CBTX Inc (CBTX) Given $37.00 Consensus Target Price by Brokerages
Shares of CBTX Inc (NASDAQ:CBTX) have earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation. CBTX’s rating score has improved by 57.1% from 90 days ago as a result of various analysts’ ratings changes.
Brokerages have set a 1 year consensus price objective of $37.00 for the company, according to Zacks. Zacks has also given CBTX an industry rank of 72 out of 255 based on the ratings given to its competitors.
Several equities analysts recently issued reports on CBTX shares. Stephens set a $37.00 price objective on CBTX and gave the company a “buy” rating in a research report on Friday, November 16th. Zacks Investment Research raised CBTX from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Friday, November 16th. Finally, ValuEngine raised CBTX from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd.
CBTX (NASDAQ:CBTX) last issued its quarterly earnings results on Wednesday, January 30th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $37.08 million for the quarter. CBTX had a return on equity of 10.25% and a net margin of 31.52%. As a group, analysts forecast that CBTX will post 1.97 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd were issued a dividend of $0.05 per share. The ex-dividend date was Monday, December 31st. This represents a $0.20 annualized dividend and a dividend yield of 0.62%. CBTX’s payout ratio is 10.58%.
In other news, Director Joe Sr Penland, Sr. purchased 30,670 shares of the stock in a transaction dated Tuesday, November 20th. The shares were purchased at an average cost of $34.99 per share, with a total value of $1,073,143.30. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 29.10% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System bought a new position in shares of CBTX during the 2nd quarter valued at $228,000. MetLife Investment Advisors LLC purchased a new stake in shares of CBTX in the 3rd quarter worth $493,000. Engineers Gate Manager LP purchased a new stake in shares of CBTX in the 3rd quarter worth $501,000. Acadian Asset Management LLC purchased a new stake in shares of CBTX in the 3rd quarter worth $509,000. Finally, Jane Street Group LLC purchased a new stake in shares of CBTX in the 3rd quarter worth $516,000. 28.84% of the stock is currently owned by hedge funds and other institutional investors.
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's deposit products include checking and savings accounts, certificates of deposit, and money market accounts; and loan portfolio comprises consumer loans, including residential real estate loans, home equity loans, home equity lines of credit, installment loans, unsecured and secured personal lines of credit, overdraft protection, and letters of credit.
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