CBTX (NASDAQ:CBTX) Rating Upgraded to Strong-Buy at Zacks Investment Research

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CBTX (NASDAQ: CBTX – Get an assessment) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released Tuesday, Zacks.com reports. The brokerage currently has a price target of $32.00 on the stock. Zacks Investment Research’s price target indicates a potential upside of 16.32% from the current stock price.

According to Zacks, “CBTX, Inc. is a bank holding company. It provides personal and commercial banking, home loans and investment services, as well as deposit, debit and credit card, cash management, cash and online banking services. CBTX, Inc. is based in Texas, USA. “

Separately, TheStreet upgraded CBTX from a “c+” rating to a “b” rating in a Monday, May 2 research report.

NASDAQ: CBTX was down $0.12 in Tuesday’s midday session, hitting $27.51. The company’s shares had a trading volume of 80,489 shares, compared to an average volume of 89,595. CBTX has a fifty-two week low of $24.72 and a fifty-two week high of $32.38 . The company’s 50-day moving average is $29.32 and its 200-day moving average is $29.57. The company has a debt ratio of 0.09, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $676.91 million, a P/E ratio of 18.59 and a beta of 0.92.

CBTX (NASDAQ:CBTX – Get Rating) last released its quarterly results on Thursday, April 28. The company reported earnings per share of $0.43 for the quarter, beating 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 posted revenue of $37.96 million for the quarter, versus a consensus estimate of $36.50 million. During the same quarter of the previous year, the company achieved EPS of $0.41. As a group, analysts expect CBTX to post 1.98 EPS for the current year.

Several large investors have recently changed their positions in CBTX. Denali Advisors LLC bought a new stock position in CBTX during Q4 worth approximately $99,000. BNP Paribas Arbitrage SA increased its position in CBTX shares by 114.7% during the third quarter. BNP Paribas Arbitrage SA now owns 5,113 shares in the company valued at $135,000 after purchasing an additional 2,731 shares last quarter. Marshall Wace LLP bought a new stock position in CBTX during Q4 worth approximately $162,000. Morgan Stanley increased its position in CBTX shares by 89.7% during the 2nd quarter. Morgan Stanley now owns 6,154 shares of the company valued at $167,000 after buying an additional 2,910 shares last quarter. Finally, Barclays PLC increased its position in CBTX shares by 222.9% during the 3rd quarter. Barclays PLC now owns 7,521 shares in the company valued at $199,000 after buying an additional 5,192 shares last quarter. Hedge funds and other institutional investors hold 42.41% of the company’s shares.

CBTX Company Profile (Get an assessment)

CBTX, Inc operates as a bank holding company for CommunityBank of Texas, National Association which provides commercial banking products and services to small and medium businesses and professionals in the United States. The company offers current, money market, savings and term accounts, as well as certificates of deposit; commercial and industrial, commercial real estate, construction and development, 1 to 4 family residential mortgage, multifamily housing, consumer and agricultural loans; and cash and online banking services.

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