Panagora Asset Management Inc. Boosts Position in CBTX Inc (CBTX)

Panagora Asset Management Inc. boosted its stake in CBTX Inc (NASDAQ:CBTX) by 60.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,328 shares of the company’s stock after acquiring an additional 15,262 shares during the quarter. Panagora Asset Management Inc. owned 0.16% of CBTX worth $1,433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. lifted its position in CBTX by 11.2% in the 3rd quarter. BlackRock Inc. now owns 1,079,975 shares of the company’s stock valued at $38,382,000 after acquiring an additional 108,825 shares in the last quarter. Millennium Management LLC lifted its position in CBTX by 27.1% in the 2nd quarter. Millennium Management LLC now owns 422,338 shares of the company’s stock valued at $13,958,000 after acquiring an additional 90,048 shares in the last quarter. Northern Trust Corp lifted its position in CBTX by 485.9% in the 2nd quarter. Northern Trust Corp now owns 216,706 shares of the company’s stock valued at $7,162,000 after acquiring an additional 179,721 shares in the last quarter. Bank of New York Mellon Corp lifted its position in CBTX by 17.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 67,982 shares of the company’s stock valued at $2,416,000 after acquiring an additional 10,256 shares in the last quarter. Finally, Chicago Equity Partners LLC bought a new stake in CBTX in the 3rd quarter valued at $1,807,000. 28.85% of the stock is currently owned by institutional investors and hedge funds.

CBTX opened at $31.78 on Friday. The firm has a market capitalization of $825.07 million and a P/E ratio of 20.24. CBTX Inc has a 12 month low of $27.00 and a 12 month high of $38.71. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.01.

CBTX (NASDAQ:CBTX) last posted its quarterly earnings data on Thursday, October 25th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.46 by $0.06. CBTX had a net margin of 24.61% and a return on equity of 8.53%. The business had revenue of $35.05 million for the quarter. As a group, equities analysts forecast that CBTX Inc will post 1.81 EPS for the current year.

In other CBTX news, Director Joe Sr Penland, Sr. purchased 30,670 shares of the business’s stock in a transaction on 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 purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 29.10% of the company’s stock.

Several equities research analysts recently commented on CBTX shares. Zacks Investment Research raised shares of 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. Stephens set a $37.00 price objective on shares of CBTX and gave the company a “buy” rating in a research report on Friday, November 16th. Finally, ValuEngine cut shares of CBTX from a “hold” rating to a “sell” rating in a research report on Wednesday, December 5th.

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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.

See Also: Preferred Stock

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Institutional Ownership by Quarter for CBTX (NASDAQ:CBTX)

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