Spirit of Texas Bancshares (NASDAQ:STXB) Rating Increased to Hold at ValuEngine

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Spirit of Texas Bancshares (NASDAQ:STXB) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Tuesday, ValuEngine reports.

A number of other research firms also recently commented on STXB. Stephens restated a “buy” rating and set a $26.00 price objective on shares of Spirit of Texas Bancshares in a research note on Tuesday, November 19th. Zacks Investment Research upgraded shares of Spirit of Texas Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Spirit of Texas Bancshares presently has a consensus rating of “Buy” and an average price target of $24.21.

Spirit of Texas Bancshares stock opened at $22.42 on Tuesday. The firm has a 50-day moving average of $21.78 and a 200-day moving average of $21.75. Spirit of Texas Bancshares has a one year low of $19.06 and a one year high of $23.53. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.04 and a quick ratio of 1.03. The company has a market cap of $362.83 million, a price-to-earnings ratio of 21.35 and a beta of -0.13.

Spirit of Texas Bancshares (NASDAQ:STXB) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.06). Spirit of Texas Bancshares had a return on equity of 8.46% and a net margin of 17.90%. The business had revenue of $23.16 million for the quarter, compared to analyst estimates of $23.90 million. As a group, sell-side analysts expect that Spirit of Texas Bancshares will post 1.52 earnings per share for the current year.

A number of large investors have recently modified their holdings of STXB. BlackRock Inc. lifted its stake in Spirit of Texas Bancshares by 34.9% in the 2nd quarter. BlackRock Inc. now owns 651,803 shares of the company’s stock valued at $14,665,000 after purchasing an additional 168,728 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in Spirit of Texas Bancshares in the 3rd quarter valued at about $2,242,000. Stephens Inc. AR acquired a new stake in Spirit of Texas Bancshares in the 3rd quarter valued at about $984,000. Emerald Mutual Fund Advisers Trust lifted its stake in Spirit of Texas Bancshares by 17.2% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 307,100 shares of the company’s stock valued at $6,618,000 after purchasing an additional 45,000 shares during the last quarter. Finally, RMB Capital Management LLC lifted its stake in Spirit of Texas Bancshares by 4.1% in the 2nd quarter. RMB Capital Management LLC now owns 986,236 shares of the company’s stock valued at $22,190,000 after purchasing an additional 38,952 shares during the last quarter. Institutional investors and hedge funds own 43.43% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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