Spirit of Texas Bancshares (STXB) Downgraded by Zacks Investment Research

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Zacks Investment Research lowered shares of Spirit of Texas Bancshares (NASDAQ:STXB) from a hold rating to a sell 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. “

Several other research analysts also recently weighed in on the stock. Sandler O’Neill initiated coverage on shares of Spirit of Texas Bancshares in a research report on Monday, April 15th. They set a buy rating and a $21.32 price target for the company. Stephens set a $26.00 price target on shares of Spirit of Texas Bancshares and gave the stock a buy rating in a research report on Tuesday, February 5th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $23.32.

STXB opened at $21.45 on Wednesday. Spirit of Texas Bancshares has a twelve month low of $16.70 and a twelve month high of $23.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $295.52 million and a P/E ratio of 20.43.

Spirit of Texas Bancshares (NASDAQ:STXB) last released its quarterly earnings results on Wednesday, January 30th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. Spirit of Texas Bancshares had a net margin of 14.71% and a return on equity of 7.99%. The firm had revenue of $16.89 million during the quarter, compared to the consensus estimate of $16.10 million. On average, sell-side analysts expect that Spirit of Texas Bancshares will post 1.68 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its holdings in Spirit of Texas Bancshares by 229.2% in the 4th quarter. Legal & General Group Plc now owns 1,445 shares of the company’s stock valued at $33,000 after acquiring an additional 1,006 shares during the last quarter. Citigroup Inc. raised its holdings in Spirit of Texas Bancshares by 292.5% in the 4th quarter. Citigroup Inc. now owns 2,316 shares of the company’s stock valued at $53,000 after acquiring an additional 1,726 shares during the last quarter. Strs Ohio raised its holdings in Spirit of Texas Bancshares by 316.7% in the 4th quarter. Strs Ohio now owns 2,500 shares of the company’s stock valued at $56,000 after acquiring an additional 1,900 shares during the last quarter. American International Group Inc. raised its holdings in Spirit of Texas Bancshares by 337.3% in the 4th quarter. American International Group Inc. now owns 6,043 shares of the company’s stock valued at $138,000 after acquiring an additional 4,661 shares during the last quarter. Finally, Mendon Capital Advisors Corp raised its holdings in Spirit of Texas Bancshares by 31.2% in the 4th quarter. Mendon Capital Advisors Corp now owns 30,617 shares of the company’s stock valued at $697,000 after acquiring an additional 7,278 shares during the last quarter. Institutional investors own 32.77% of the company’s stock.

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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