Spirit of Texas Bancshares Inc (STXB) Receives Consensus Rating of “Strong Buy” from Brokerages

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Shares of Spirit of Texas Bancshares Inc (NASDAQ:STXB) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Brokerages have set a 1-year consensus price objective of $27.00 for the company, according to Zacks. Zacks has also assigned Spirit of Texas Bancshares an industry rank of 96 out of 255 based on the ratings given to related companies.

Several brokerages have commented on STXB. Zacks Investment Research upgraded Spirit of Texas Bancshares from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Tuesday, September 4th. Stephens restated a “buy” rating and issued a $26.00 price objective on shares of Spirit of Texas Bancshares in a research note on Wednesday, July 25th.

Several hedge funds and other institutional investors have recently modified their holdings of STXB. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Spirit of Texas Bancshares in the second quarter valued at $5,399,000. ELCO Management Co. LLC bought a new position in shares of Spirit of Texas Bancshares during the 2nd quarter valued at about $409,000. Gerber Kawasaki Wealth & Investment Management bought a new position in shares of Spirit of Texas Bancshares during the 2nd quarter valued at about $514,000. State of Wisconsin Investment Board bought a new position in shares of Spirit of Texas Bancshares during the 2nd quarter valued at about $2,060,000. Finally, Northern Trust Corp bought a new position in shares of Spirit of Texas Bancshares during the 2nd quarter valued at about $413,000. 24.74% of the stock is owned by institutional investors.

STXB stock traded down $0.10 during midday trading on Monday, hitting $21.00. 12,067 shares of the company traded hands, compared to its average volume of 33,852. Spirit of Texas Bancshares has a twelve month low of $20.04 and a twelve month high of $22.56. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.45.

Spirit of Texas Bancshares (NASDAQ:STXB) last announced its quarterly earnings results on Tuesday, July 24th. The company reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. The company had revenue of $13.39 million for the quarter. As a group, research analysts forecast that Spirit of Texas Bancshares will post 1.18 EPS for the current year.

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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