CBTX Bumps Up Quarterly Dividend By 30%

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.

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.

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