We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
CBTX Reinstates and Announces New Share Repurchase Plan
Read MoreHide Full Article
With an aim to enhance shareholders’ value, CBTX, Inc. announced the reinstatement of its share repurchase program. The buyback plan was suspended in March in the wake of business disruptions caused by the coronavirus pandemic.
Per the program, management is authorized to repurchase up to $40 million worth of shares through September. This plan was announced in July 2019. As of Jun 30, 2020, CBTX had 1.65 million shares remaining under the buyback authority.
Also, CBTX announced a new buyback authorization. Under this, the company will repurchase up to $40 million worth of shares once the current authorization expires. The new plan is set to expire on Sep 30, 2021.
Repurchases under both the programs can be executed either through the open market or privately-negotiated transactions, depending on the market conditions and other factors.
Additionally, CBTX regularly pays quarterly dividend. The last dividend of 10 cents per share was paid out on Jul 15 to shareholders of record as on Jul 1. Considering last day’s closing price of $15.19, CBTX’s dividend yield currently stands at 2.63%. Earlier in March 2019, the bank had announced dividend hike of 50%.
Given a robust liquidity position and a lower debt-equity ratio compared with its peers, the company is expected to sustain its capital deployment activities. Hence, through consistent dividend payments and buybacks, the company is likely to continue enhancing shareholder value.
Shares of CBTX have lost 46.1% over the past year compared with the industry’s 30.6% fall.
Similar to CBTX, several small and mid-sized banks had suspended share repurchases in mid-March following the virus outbreak to maintain strong liquidity position. Some of these include Hilltop Holdings Inc. (HTH - Free Report) , Hancock Whitney Corp (HWC - Free Report) and Washington Federal (WAFD - Free Report) . While these banks are yet to resume buyback, we believe this is likely to happen soon as the operating backdrop is gradually turning around.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
Image: Bigstock
CBTX Reinstates and Announces New Share Repurchase Plan
With an aim to enhance shareholders’ value, CBTX, Inc. announced the reinstatement of its share repurchase program. The buyback plan was suspended in March in the wake of business disruptions caused by the coronavirus pandemic.
Per the program, management is authorized to repurchase up to $40 million worth of shares through September. This plan was announced in July 2019. As of Jun 30, 2020, CBTX had 1.65 million shares remaining under the buyback authority.
Also, CBTX announced a new buyback authorization. Under this, the company will repurchase up to $40 million worth of shares once the current authorization expires. The new plan is set to expire on Sep 30, 2021.
Repurchases under both the programs can be executed either through the open market or privately-negotiated transactions, depending on the market conditions and other factors.
Additionally, CBTX regularly pays quarterly dividend. The last dividend of 10 cents per share was paid out on Jul 15 to shareholders of record as on Jul 1. Considering last day’s closing price of $15.19, CBTX’s dividend yield currently stands at 2.63%. Earlier in March 2019, the bank had announced dividend hike of 50%.
Given a robust liquidity position and a lower debt-equity ratio compared with its peers, the company is expected to sustain its capital deployment activities. Hence, through consistent dividend payments and buybacks, the company is likely to continue enhancing shareholder value.
Shares of CBTX have lost 46.1% over the past year compared with the industry’s 30.6% fall.
Currently, CBTX carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Similar to CBTX, several small and mid-sized banks had suspended share repurchases in mid-March following the virus outbreak to maintain strong liquidity position. Some of these include Hilltop Holdings Inc. (HTH - Free Report) , Hancock Whitney Corp (HWC - Free Report) and Washington Federal (WAFD - Free Report) . While these banks are yet to resume buyback, we believe this is likely to happen soon as the operating backdrop is gradually turning around.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>