Spirit of Texas Bancshares (NASDAQ:STXB) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Spirit of Texas Bancshares (NASDAQ:STXB) from a buy rating to a hold rating in a research note published on Thursday, Zacks.com reports.

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. “

Several other equities analysts have also issued reports on the stock. Stephens reaffirmed a buy rating and issued a $25.00 price target on shares of Spirit of Texas Bancshares in a report on Thursday, June 13th. Piper Jaffray Companies cut their price target on shares of Spirit of Texas Bancshares from $26.00 to $25.50 and set an overweight rating on the stock in a report on Tuesday. Finally, Sandler O’Neill initiated coverage on shares of Spirit of Texas Bancshares in a report on Monday, April 15th. They issued a buy rating and a $21.32 price target on the stock.

STXB stock traded down $0.18 during trading on Thursday, hitting $21.56. 35,000 shares of the company’s stock traded hands, compared to its average volume of 30,047. The stock’s fifty day moving average price is $22.24. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.03 and a quick ratio of 1.03. Spirit of Texas Bancshares has a 1 year low of $16.70 and a 1 year high of $23.53. The company has a market capitalization of $298.62 million, a price-to-earnings ratio of 20.53 and a beta of -0.23.

Spirit of Texas Bancshares (NASDAQ:STXB) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.04. Spirit of Texas Bancshares had a net margin of 17.19% and a return on equity of 9.05%. The business had revenue of $23.53 million for the quarter, compared to analyst estimates of $21.70 million. On average, sell-side analysts anticipate that Spirit of Texas Bancshares will post 1.62 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of STXB. Legal & General Group Plc lifted its stake in shares of Spirit of Texas Bancshares by 229.2% during the fourth quarter. Legal & General Group Plc now owns 1,445 shares of the company’s stock worth $33,000 after buying an additional 1,006 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Spirit of Texas Bancshares by 628.8% during the first quarter. BNP Paribas Arbitrage SA now owns 2,128 shares of the company’s stock worth $45,000 after buying an additional 1,836 shares during the period. Citigroup Inc. lifted its stake in shares of Spirit of Texas Bancshares by 292.5% during the fourth quarter. Citigroup Inc. now owns 2,316 shares of the company’s stock worth $53,000 after buying an additional 1,726 shares during the period. American International Group Inc. lifted its stake in shares of Spirit of Texas Bancshares by 337.3% during the fourth quarter. American International Group Inc. now owns 6,043 shares of the company’s stock worth $138,000 after buying an additional 4,661 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Spirit of Texas Bancshares by 11.8% during the first quarter. Rhumbline Advisers now owns 10,646 shares of the company’s stock worth $226,000 after buying an additional 1,120 shares during the period. Institutional investors and hedge funds own 29.44% 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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