CBTX (CBTX) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of CBTX (NASDAQ:CBTX) from a buy rating to a hold rating in a research note released on Monday.

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. “

Several other research analysts also recently weighed in on the company. Stephens restated a buy rating and issued a $37.00 price target on shares of CBTX in a research note on Monday, October 29th. Keefe, Bruyette & Woods restated a hold rating and issued a $35.00 price target on shares of CBTX in a research note on Friday, July 27th.

CBTX stock opened at $34.35 on Monday. CBTX has a 1-year low of $27.00 and a 1-year high of $38.71. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $891.78 million and a price-to-earnings ratio of 24.71.

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

In other news, Director Joe Sr Penland, Sr. acquired 30,670 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The shares were acquired at an average cost of $34.99 per share, with a total value of $1,073,143.30. The transaction was disclosed in a filing with the SEC, which is available through this link. 29.10% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley raised its holdings in shares of CBTX by 5.2% during the 3rd quarter. Morgan Stanley now owns 42,560 shares of the company’s stock worth $1,513,000 after acquiring an additional 2,095 shares in the last quarter. Teachers Advisors LLC raised its holdings in shares of CBTX by 6.0% during the 3rd quarter. Teachers Advisors LLC now owns 37,185 shares of the company’s stock worth $1,322,000 after acquiring an additional 2,112 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of CBTX during the 3rd quarter worth approximately $493,000. Jane Street Group LLC purchased a new stake in shares of CBTX during the 3rd quarter worth approximately $516,000. Finally, King Luther Capital Management Corp raised its holdings in shares of CBTX by 2,048.2% during the 3rd quarter. King Luther Capital Management Corp now owns 1,280,405 shares of the company’s stock worth $45,506,000 after acquiring an additional 1,220,800 shares in the last quarter. 29.77% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: How to calculate the intrinsic value of a stock

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