CBTX Inc (NASDAQ:CBTX) Sees Significant Decline in Short Interest

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CBTX Inc (NASDAQ:CBTX) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 160,000 shares, a decrease of 37.0% from the July 31st total of 254,100 shares. Based on an average daily trading volume, of 38,500 shares, the short-interest ratio is currently 4.2 days. Currently, 0.9% of the shares of the company are short sold.

Shares of NASDAQ CBTX traded up $0.58 during midday trading on Friday, reaching $29.21. The stock had a trading volume of 3,840 shares, compared to its average volume of 28,245. The stock has a 50-day moving average of $28.29 and a 200-day moving average of $29.73. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $683.28 million, a price-to-earnings ratio of 15.28 and a beta of 1.09. CBTX has a 12-month low of $25.92 and a 12-month high of $38.44.

CBTX (NASDAQ:CBTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.10. The firm had revenue of $41.60 million during the quarter. CBTX had a net margin of 31.41% and a return on equity of 10.54%. As a group, analysts forecast that CBTX will post 1.8 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of CBTX by 17.6% in the second quarter. JPMorgan Chase & Co. now owns 5,109 shares of the company’s stock worth $145,000 after purchasing an additional 766 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of CBTX by 2.0% in the second quarter. Acadian Asset Management LLC now owns 55,973 shares of the company’s stock worth $1,576,000 after purchasing an additional 1,083 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of CBTX in the second quarter worth $44,000. Bank of America Corp DE increased its stake in shares of CBTX by 7.9% in the second quarter. Bank of America Corp DE now owns 36,427 shares of the company’s stock worth $1,025,000 after purchasing an additional 2,681 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of CBTX in the second quarter worth $96,000. 28.12% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have commented on CBTX. Zacks Investment Research cut shares of CBTX from a “hold” rating to a “sell” rating in a report on Friday, August 16th. Stephens reissued a “hold” rating and issued a $31.00 price objective on shares of CBTX in a research note on Tuesday, July 30th.

About CBTX

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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