CBTX Inc (NASDAQ:CBTX) Short Interest Up 57.1% in January

CBTX Inc (NASDAQ:CBTX) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 80,100 shares, a growth of 57.1% from the December 31st total of 51,000 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily trading volume, of 39,600 shares, the days-to-cover ratio is presently 2.0 days.

In other news, Director Joe Sr Penland, Sr. bought 9,695 shares of the stock in a transaction on Thursday, October 31st. The stock was acquired at an average cost of $28.87 per share, for a total transaction of $279,894.65. 29.24% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System raised its position in shares of CBTX by 161.8% in the 4th quarter. California Public Employees Retirement System now owns 23,140 shares of the company’s stock worth $720,000 after acquiring an additional 14,300 shares in the last quarter. E&G Advisors LP bought a new position in shares of CBTX in the 4th quarter worth $940,000. Millennium Management LLC raised its position in shares of CBTX by 55.1% in the 3rd quarter. Millennium Management LLC now owns 125,017 shares of the company’s stock worth $3,485,000 after acquiring an additional 44,408 shares in the last quarter. Sunbelt Securities Inc. bought a new position in shares of CBTX in the 3rd quarter worth $5,766,000. Finally, Russell Investments Group Ltd. raised its position in shares of CBTX by 42.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 31,108 shares of the company’s stock worth $867,000 after acquiring an additional 9,332 shares in the last quarter. 28.49% of the stock is owned by hedge funds and other institutional investors.

Shares of CBTX stock traded up $0.09 during mid-day trading on Tuesday, hitting $31.05. The stock had a trading volume of 26,822 shares, compared to its average volume of 44,585. CBTX has a 12-month low of $25.92 and a 12-month high of $34.34. The firm has a market capitalization of $814.17 million, a P/E ratio of 15.00 and a beta of 1.11. The firm’s 50-day moving average is $30.89 and its two-hundred day moving average is $29.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.07 and a quick ratio of 1.07.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Tuesday, December 31st. CBTX’s dividend payout ratio is 21.16%.

Several equities research analysts have weighed in on CBTX shares. Zacks Investment Research upgraded CBTX from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Thursday, January 9th. TheStreet cut CBTX from a “b-” rating to a “c+” rating in a report on Friday, January 3rd.

CBTX Company Profile

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 offers various deposit products, including demand, savings, money market, and time accounts; 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, and agricultural loans.

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