Spirit of Texas Bancshares (STXB) Rating Increased to Overweight at Piper Jaffray Companies

Spirit of Texas Bancshares (NASDAQ:STXB) was upgraded by equities research analysts at Piper Jaffray Companies from a “neutral” rating to an “overweight” rating in a research report issued on Monday, Marketbeat.com reports. The firm presently has a $25.00 price objective on the stock, up from their prior price objective of $22.00. Piper Jaffray Companies’ price objective would indicate a potential upside of 14.73% from the company’s current price. Piper Jaffray Companies also issued estimates for Spirit of Texas Bancshares’ FY2018 earnings at $1.20 EPS, Q1 2019 earnings at $0.34 EPS, Q3 2019 earnings at $0.48 EPS, Q4 2019 earnings at $0.50 EPS, FY2019 earnings at $1.71 EPS, Q1 2020 earnings at $0.49 EPS, Q2 2020 earnings at $0.51 EPS, Q3 2020 earnings at $0.54 EPS and FY2020 earnings at $2.10 EPS.

A number of other brokerages also recently weighed in on STXB. Zacks Investment Research raised shares of Spirit of Texas Bancshares from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Tuesday, September 4th. Stephens reissued a “buy” rating and issued a $27.00 price target on shares of Spirit of Texas Bancshares in a report on Wednesday, October 24th.

Shares of Spirit of Texas Bancshares stock opened at $21.79 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.13 and a quick ratio of 1.13. Spirit of Texas Bancshares has a fifty-two week low of $16.70 and a fifty-two week high of $22.56.

Spirit of Texas Bancshares (NASDAQ:STXB) last issued its quarterly earnings results on Tuesday, October 23rd. The company reported $0.29 earnings per share 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 company had revenue of $14.26 million during the quarter. Equities research analysts predict that Spirit of Texas Bancshares will post 1.16 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Spirit of Texas Bancshares by 134.9% in the 3rd quarter. Vanguard Group Inc. now owns 164,964 shares of the company’s stock valued at $3,562,000 after purchasing an additional 94,745 shares during the period. Banc Funds Co. LLC raised its stake in shares of Spirit of Texas Bancshares by 5.3% in the 3rd quarter. Banc Funds Co. LLC now owns 131,600 shares of the company’s stock valued at $2,841,000 after buying an additional 6,600 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Spirit of Texas Bancshares in the 2nd quarter valued at $2,179,000. State of Wisconsin Investment Board acquired a new position in shares of Spirit of Texas Bancshares in the 2nd quarter valued at $2,060,000. Finally, Clover Partners L.P. raised its stake in shares of Spirit of Texas Bancshares by 219.4% in the 3rd quarter. Clover Partners L.P. now owns 79,855 shares of the company’s stock valued at $1,724,000 after buying an additional 54,855 shares in the last quarter. 29.71% of the stock is owned by hedge funds and other institutional investors.

About Spirit of Texas Bancshares

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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