CBTX Inc (NASDAQ:CBTX) saw a significant decline in short interest in July. As of July 31st, there was short interest totalling 254,100 shares, a decline of 15.4% from the June 30th total of 300,400 shares. Based on an average daily volume of 41,000 shares, the days-to-cover ratio is currently 6.2 days. Currently, 1.4% of the shares of the stock are sold short.
Shares of NASDAQ CBTX traded down $0.57 during midday trading on Wednesday, hitting $27.99. 791 shares of the company’s stock were exchanged, compared to its average volume of 37,474. CBTX has a 12-month low of $26.11 and a 12-month high of $38.45. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $739.98 million, a P/E ratio of 14.94 and a beta of 1.04. The firm has a fifty day moving average price of $28.98.
CBTX (NASDAQ:CBTX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.10. CBTX had a return on equity of 10.54% and a net margin of 31.41%. The company had revenue of $41.60 million during the quarter. On average, equities research analysts forecast that CBTX will post 1.84 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, June 28th. CBTX’s payout ratio is 21.16%.
Several research analysts have recently commented on the company. Zacks Investment Research raised CBTX from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Stephens reissued a “hold” rating and set a $31.00 price objective on shares of CBTX in a report on Tuesday, July 30th.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can bought a new stake in CBTX in the 2nd quarter worth approximately $44,000. Public Employees Retirement System of Ohio bought a new stake in CBTX in the 2nd quarter worth approximately $96,000. Legal & General Group Plc lifted its position in CBTX by 24.8% in the 4th quarter. Legal & General Group Plc now owns 3,465 shares of the company’s stock worth $102,000 after buying an additional 688 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in CBTX by 371,300.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,714 shares of the company’s stock valued at $121,000 after purchasing an additional 3,713 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in CBTX by 17.6% in the second quarter. JPMorgan Chase & Co. now owns 5,109 shares of the company’s stock valued at $145,000 after purchasing an additional 766 shares during the last quarter. 28.23% of the stock is owned by institutional investors.
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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