Spirit of Texas Bancshares (STXB) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Spirit of Texas Bancshares (NASDAQ:STXB) from a sell rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

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. Sandler O’Neill started coverage on Spirit of Texas Bancshares in a research report on Monday, April 15th. They issued a buy rating and a $21.32 target price on the stock. Stephens set a $26.00 target price on Spirit of Texas Bancshares and gave the company a buy rating in a research report on Tuesday, February 5th.

Shares of NASDAQ STXB opened at $22.16 on Wednesday. The company has a market cap of $301.10 million and a price-to-earnings ratio of 21.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.03. Spirit of Texas Bancshares has a twelve month low of $16.70 and a twelve month high of $23.53.

Spirit of Texas Bancshares (NASDAQ:STXB) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. Spirit of Texas Bancshares had a return on equity of 7.76% and a net margin of 15.80%. The firm had revenue of $18.49 million for the quarter, compared to the consensus estimate of $19.00 million. On average, analysts anticipate that Spirit of Texas Bancshares will post 1.68 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. RMB Capital Management LLC grew its position in shares of Spirit of Texas Bancshares by 2.0% in the first quarter. RMB Capital Management LLC now owns 947,284 shares of the company’s stock valued at $20,082,000 after purchasing an additional 18,247 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Spirit of Texas Bancshares by 11.2% in the first quarter. Geode Capital Management LLC now owns 115,776 shares of the company’s stock valued at $2,454,000 after purchasing an additional 11,663 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Spirit of Texas Bancshares by 13.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 24,333 shares of the company’s stock valued at $516,000 after purchasing an additional 2,843 shares during the last quarter. Northern Trust Corp grew its position in shares of Spirit of Texas Bancshares by 1.9% in the first quarter. Northern Trust Corp now owns 101,403 shares of the company’s stock valued at $2,150,000 after purchasing an additional 1,849 shares during the last quarter. Finally, Kennedy Capital Management Inc. grew its position in shares of Spirit of Texas Bancshares by 75.6% in the first quarter. Kennedy Capital Management Inc. now owns 25,999 shares of the company’s stock valued at $551,000 after purchasing an additional 11,192 shares during the last quarter. 29.44% of the stock is currently owned by 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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