Spirit of Texas Bancshares (NASDAQ:STXB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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. “
A number of other research firms have also recently weighed in on STXB. Stephens restated a “buy” rating and set a $27.00 target price on shares of Spirit of Texas Bancshares in a research note on Wednesday, October 24th. Piper Jaffray Companies upgraded shares of Spirit of Texas Bancshares from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $22.00 to $25.00 in a research note on Monday.
Spirit of Texas Bancshares (NASDAQ:STXB) last released its earnings results on Tuesday, October 23rd. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Spirit of Texas Bancshares had a net margin of 12.89% and a return on equity of 6.96%. The firm had revenue of $14.26 million for the quarter. As a group, sell-side analysts forecast that Spirit of Texas Bancshares will post 1.18 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC bought a new stake in Spirit of Texas Bancshares in the 3rd quarter valued at $403,000. Northern Trust Corp bought a new stake in Spirit of Texas Bancshares in the 2nd quarter valued at $413,000. ELCO Management Co. LLC increased its holdings in Spirit of Texas Bancshares by 17.6% in the 3rd quarter. ELCO Management Co. LLC now owns 23,339 shares of the company’s stock valued at $504,000 after acquiring an additional 3,492 shares during the last quarter. Clover Partners L.P. increased its holdings in 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 valued at $1,724,000 after acquiring an additional 54,855 shares during the last quarter. Finally, State of Wisconsin Investment Board bought a new stake in Spirit of Texas Bancshares in the 2nd quarter valued at $2,060,000. Institutional investors own 29.71% of the company’s stock.
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, 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.
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