CBTX (NASDAQ:CBTX) Stock Rating Upgraded by BidaskClub

CBTX (NASDAQ:CBTX) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Saturday, BidAskClub reports.

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.

CBTX (NASDAQ:CBTX) last released its earnings results on Wednesday, July 29th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.12). The company had revenue of $35.07 million during 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%. On average, sell-side analysts predict that CBTX will post 0.86 earnings per share for the current fiscal year.

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.

Further Reading: Strike Price

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