Spirit of Texas Bancshares (NASDAQ:STXB) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Spirit of Texas Bancshares (NASDAQ:STXB) from a hold rating to a buy rating in a research report report published on Thursday, Zacks.com reports. Zacks Investment Research currently has $23.00 price target on the stock.

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. “

Several other analysts have also recently weighed in on STXB. ValuEngine raised Spirit of Texas Bancshares from a sell rating to a hold rating in a research report on Tuesday, December 3rd. Stephens reaffirmed a buy rating and set a $26.00 price objective on shares of Spirit of Texas Bancshares in a research report on Tuesday, November 19th. Finally, BidaskClub cut Spirit of Texas Bancshares from a sell rating to a strong sell rating in a research report on Saturday, February 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $23.96.

Shares of NASDAQ STXB traded down $0.35 during trading hours on Thursday, hitting $20.15. The company’s stock had a trading volume of 20,910 shares, compared to its average volume of 46,181. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.03 and a current ratio of 1.04. The stock has a market cap of $330.87 million, a price-to-earnings ratio of 14.39 and a beta of -0.09. Spirit of Texas Bancshares has a 12 month low of $20.04 and a 12 month high of $23.48. The business has a 50-day simple moving average of $22.00 and a 200-day simple moving average of $21.74.

Spirit of Texas Bancshares (NASDAQ:STXB) last posted its earnings results on Wednesday, January 29th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.05). The business had revenue of $27.28 million during the quarter. Spirit of Texas Bancshares had a return on equity of 8.52% and a net margin of 19.25%. On average, equities research analysts forecast that Spirit of Texas Bancshares will post 1.73 EPS for the current year.

In other news, Director Robert S. Beall acquired 2,519 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were acquired at an average cost of $20.15 per share, with a total value of $50,757.85. Over the last ninety days, insiders have acquired 2,785 shares of company stock worth $56,646 and have sold 3,000 shares worth $69,274. Insiders own 14.98% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of Montreal Can boosted its position in shares of Spirit of Texas Bancshares by 46.9% in the 4th quarter. Bank of Montreal Can now owns 1,734 shares of the company’s stock worth $40,000 after purchasing an additional 554 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Spirit of Texas Bancshares by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,014 shares of the company’s stock worth $760,000 after purchasing an additional 1,152 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Spirit of Texas Bancshares in the 3rd quarter worth approximately $28,000. Citigroup Inc. boosted its position in shares of Spirit of Texas Bancshares by 100.9% in the 4th quarter. Citigroup Inc. now owns 2,756 shares of the company’s stock worth $63,000 after purchasing an additional 1,384 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Spirit of Texas Bancshares by 7.9% in the 4th quarter. Rhumbline Advisers now owns 19,144 shares of the company’s stock worth $440,000 after purchasing an additional 1,394 shares in the last quarter. 43.50% of the stock is currently 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.

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