CBTX (CBTX) Downgraded by ValuEngine

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ValuEngine cut shares of CBTX (NASDAQ:CBTX) from a hold rating to a sell rating in a research note released on Wednesday.

Several other brokerages also recently issued reports on CBTX. Zacks Investment Research upgraded shares of CBTX from a sell rating to a hold rating in a research report on Friday, August 17th. Stephens set a $37.00 target price on shares of CBTX and gave the company a buy rating in a research report on Friday, November 16th.

Shares of NASDAQ CBTX opened at $31.73 on Wednesday. The stock has a market cap of $830.25 million and a P/E ratio of 20.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.01 and a current ratio of 1.01. CBTX has a 12-month low of $27.00 and a 12-month high of $38.71.

CBTX (NASDAQ:CBTX) last issued its quarterly earnings results on Thursday, October 25th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.06. The business had revenue of $35.05 million for the quarter. CBTX had a net margin of 24.61% and a return on equity of 8.53%. On average, sell-side analysts forecast that CBTX will post 1.81 earnings per share for the current fiscal year.

In other CBTX news, Director Joe Sr Penland, Sr. bought 30,670 shares of the business’s stock in a transaction on Tuesday, November 20th. The shares were bought at an average cost of $34.99 per share, for a total transaction of $1,073,143.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 29.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its position in CBTX by 59,416.7% during the 1st quarter. Royal Bank of Canada now owns 3,571 shares of the company’s stock valued at $105,000 after purchasing an additional 3,565 shares during the period. UBS Group AG lifted its position in CBTX by 836.6% during the 1st quarter. UBS Group AG now owns 4,786 shares of the company’s stock valued at $141,000 after purchasing an additional 4,275 shares during the period. California Public Employees Retirement System acquired a new position in CBTX during the 2nd quarter valued at about $228,000. MetLife Investment Advisors LLC acquired a new position in CBTX during the 3rd quarter valued at about $493,000. Finally, Engineers Gate Manager LP acquired a new position in CBTX during the 3rd quarter valued at about $501,000. Institutional investors own 28.85% of the company’s stock.

About CBTX

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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