CBTX Inc (NASDAQ:CBTX) announced a quarterly dividend on Friday, June 19th, Zacks reports. Shareholders 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 is Tuesday, June 30th.
CBTX has a dividend payout ratio of 33.9% meaning its dividend is sufficiently covered by earnings. Equities research 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%.
Shares of CBTX stock traded up $0.13 during trading hours on Friday, reaching $20.08. The company had a trading volume of 206,942 shares, compared to its average volume of 77,558. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a fifty day moving average of $19.30 and a 200-day moving average of $23.53. The company has a market capitalization of $500.98 million, a price-to-earnings ratio of 10.62 and a beta of 1.27. CBTX has a 12-month low of $12.50 and a 12-month high of $31.73.
In related news, Director Joe Sr Penland, Sr. acquired 10,000 shares of CBTX stock in a transaction dated Tuesday, May 26th. The shares were acquired at an average cost of $20.48 per share, for a total transaction of $204,800.00. Also, Director Joe Sr Penland, Sr. acquired 13,000 shares of CBTX stock in a transaction dated Thursday, May 21st. The stock was bought at an average price of $18.11 per share, for a total transaction of $235,430.00. Insiders have acquired 38,000 shares of company stock worth $698,680 over the last 90 days. 30.07% of the stock is owned by insiders.
A number of research analysts recently commented on CBTX shares. ValuEngine cut CBTX from a “hold” rating to a “sell” rating in a report on Tuesday, April 14th. Stephens upgraded CBTX from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 12th. Zacks Investment Research cut CBTX from a “hold” rating to a “sell” rating in a research note on Monday, April 27th. BidaskClub upgraded CBTX from a “sell” rating to a “hold” rating in a research note on Friday, May 29th. Finally, TheStreet cut CBTX from a “b” rating to a “d” rating in a research note on Monday, March 23rd. Two equities research 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 a consensus rating of “Hold” and an average target price of $33.00.
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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