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

Shares of Spirit of Texas Bancshares Inc (NASDAQ:STXB) have been given an average broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy rating.

Brokers have set a 1 year consensus price objective of $28.00 for the company, according to Zacks. Zacks has also assigned Spirit of Texas Bancshares an industry rank of 110 out of 255 based on the ratings given to related companies.

A number of brokerages have recently issued reports on STXB. Stephens reiterated a “buy” rating and set a $26.00 price target on shares of Spirit of Texas Bancshares in a research report on Tuesday, November 19th. ValuEngine upgraded Spirit of Texas Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Zacks Investment Research upgraded Spirit of Texas Bancshares from a “sell” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Saturday, January 11th.

Shares of STXB traded up $0.09 during trading hours on Friday, reaching $22.64. 31,261 shares of the company’s stock traded hands, compared to its average volume of 52,336. The stock has a market cap of $363.97 million, a PE ratio of 17.83 and a beta of -0.13. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.25. The firm’s 50 day simple moving average is $22.84 and its 200-day simple moving average is $21.88. Spirit of Texas Bancshares has a 12 month low of $20.23 and a 12 month high of $23.48.

Spirit of Texas Bancshares (NASDAQ:STXB) last issued its quarterly earnings results 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). The business had revenue of $23.16 million for the quarter, compared to the consensus estimate of $23.90 million. Spirit of Texas Bancshares had a net margin of 17.90% and a return on equity of 8.46%. As a group, analysts expect that Spirit of Texas Bancshares will post 1.53 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in Spirit of Texas Bancshares in the 3rd quarter worth approximately $28,000. Venturi Wealth Management LLC bought a new stake in Spirit of Texas Bancshares in the 3rd quarter worth approximately $82,000. Metropolitan Life Insurance Co NY bought a new stake in Spirit of Texas Bancshares in the 3rd quarter worth approximately $92,000. Russell Investments Group Ltd. lifted its position in Spirit of Texas Bancshares by 11,896.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 11,996 shares of the company’s stock worth $259,000 after buying an additional 11,896 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in Spirit of Texas Bancshares by 14.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 12,589 shares of the company’s stock worth $283,000 after buying an additional 1,567 shares during the last quarter. Hedge funds and other institutional investors 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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