440 shares of the company’s stock worth $7,298,000 after buying an additional 11,367 shares in the last quarter. Wasatch Advisors Inc. grew its position in CBTX by 3.6% during the second quarter. Wasatch Advisors Inc. now owns 302,738 shares of the company’s stock valued at $6,357,000 after buying an additional 10,660 shares during the period. Finally, Geode Capital Management LLC grew its position in CBTX by 7.7% during the first quarter. Geode Capital Management LLC now owns 263,563 shares of the company’s stock valued at $4,683,000 after buying an additional 18,922 shares during the period. Institutional investors own 30.55% of the company’s stock.
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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