CBTX Inc (NASDAQ:CBTX) Sees Large Drop in Short Interest

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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.

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 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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