Spirit of Texas Bancshares, Inc. (STXB) to Issue Quarterly Dividend of $0.09 on January 19th


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Spirit of Texas Bancshares, Inc. (NASDAQ:STXB) announced a quarterly dividend on Thursday, December 17th, Zacks reports. Stockholders of record on Tuesday, January 5th will be paid a dividend of 0.09 per share on Tuesday, January 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Monday, January 4th. This is an increase from Spirit of Texas Bancshares’s previous quarterly dividend of $0.07.

Spirit of Texas Bancshares has a dividend payout ratio of 24.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Spirit of Texas Bancshares to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 32.1%.

Shares of Spirit of Texas Bancshares stock opened at $16.80 on Friday. Spirit of Texas Bancshares has a 52 week low of $8.96 and a 52 week high of $23.48. The business’s fifty day simple moving average is $16.36 and its 200-day simple moving average is $13.31. The firm has a market cap of $290.47 million, a PE ratio of 11.83 and a beta of 1.04. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.53.

Spirit of Texas Bancshares (NASDAQ:STXB) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.10. The business had revenue of $31.03 million for the quarter, compared to analyst estimates of $28.80 million. Spirit of Texas Bancshares had a return on equity of 7.12% and a net margin of 18.69%. As a group, equities analysts expect that Spirit of Texas Bancshares will post 1.24 earnings per share for the current year.

STXB has been the subject of a number of recent research reports. Zacks Investment Research raised Spirit of Texas Bancshares from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, September 22nd. ValuEngine raised Spirit of Texas Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, December 8th.

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. It offers checking, money market, savings, and individual retirement accounts, as well as various certificates of deposit. 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 and nonowner-occupied commercial real estate loans, other commercial real estate loans, and multifamily loans and farmland; consumer loans and leases; and municipal and other loans.

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