Brokerages Set $24.50 Price Target for Spirit of Texas Bancshares Inc (STXB)

Shares of Spirit of Texas Bancshares Inc (NASDAQ:STXB) have been given an average broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company. Spirit of Texas Bancshares’ rating score has declined by 100% from 90 days ago as a result of various analysts’ ratings changes.

Analysts have set a 1 year consensus price objective of $24.50 for the company and are expecting that the company will post $0.31 earnings per share for the current quarter, according to Zacks. Zacks has also given Spirit of Texas Bancshares an industry rank of 186 out of 257 based on the ratings given to related companies.

Several research firms recently commented on STXB. Stephens reaffirmed a “buy” rating and set a $27.00 target price on shares of Spirit of Texas Bancshares in a report on Wednesday, October 24th. 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 research report on Tuesday, September 4th. Finally, Piper Jaffray Companies reissued a “neutral” rating and set a $22.00 price target on shares of Spirit of Texas Bancshares in a research report on Tuesday.

Shares of NASDAQ:STXB traded up $1.25 during trading on Friday, reaching $20.56. The company had a trading volume of 18,096 shares, compared to its average volume of 27,522. Spirit of Texas Bancshares has a 12 month low of $16.70 and a 12 month high of $22.56. 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 issued its quarterly earnings results on Tuesday, October 23rd. The company reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.01). The company had revenue of $14.26 million during the quarter. Spirit of Texas Bancshares had a return on equity of 6.96% and a net margin of 12.89%. Equities research analysts predict that Spirit of Texas Bancshares will post 1.16 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Spirit of Texas Bancshares in the second quarter worth approximately $5,399,000. BlackRock Inc. purchased a new position in shares of Spirit of Texas Bancshares in the second quarter worth approximately $2,179,000. State of Wisconsin Investment Board purchased a new position in shares of Spirit of Texas Bancshares in the second quarter worth approximately $2,060,000. Vanguard Group Inc. boosted its holdings in shares of Spirit of Texas Bancshares by 134.9% in the third 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. Finally, Clover Partners L.P. boosted its holdings in shares of Spirit of Texas Bancshares by 219.4% in the third 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. 25.65% 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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