CBTX (NASDAQ:CBTX) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued on Monday, Zacks.com reports. The brokerage currently has a $35.00 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.76% from the company’s current price.
According to Zacks, “CBTX, Inc. is a bank holding company. It provides personal and commercial banking, real estate loans, and investment services as well as offers deposits, debit and credit cards, cash management, treasury, and online banking services. CBTX, Inc. is based in TX, United States. “
A number of other equities research analysts have also weighed in on the stock. Keefe, Bruyette & Woods lowered shares of CBTX from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $25.00 to $27.00 in a report on Friday, January 29th. Stephens lowered shares of CBTX from an “overweight” rating to an “equal weight” rating and set a $29.00 price objective for the company. in a research note on Friday, January 29th.
CBTX opened at $31.60 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. CBTX has a fifty-two week low of $13.82 and a fifty-two week high of $33.29. The firm has a market capitalization of $777.17 million, a PE ratio of 27.48 and a beta of 1.03. The company’s 50-day moving average is $31.50 and its 200 day moving average is $26.80.
CBTX (NASDAQ:CBTX) last posted its earnings results on Tuesday, April 27th. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.06. CBTX had a net margin of 18.21% and a return on equity of 5.35%. The company had revenue of $36.20 million for the quarter, compared to analyst estimates of $35.00 million. As a group, analysts expect that CBTX will post 0.92 EPS for the current year.
A number of large investors have recently bought and sold shares of the business. Cornerstone Investment Partners LLC purchased a new stake in CBTX in the 1st quarter valued at about $276,000. Icon Wealth Partners LLC purchased a new stake in shares of CBTX during the 1st quarter worth approximately $624,000. Dimensional Fund Advisors LP increased its stake in shares of CBTX by 5.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 289,112 shares of the company’s stock worth $7,376,000 after purchasing an additional 14,076 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of CBTX by 524.6% during the 4th quarter. JPMorgan Chase & Co. now owns 63,702 shares of the company’s stock worth $1,626,000 after purchasing an additional 53,503 shares during the last quarter. Finally, Truist Financial Corp increased its stake in shares of CBTX by 2.9% during the 4th quarter. Truist Financial Corp now owns 52,282 shares of the company’s stock worth $1,334,000 after purchasing an additional 1,482 shares during the last quarter. Hedge funds and other institutional investors own 33.53% 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 products and services to small and mid-sized businesses, and professionals in the United States. It offers various deposit products, including demand, savings, money market, and time deposits; 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, agricultural loans, and treasury services, as well as online banking services.
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