CBTX, Inc. (NASDAQ:CBTX – Get Rating) announced a quarterly dividend on Wednesday, September 21st, investing.com reports. Investors of record on Thursday, September 29th will be given a dividend of 0.13 per share on Friday, October 14th. This represents a $0.52 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, September 28th.
CBTX has increased its dividend payment by an average of 37.5% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. CBTX has a payout ratio of 18.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect CBTX to earn $3.14 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 16.6%.
CBTX Trading Up 0.3 %
NASDAQ CBTX traded up $0.09 during trading on Friday, hitting $30.98. 1,080 shares of the company traded hands, compared to its average volume of 139,885. CBTX has a 12 month low of $26.06 and a 12 month high of $33.10. The business has a fifty day simple moving average of $30.52 and a 200 day simple moving average of $29.36. The company has a market capitalization of $759.63 million, a P/E ratio of 20.87 and a beta of 0.95.
Hedge Funds Weigh In On CBTX
Several institutional investors have recently bought and sold shares of CBTX. Bank of America Corp DE increased its stake in shares of CBTX by 14.3% in the first quarter. Bank of America Corp DE now owns 38,266 shares of the company’s stock worth $1,187,000 after purchasing an additional 4,801 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of CBTX by 94.5% in the first quarter. Goldman Sachs Group Inc. now owns 32,801 shares of the company’s stock worth $1,017,000 after purchasing an additional 15,937 shares during the period. Invesco Ltd. increased its stake in shares of CBTX by 16.4% in the first quarter. Invesco Ltd. now owns 27,290 shares of the company’s stock worth $846,000 after purchasing an additional 3,841 shares during the period. Rhumbline Advisers increased its stake in shares of CBTX by 5.7% in the second quarter. Rhumbline Advisers now owns 26,442 shares of the company’s stock worth $703,000 after purchasing an additional 1,420 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of CBTX by 38.8% in the first quarter. Prudential Financial Inc. now owns 21,480 shares of the company’s stock worth $666,000 after purchasing an additional 6,000 shares during the period. 46.78% of the stock is currently owned by institutional investors.
CBTX Company Profile
CBTX, Inc operates as the bank holding company for CommunityBank of Texas, National Association that provides commercial banking products and services to small and mid-sized businesses, and professionals in the United States. The company offers demand, money market, savings, and time deposit accounts, as well as certificates of deposit; commercial and industrial, commercial real estate, construction and development, 1-4 family residential mortgage, multi-family residential, consumer, and agricultural loans; and treasury and online banking services.
- Get a free copy of the StockNews.com research report on CBTX (CBTX)
- 2 Semiconductor Stocks To Watch For Reversals
- Will Crowdstrike Get A Boost From Increased EPS Guidance?
- Are Layoffs At A Small-Cap Tech A Bellwether For Housing Stocks?
- Is Costco’s Post-Earnings Price Weakness A Good Time To Buy?
- The Institutions Hold On To Darden Restaurants International
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.