CBTX increased its quarterly cash dividend by 30% to $0.13 per share. Prior to this, the bank doubled its dividend payout to $0.10 from $0.05 in March 2019.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
CBTX (CBTX) announced that the new dividend will be paid on April 15 to shareholders of record as of April 1.
The company’s annual dividend of $0.52 per share now reflects a dividend yield of 1.69%.
In January, CBTX reported 4Q results. The company’s 4Q earnings declined 18% year-over-year to $0.41 per share but outpaced Street estimates of $0.27. Revenues decreased 3.9% to $36.04 million but exceeded analysts’ expectations of $35.7 million. (See CBTX stock analysis on TipRanks)
Recently, Stephens analyst Matt Olney downgraded the stock to Hold from Buy and maintained a price target of $29 (6% downside potential), citing “valuation and his view that the stock has limited upside from current levels.”
In a note to investors, Olney said, “In the near term, he is concerned that profitability will be pressured by continued core net interest margin compression.”
Overall, the stock has a Hold consensus rating based on 2 Holds. The average analyst price target of $28 implies 9.2% downside potential from current levels. Shares have increased 21.9% so far this year.
According to TipRanks’ Smart Score system, CBTX gets a 6 out of 10, which indicates that the stock is likely to perform in line with market averages.
Related News:
Equity Lifestyle Bumps Up Quarterly Dividend By 5.8%; Street Sees 10% Upside
Qualcomm Bumps Up Quarterly Dividend By 5%; Street Sees 34% Upside
ConocoPhillips To Buy Back $1.5B In Stock; Shares Gain 3%
