Spirit of Texas Bancshares (NASDAQ:STXB) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Spirit of Texas Bancshares (NASDAQ:STXB) from a buy rating to a hold rating in a research report report published on Thursday, 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. “

A number of other research firms have also commented on STXB. Stephens reaffirmed a buy rating and set a $25.00 price target on shares of Spirit of Texas Bancshares in a research report on Thursday, June 13th. Piper Jaffray Companies dropped their price target on Spirit of Texas Bancshares from $26.00 to $25.50 and set an overweight rating on the stock in a research note on Tuesday, July 30th. Finally, Sandler O’Neill assumed coverage on Spirit of Texas Bancshares in a report on Monday, April 15th. They issued a buy rating and a $21.32 target price on the stock.

STXB stock traded up $0.32 during trading on Thursday, hitting $21.88. 835 shares of the company traded hands, compared to its average volume of 79,087. The firm has a market capitalization of $297.38 million, a price-to-earnings ratio of 21.04 and a beta of -0.24. Spirit of Texas Bancshares has a 1 year low of $16.70 and a 1 year high of $23.53. The stock has a 50-day moving average of $22.24. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.03 and a quick ratio of 1.03.

Spirit of Texas Bancshares (NASDAQ:STXB) last issued its earnings results on Wednesday, July 24th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $23.53 million during the quarter, compared to analysts’ expectations of $21.70 million. Spirit of Texas Bancshares had a return on equity of 9.05% and a net margin of 17.19%. As a group, equities analysts predict that Spirit of Texas Bancshares will post 1.62 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of STXB. Legal & General Group Plc raised its stake in Spirit of Texas Bancshares by 229.2% in the fourth quarter. Legal & General Group Plc now owns 1,445 shares of the company’s stock worth $33,000 after buying an additional 1,006 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Spirit of Texas Bancshares by 628.8% during the first quarter. BNP Paribas Arbitrage SA now owns 2,128 shares of the company’s stock worth $45,000 after purchasing an additional 1,836 shares in the last quarter. Citigroup Inc. increased its position in shares of Spirit of Texas Bancshares by 292.5% during the fourth quarter. Citigroup Inc. now owns 2,316 shares of the company’s stock worth $53,000 after purchasing an additional 1,726 shares in the last quarter. American International Group Inc. increased its position in shares of Spirit of Texas Bancshares by 337.3% during the fourth quarter. American International Group Inc. now owns 6,043 shares of the company’s stock worth $138,000 after purchasing an additional 4,661 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Spirit of Texas Bancshares by 11.8% during the first quarter. Rhumbline Advisers now owns 10,646 shares of the company’s stock worth $226,000 after purchasing an additional 1,120 shares in the last quarter. 29.47% of the stock is owned by 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.

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