CBTX Inc (NASDAQ:CBTX) declared a quarterly dividend on Friday, June 19th, Zacks reports. Investors of record on Wednesday, July 1st will be given a dividend of 0.10 per share on Wednesday, July 15th. This represents a $0.40 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, June 30th.
CBTX has a dividend payout ratio of 33.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect CBTX to earn $1.30 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 30.8%.
CBTX opened at $20.08 on Monday. The stock’s 50-day moving average price is $19.30 and its 200 day moving average price is $23.53. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.12. CBTX has a 12-month low of $12.50 and a 12-month high of $31.73. The firm has a market cap of $500.98 million, a price-to-earnings ratio of 10.62 and a beta of 1.27.
CBTX (NASDAQ:CBTX) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.02). CBTX had a return on equity of 9.01% and a net margin of 27.64%. The company had revenue of $36.55 million for the quarter, compared to analysts’ expectations of $37.15 million. On average, research analysts forecast that CBTX will post 1.14 earnings per share for the current year.
In other news, Director Joe Sr Penland, Sr. purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was bought at an average cost of $20.48 per share, for a total transaction of $204,800.00. Also, Director Joe Sr Penland, Sr. purchased 13,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were purchased at an average price of $18.11 per share, with a total value of $235,430.00. In the last 90 days, insiders have acquired 38,000 shares of company stock worth $698,680. 30.07% of the stock is currently owned by insiders.
A number of research firms have recently commented on CBTX. Zacks Investment Research downgraded CBTX from a “hold” rating to a “sell” rating in a report on Monday, April 27th. TheStreet downgraded CBTX from a “b” rating to a “d” rating in a report on Monday, March 23rd. BidaskClub upgraded CBTX from a “sell” rating to a “hold” rating in a report on Friday, May 29th. Stephens upgraded CBTX from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 12th. Finally, ValuEngine downgraded CBTX from a “hold” rating to a “sell” rating in a report on Tuesday, April 14th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $33.00.
CBTX Company Profile
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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