Spirit of Texas Bancshares (NASDAQ:STXB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.
According to Zacks, “Spirit of Texas Bancshares Inc. is a bank holding company. It offers commercial and retail banking services. The company provides checking and savings accounts; commercial, consumer, mortgage, SBA and foreign national lending services and treasury management services. It operates primarily in College Station, Colleyville, Conroe, Dallas, Fort Worth, Grapevine, Clear Lake, Post Oak Road, Richmond Ave, Stafford, Magnolia, Tomball, Woodlands Central, Woodlands North and Woodlands West. Spirit of Texas Bancshares Inc. is based in Texas, United States. “
A number of other research firms also recently commented on STXB. Stephens reiterated a “buy” rating and issued a $27.00 price objective on shares of Spirit of Texas Bancshares in a report on Wednesday, October 24th. Piper Jaffray Companies reiterated a “neutral” rating and issued a $22.00 price objective on shares of Spirit of Texas Bancshares in a report on Tuesday, November 20th.
Spirit of Texas Bancshares (NASDAQ:STXB) last released its quarterly earnings data on Tuesday, October 23rd. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Spirit of Texas Bancshares had a net margin of 12.89% and a return on equity of 6.96%. The business had revenue of $14.26 million during the quarter. As a group, research analysts anticipate that Spirit of Texas Bancshares will post 1.16 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Spirit of Texas Bancshares by 134.9% during the 3rd quarter. Vanguard Group Inc. now owns 164,964 shares of the company’s stock worth $3,562,000 after buying an additional 94,745 shares during the last quarter. Banc Funds Co. LLC grew its stake in Spirit of Texas Bancshares by 5.3% during the 3rd quarter. Banc Funds Co. LLC now owns 131,600 shares of the company’s stock worth $2,841,000 after buying an additional 6,600 shares during the last quarter. BlackRock Inc. purchased a new position in Spirit of Texas Bancshares during the 2nd quarter worth approximately $2,179,000. State of Wisconsin Investment Board purchased a new position in Spirit of Texas Bancshares during the 2nd quarter worth approximately $2,060,000. Finally, Clover Partners L.P. grew its stake in Spirit of Texas Bancshares by 219.4% during the 3rd quarter. Clover Partners L.P. now owns 79,855 shares of the company’s stock worth $1,724,000 after buying an additional 54,855 shares during the last quarter. Hedge funds and other institutional investors own 25.65% of the company’s stock.
Spirit of Texas Bancshares Company Profile
Spirit of Texas Bancshares, Inc operates as the holding company for Spirit of Texas Bank SSB that provides various commercial and retail banking services to small and medium-sized businesses and individuals. It offers checking accounts, money market accounts, savings accounts, certificates of deposit, and IRA accounts, The company also provides commercial and industrial loans; 1-4 single family residential real estate loans; construction, land, and development loans; commercial real estate loans, such as owner-occupied commercial real estate loans, other commercial real estate loans, and multifamily loans and farmland; consumer loans and leases; and municipal and other loans.
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