Equities Analysts Set Expectations for Spirit of Texas Bancshares Inc’s FY2020 Earnings (NASDAQ:STXB)

Spirit of Texas Bancshares Inc (NASDAQ:STXB) – Investment analysts at Piper Sandler upped their FY2020 earnings per share estimates for shares of Spirit of Texas Bancshares in a research report issued to clients and investors on Tuesday, July 21st. Piper Sandler analyst B. Milsaps now expects that the company will post earnings of $1.43 per share for the year, up from their prior forecast of $1.32. Piper Sandler also issued estimates for Spirit of Texas Bancshares’ Q4 2020 earnings at $0.39 EPS, Q3 2021 earnings at $0.20 EPS, Q4 2021 earnings at $0.27 EPS and FY2021 earnings at $0.90 EPS.

Spirit of Texas Bancshares (NASDAQ:STXB) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.15. The company had revenue of $28.62 million for the quarter, compared to the consensus estimate of $28.20 million. Spirit of Texas Bancshares had a return on equity of 7.22% and a net margin of 18.69%.

A number of other research analysts also recently weighed in on the company. ValuEngine raised Spirit of Texas Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, June 9th. Zacks Investment Research downgraded Spirit of Texas Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Stephens downgraded Spirit of Texas Bancshares from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, May 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $24.83.

STXB stock opened at $11.48 on Thursday. The business’s fifty day moving average is $12.01 and its 200-day moving average is $14.41. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 0.30. The company has a market cap of $204.28 million, a P/E ratio of 8.50 and a beta of 1.05. Spirit of Texas Bancshares has a twelve month low of $8.96 and a twelve month high of $23.48.

In other news, Director Robert S. Beall acquired 20,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $10.29 per share, for a total transaction of $205,800.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 14.98% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC bought a new position in Spirit of Texas Bancshares during the 1st quarter worth about $31,000. Bank of Montreal Can increased its holdings in Spirit of Texas Bancshares by 46.9% during the 4th quarter. Bank of Montreal Can now owns 1,734 shares of the company’s stock worth $40,000 after purchasing an additional 554 shares in the last quarter. Citigroup Inc. increased its holdings in Spirit of Texas Bancshares by 43.9% during the 1st quarter. Citigroup Inc. now owns 3,966 shares of the company’s stock worth $41,000 after purchasing an additional 1,210 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in Spirit of Texas Bancshares during the 1st quarter worth about $63,000. Finally, Invesco Ltd. bought a new position in Spirit of Texas Bancshares during the 1st quarter worth about $128,000. Institutional investors and hedge funds own 38.45% 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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Earnings History and Estimates for Spirit of Texas Bancshares (NASDAQ:STXB)

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