Michael A. Havard Acquires 10,477 Shares of CBTX, Inc. (NASDAQ:CBTX) Stock

CBTX, Inc. (NASDAQ:CBTXGet Rating) Director Michael A. Havard acquired 10,477 shares of the firm’s stock in a transaction dated Friday, June 3rd. The shares were acquired at an average price of $28.60 per share, with a total value of $299,642.20. Following the acquisition, the director now owns 58,811 shares in the company, valued at approximately $1,681,994.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of NASDAQ:CBTX traded down $0.12 on Tuesday, hitting $28.56. 45,961 shares of the company were exchanged, compared to its average volume of 86,587. CBTX, Inc. has a 1-year low of $24.72 and a 1-year high of $32.38. The stock’s 50 day moving average price is $28.73 and its 200 day moving average price is $29.44. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $702.75 million, a P/E ratio of 19.38 and a beta of 0.92.

CBTX (NASDAQ:CBTXGet Rating) last issued its earnings results on Thursday, April 28th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. CBTX had a return on equity of 6.51% and a net margin of 24.13%. The company had revenue of $37.96 million during the quarter, compared to analyst estimates of $36.50 million. During the same quarter last year, the business posted $0.41 EPS. On average, equities analysts predict that CBTX, Inc. will post 2.08 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Friday, April 1st were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Thursday, March 31st. CBTX’s dividend payout ratio is presently 35.14%.

Institutional investors have recently added to or reduced their stakes in the stock. Denali Advisors LLC purchased a new stake in CBTX in the fourth quarter valued at approximately $99,000. BNP Paribas Arbitrage SA lifted its stake in CBTX by 114.7% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,113 shares of the company’s stock valued at $135,000 after acquiring an additional 2,731 shares during the period. Marshall Wace LLP acquired a new stake in CBTX during the 4th quarter valued at approximately $162,000. Morgan Stanley boosted its holdings in shares of CBTX by 89.7% in the 2nd quarter. Morgan Stanley now owns 6,154 shares of the company’s stock valued at $167,000 after acquiring an additional 2,910 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of CBTX by 222.9% in the third quarter. Barclays PLC now owns 7,521 shares of the company’s stock worth $199,000 after acquiring an additional 5,192 shares during the period. 42.41% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have commented on CBTX shares. Zacks Investment Research upgraded CBTX from a “hold” rating to a “strong-buy” rating and set a $32.00 price target for the company in a research note on Tuesday, May 24th. TheStreet upgraded shares of CBTX from a “c+” rating to a “b” rating in a report on Monday, May 2nd.

CBTX Company Profile (Get Rating)

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. The company offers demand, money market, savings, and time deposit accounts, as well as certificates of deposit; commercial and industrial, commercial real estate, construction and development, 1-4 family residential mortgage, multi-family residential, consumer, and agricultural loans; and treasury and online banking services.

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