CBTX, Inc. (NASDAQ: CBTX) Announces Quarterly Dividend of $0.13
CBTX, Inc. (NASDAQ:CBTX – Get Rating) declared a quarterly dividend on Thursday, March 17, Zacks reports. Investors of record on Friday April 1 will receive a dividend of 0.13 per share on Friday April 15. This represents a dividend of $0.52 on an annualized basis and a yield of 1.68%. The ex-date of this dividend is Thursday, March 31.
CBTX has increased its dividend by 37.5% over the past three years and has increased its dividend every year for the past 1 year. CBTX has a dividend payout ratio of 22.5%, which means its dividend is sufficiently covered by earnings. Analysts expect CBTX to earn $2.63 per share next year, meaning the company should continue to be able to cover its annual dividend of $0.52 with an expected future payout ratio. by 19.8%.
CBTX stock opened at $30.99 on Friday. The company has a debt ratio of 0.09, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50-day moving average price of $30.32 and a 200-day moving average price of $28.72. CBTX has a 52-week low of $24.72 and a 52-week high of $33.29. The company has a market capitalization of $762.66 million, a price-earnings ratio of 21.23 and a beta of 0.93.
CBTX (NASDAQ:CBTX – Get Rating) last released its quarterly results on Thursday, January 27. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.31 per ($0.33). CBTX had a net margin of 24.00% and a return on equity of 6.39%. The company posted revenue of $34.91 million for the quarter, versus a consensus estimate of $33.60 million. In the same quarter of the previous year, the company had earned earnings per share of $0.41. As a group, sell-side analysts expect CBTX to post earnings per share of 1.94 for the current fiscal year.
Institutional investors have recently changed their stock portfolios. Barclays PLC increased its stake in CBTX by 305.0% in Q4. Barclays PLC now owns 30,462 shares in the company worth $884,000 after purchasing an additional 22,941 shares during the period. BlackRock Inc. increased its stake in CBTX by 1.0% during the fourth quarter. BlackRock Inc. now owns 1,333,937 shares of the company valued at $38,683,000 after acquiring 13,246 additional shares last quarter. Wells Fargo & Company MN purchased a new stake in CBTX in Q4 valued at $296,000. Deutsche Bank AG increased its stake in CBTX by 5.5% in the fourth quarter. Deutsche Bank AG now owns 11,169 shares in the company valued at $324,000 after acquiring an additional 582 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in CBTX by 0.8% in the 4th quarter. Parametric Portfolio Associates LLC now owns 43,663 shares of the company worth $1,266,000 after purchasing 342 additional shares in the last quarter. 38.85% of the shares are held by institutional investors.
Separately, Zacks Investment Research upgraded CBTX shares from a “hold” rating to a “buy” rating and set a target price of $32.00 on the stock in a Tuesday, Nov. 30 research note.
About CBTX (Get a rating)
CBTX, Inc operates as a bank holding company, which engages in providing commercial banking solutions to small and medium businesses and local professionals. The company was founded by J. Pat Parsons on January 26, 2007 and is based in Houston, TX.
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