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

CBTX, Inc. (NASDAQ:CBTXGet Rating) Director Michael A. Havard bought 10,477 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The stock was acquired at an average cost of $28.60 per share, with a total value of $299,642.20. Following the completion of the acquisition, the director now owns 58,811 shares of the company’s stock, valued at approximately $1,681,994.60. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of CBTX stock traded down $0.12 on Tuesday, reaching $28.56. The company had a trading volume of 45,961 shares, compared to its average volume of 86,587. The firm has a market cap of $702.75 million, a price-to-earnings ratio of 19.38 and a beta of 0.92. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.95 and a quick ratio of 0.95. The firm’s 50-day moving average price is $28.73 and its two-hundred day moving average price is $29.44. CBTX, Inc. has a 1 year low of $24.72 and a 1 year high of $32.38.

CBTX (NASDAQ:CBTXGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.33 by $0.10. CBTX had a net margin of 24.13% and a return on equity of 6.51%. The company had revenue of $37.96 million during the quarter, compared to analyst estimates of $36.50 million. During the same period in the previous year, the firm earned $0.41 earnings per share. As a group, analysts anticipate that CBTX, Inc. will post 2.08 EPS for the current year.

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

A number of institutional investors have recently bought and sold shares of CBTX. Bank of America Corp DE lifted its stake in CBTX by 14.3% in the first quarter. Bank of America Corp DE now owns 38,266 shares of the company’s stock worth $1,187,000 after purchasing an additional 4,801 shares during the last quarter. Highland Capital Management Fund Advisors L.P. raised its holdings in shares of CBTX by 95.1% in the first quarter. Highland Capital Management Fund Advisors L.P. now owns 213,050 shares of the company’s stock worth $6,605,000 after buying an additional 103,839 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of CBTX by 94.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,801 shares of the company’s stock worth $1,017,000 after acquiring an additional 15,937 shares during the last quarter. PDT Partners LLC purchased a new position in CBTX during the 1st quarter valued at $241,000. Finally, State Street Corp boosted its holdings in CBTX by 24.9% during the 1st quarter. State Street Corp now owns 597,949 shares of the company’s stock valued at $18,613,000 after acquiring an additional 119,096 shares during the period. 42.41% of the stock is currently owned by institutional investors.

CBTX has been the subject of several research reports. TheStreet upgraded shares of CBTX from a “c+” rating to a “b” rating in a research report on Monday, May 2nd. Zacks Investment Research raised shares of CBTX from a “hold” rating to a “strong-buy” rating and set a $32.00 price target for the company in a report on Tuesday, May 24th.

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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