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

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Spirit of Texas Bancshares Inc (NASDAQ:STXB) has earned a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy rating.

Brokerages have set a twelve-month consensus price objective of $25.25 for the company and are forecasting that the company will post $0.38 EPS for the current quarter, according to Zacks. Zacks has also given Spirit of Texas Bancshares an industry rank of 144 out of 255 based on the ratings given to its competitors.

STXB has been the topic of a number of research reports. ValuEngine cut Spirit of Texas Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Stephens restated a “buy” rating and issued a $26.00 price objective on shares of Spirit of Texas Bancshares in a research note on Tuesday, November 19th. Finally, Zacks Investment Research upgraded Spirit of Texas Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.

Spirit of Texas Bancshares stock traded down $0.42 during midday trading on Wednesday, reaching $22.42. The stock had a trading volume of 29,033 shares, compared to its average volume of 35,955. Spirit of Texas Bancshares has a 12 month low of $19.06 and a 12 month high of $23.53. The firm’s 50-day moving average price is $21.70 and its 200 day moving average price is $21.74. The firm has a market capitalization of $362.83 million, a PE ratio of 21.35 and a beta of -0.13. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.25.

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

A number of institutional investors have recently made changes to their positions in STXB. BlackRock Inc. grew its holdings in Spirit of Texas Bancshares by 34.9% during the 2nd quarter. BlackRock Inc. now owns 651,803 shares of the company’s stock valued at $14,665,000 after buying an additional 168,728 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in Spirit of Texas Bancshares during the 3rd quarter valued at about $2,242,000. Stephens Inc. AR purchased a new position in Spirit of Texas Bancshares during the 3rd quarter valued at about $984,000. Emerald Mutual Fund Advisers Trust grew its holdings in Spirit of Texas Bancshares by 17.2% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 307,100 shares of the company’s stock valued at $6,618,000 after buying an additional 45,000 shares in the last quarter. Finally, RMB Capital Management LLC grew its holdings in Spirit of Texas Bancshares by 4.1% during the 2nd quarter. RMB Capital Management LLC now owns 986,236 shares of the company’s stock valued at $22,190,000 after buying an additional 38,952 shares in 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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