Bank of America Corp DE Acquires 12,093 Shares of Spirit of Texas Bancshares Inc (STXB)

Bank of America Corp DE lifted its holdings in Spirit of Texas Bancshares Inc (NASDAQ:STXB) by 1,519.2% during the 4th quarter, Holdings Channel reports. The firm owned 12,889 shares of the company’s stock after acquiring an additional 12,093 shares during the quarter. Bank of America Corp DE’s holdings in Spirit of Texas Bancshares were worth $294,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Citigroup Inc. grew its stake in shares of Spirit of Texas Bancshares by 292.5% in the 4th quarter. Citigroup Inc. now owns 2,316 shares of the company’s stock worth $53,000 after purchasing an additional 1,726 shares during the last quarter. Strs Ohio grew its stake in shares of Spirit of Texas Bancshares by 316.7% in the 4th quarter. Strs Ohio now owns 2,500 shares of the company’s stock worth $56,000 after purchasing an additional 1,900 shares during the last quarter. American International Group Inc. grew its stake in shares of Spirit of Texas Bancshares by 337.3% in the 4th quarter. American International Group Inc. now owns 6,043 shares of the company’s stock worth $138,000 after purchasing an additional 4,661 shares during the last quarter. Mendon Capital Advisors Corp grew its stake in shares of Spirit of Texas Bancshares by 31.2% in the 4th quarter. Mendon Capital Advisors Corp now owns 30,617 shares of the company’s stock worth $697,000 after purchasing an additional 7,278 shares during the last quarter. Finally, Rhumbline Advisers acquired a new position in shares of Spirit of Texas Bancshares in the 4th quarter worth approximately $217,000. 28.92% of the stock is currently owned by institutional investors.

STXB has been the topic of several analyst reports. Stephens set a $26.00 target price on shares of Spirit of Texas Bancshares and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Zacks Investment Research downgraded shares of Spirit of Texas Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Finally, Sandler O’Neill initiated coverage on shares of Spirit of Texas Bancshares in a research report on Monday, April 15th. They issued a “buy” rating and a $21.32 target price on the stock. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Spirit of Texas Bancshares presently has a consensus rating of “Buy” and an average target price of $23.32.

Spirit of Texas Bancshares stock opened at $22.52 on Friday. The company has a market capitalization of $310.33 million and a PE ratio of 21.45. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. Spirit of Texas Bancshares Inc has a fifty-two week low of $16.70 and a fifty-two week high of $23.53.

Spirit of Texas Bancshares (NASDAQ:STXB) last released its earnings results on Monday, April 29th. The company reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. The business had revenue of $18.49 million for the quarter, compared to the consensus estimate of $19.00 million. Spirit of Texas Bancshares had a net margin of 15.80% and a return on equity of 7.76%. On average, equities research analysts predict that Spirit of Texas Bancshares Inc will post 1.68 earnings per share for the current fiscal year.

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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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Institutional Ownership by Quarter for Spirit of Texas Bancshares (NASDAQ:STXB)

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