Spirit of Texas Bancshares (STXB) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Spirit of Texas Bancshares (NASDAQ:STXB) from a sell rating to a hold rating in a research report released on Friday.

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. “

STXB has been the topic of several other research reports. Piper Jaffray Companies raised Spirit of Texas Bancshares from a neutral rating to an overweight rating and raised their price target for the company from $22.00 to $25.00 in a report on Monday, December 3rd. Stephens reaffirmed a buy rating and issued a $27.00 price target on shares of Spirit of Texas Bancshares in a report on Wednesday, October 24th.

STXB traded down $0.23 during trading on Friday, reaching $21.54. 337,212 shares of the company were exchanged, compared to its average volume of 29,995. Spirit of Texas Bancshares has a 12-month low of $16.70 and a 12-month high of $22.60. 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 (NASDAQ:STXB) last released its quarterly earnings results on Tuesday, October 23rd. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate 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. Sell-side analysts anticipate that Spirit of Texas Bancshares will post 1.2 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the business. ELCO Management Co. LLC raised its holdings in shares of Spirit of Texas Bancshares by 17.6% in the 3rd quarter. ELCO Management Co. LLC now owns 23,339 shares of the company’s stock valued at $504,000 after acquiring an additional 3,492 shares in the last quarter. Banc Funds Co. LLC raised its holdings 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 acquiring an additional 6,600 shares in the last quarter. Chicago Equity Partners LLC purchased a new stake in shares of Spirit of Texas Bancshares in the 3rd quarter valued at about $403,000. Northern Trust Corp purchased a new stake in shares of Spirit of Texas Bancshares in the 2nd quarter valued at about $413,000. Finally, Clover Partners L.P. raised its holdings 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 acquiring an additional 54,855 shares in the last quarter. 29.71% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Story: What are Closed-End Mutual Funds?

Get a free copy of the Zacks research report on Spirit of Texas Bancshares (STXB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Spirit of Texas Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit of Texas Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit