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 Friday.
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 reports. Piper Jaffray Companies upgraded Spirit of Texas Bancshares from a neutral rating to an overweight rating and raised their price target for the stock from $22.00 to $25.00 in a research report on Monday, December 3rd. Stephens restated a buy rating and set a $27.00 price target on shares of Spirit of Texas Bancshares in a research report on Wednesday, October 24th.
Spirit of Texas Bancshares (NASDAQ:STXB) last posted its quarterly earnings results on Tuesday, October 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Spirit of Texas Bancshares had a return on equity of 6.96% and a net margin of 12.89%. The company had revenue of $14.26 million for the quarter. Analysts expect that Spirit of Texas Bancshares will post 1.2 EPS for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Chicago Equity Partners LLC bought a new position in Spirit of Texas Bancshares during the 3rd quarter worth approximately $403,000. Northern Trust Corp bought a new position in Spirit of Texas Bancshares during the 2nd quarter worth approximately $413,000. ELCO Management Co. LLC grew its position in Spirit of Texas Bancshares by 17.6% during the 3rd quarter. ELCO Management Co. LLC now owns 23,339 shares of the company’s stock worth $504,000 after acquiring an additional 3,492 shares during the last quarter. Clover Partners L.P. grew its position in shares of Spirit of Texas Bancshares by 219.4% in the 3rd 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. Finally, State of Wisconsin Investment Board bought a new stake in shares of Spirit of Texas Bancshares in the 2nd quarter worth approximately $2,060,000. Institutional investors and hedge funds own 29.71% 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, 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.
Featured Story: Do Tariffs Work?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Spirit of Texas Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit of Texas Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.