Zacks: Analysts Set $31.00 Target Price for CBTX Inc (NASDAQ:CBTX)

Shares of CBTX Inc (NASDAQ:CBTX) have been given a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.

Brokers have set a one year consensus target price of $31.00 for the company, according to Zacks. Zacks has also assigned CBTX an industry rank of 145 out of 256 based on the ratings given to related companies.

Several research firms recently weighed in on CBTX. Zacks Investment Research cut CBTX from a “hold” rating to a “sell” rating in a report on Friday, August 16th. Stephens reaffirmed a “hold” rating and issued a $31.00 price objective on shares of CBTX in a report on Tuesday, July 30th.

Several hedge funds have recently added to or reduced their stakes in CBTX. Susquehanna International Group LLP bought a new position in CBTX during the second quarter worth about $232,000. Nuveen Asset Management LLC acquired a new position in shares of CBTX during the 2nd quarter worth approximately $2,164,000. Marshall Wace LLP bought a new position in shares of CBTX during the second quarter worth approximately $209,000. Morgan Stanley increased its holdings in shares of CBTX by 44.8% during the second quarter. Morgan Stanley now owns 16,154 shares of the company’s stock worth $455,000 after purchasing an additional 4,995 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of CBTX by 7.9% during the second quarter. Bank of America Corp DE now owns 36,427 shares of the company’s stock worth $1,025,000 after purchasing an additional 2,681 shares during the period. Institutional investors and hedge funds own 28.12% of the company’s stock.

CBTX stock traded up $0.71 during trading hours on Friday, hitting $28.17. The company had a trading volume of 33,078 shares, compared to its average volume of 36,606. The firm has a 50-day moving average of $28.29 and a 200 day moving average of $29.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $707.88 million, a PE ratio of 14.90 and a beta of 1.09. CBTX has a one year low of $25.92 and a one year high of $38.44.

CBTX (NASDAQ:CBTX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. As a group, research analysts expect that CBTX will post 1.8 earnings per share for the current year.

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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