Spirit of Texas Bancshares (NASDAQ: STXB) enhanced by Zacks Investment Research to buy
Spirit of Texas Bancshares (NASDAQ: STXB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report released Wednesday to clients and investors, Zacks.com reports. The company currently has a target price of $ 32.00 on the stock. Zacks Investment Research’s price target suggests a potential rise of 10.73% from the current share price.
According to Zacks, “Spirit of Texas Bancshares Inc. is a banking holding company. It offers commercial and retail banking services. The company provides checking and savings accounts; commercial, consumer, mortgage, SBA and foreign loan services; and cash 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, USA. “
A number of other research companies have also recently published reports on the STXB. Keefe, Bruyette & Woods downgraded Spirit of Texas Bancshares’ stock rating from an “outperformance” rating to a “market performance” rating and raised their target price for the stock from $ 29 to 34, $ 00 in a report released on Tuesday, November 30. Piper Sandler downgraded Spirit of Texas Bancshares’ rating from “overweight” to “neutral” and raised its price target from $ 28.50 to $ 32.00 in a report released on Monday, November 22.
NASDAQ: STXB traded up $ 0.08 during trading hours on Wednesday, reaching $ 28.90. The stock had a trade volume of 897 shares, compared to its average volume of 54,475. The company has a 50-day simple moving average of $ 27.00 and a two-hundred-day simple moving average of 24.56. $. The company has a debt ratio of 0.20, a current ratio of 0.93, and a rapid ratio of 0.93. Spirit of Texas Bancshares has a one-year minimum of $ 16.37 and a one-year maximum of $ 30.46. The company has a market cap of $ 498.53 million, a price-to-earnings ratio of 11.17 and a beta of 0.99.
Spirit of Texas Bancshares (NASDAQ: STXB) last reported its quarterly results on Tuesday, October 26. The company reported EPS of $ 0.59 for the quarter, missing the Thomson Reuters consensus estimate of $ 0.62 ($ 0.03). Spirit of Texas Bancshares had a net margin of 30.91% and a return on equity of 12.18%. The company posted revenue of $ 31.39 million in the quarter, compared to a consensus estimate of $ 32.50 million. During the same period of the previous year, the company made a profit of $ 0.41 per share. Equity research analysts predict that Spirit of Texas Bancshares will post earnings per share of 2.41 for the current year.
In addition, President David M. McGuire sold 2,000 shares of Spirit of Texas Bancshares in a transaction on Friday, October 1. The shares were sold for an average price of $ 24.45, for a total value of $ 48,900.00. The sale was disclosed in a legal file with the SEC, which can be accessed through this hyperlink. 25.24% of the shares are held by company insiders.
Several hedge funds have recently increased or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Spirit of Texas Bancshares by 4.8% in the second quarter. Vanguard Group Inc. now owns 628,560 shares of the company valued at $ 14,357,000 after acquiring an additional 28,669 shares during the period. Mendon Capital Advisors Corp increased its position in shares of Spirit of Texas Bancshares by 1.6% in the third quarter. Mendon Capital Advisors Corp now owns 511,520 shares of the company valued at $ 12,378,000 after acquiring an additional 7,916 shares during the period. Basswood Capital Management LLC increased its position in shares of Spirit of Texas Bancshares by 175.5% in the second quarter. Basswood Capital Management LLC now owns 278,162 shares of the company valued at $ 6,353,000 after acquiring an additional 177,206 shares during the period. Alliancebernstein LP increased its position in shares of Spirit of Texas Bancshares by 69.5% in the third quarter. Alliancebernstein LP now owns 260,120 shares of the company valued at $ 6,295,000 after acquiring an additional 106,636 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Spirit of Texas Bancshares by 10.1% in the third quarter. Dimensional Fund Advisors LP now owns 241,266 shares of the company valued at $ 5,839,000 after acquiring an additional 22,068 shares during the period. Hedge funds and other institutional investors hold 39.15% of the company’s shares.
Spirit of Texas Bancshares Company Profile
Spirit of Texas Bancshares, Inc is a banking holding company providing commercial and retail banking services. Its product offerings consist of a range of commercial products, including term loans and operating lines of credit to commercial and industrial enterprises; commercial real estate loans; construction and development loans; SBA loans; commercial deposit accounts; and cash management services; and retail offerings include consumer loans, 1 to 4 single family residential real estate loans, and retail deposit products.
Further reading: remedial contributions
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