Piper Jaffray Companies upgraded shares of Spirit of Texas Bancshares (NASDAQ:STXB) from a neutral rating to an overweight rating in a research report sent to investors on Monday morning, MarketBeat reports. Piper Jaffray Companies currently has $25.00 price target on the stock, up from their prior price target of $22.00. Piper Jaffray Companies also issued estimates for Spirit of Texas Bancshares’ FY2018 earnings at $1.20 EPS, Q1 2019 earnings at $0.34 EPS, Q3 2019 earnings at $0.48 EPS, Q4 2019 earnings at $0.50 EPS, FY2019 earnings at $1.71 EPS, Q1 2020 earnings at $0.49 EPS, Q2 2020 earnings at $0.51 EPS, Q3 2020 earnings at $0.54 EPS and FY2020 earnings at $2.10 EPS.
Several other analysts have also issued reports on STXB. Zacks Investment Research lowered shares of Spirit of Texas Bancshares from a hold rating to a sell rating in a research report on Saturday, December 1st. Stephens reiterated a buy rating and set a $27.00 price target on shares of Spirit of Texas Bancshares in a research report on Wednesday, October 24th.
Shares of STXB opened at $21.77 on Monday. Spirit of Texas Bancshares has a 12 month low of $16.70 and a 12 month high of $22.56. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.43.
Spirit of Texas Bancshares (NASDAQ:STXB) last posted its quarterly earnings results on Tuesday, October 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.01). The firm had revenue of $14.26 million for the quarter. Spirit of Texas Bancshares had a return on equity of 6.96% and a net margin of 12.89%. As a group, equities analysts expect that Spirit of Texas Bancshares will post 1.18 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of STXB. Chicago Equity Partners LLC acquired a new stake in shares of Spirit of Texas Bancshares during the 3rd quarter worth approximately $403,000. Northern Trust Corp acquired a new stake in shares of Spirit of Texas Bancshares during the 2nd quarter worth approximately $413,000. ELCO Management Co. LLC boosted its position in shares of Spirit of Texas Bancshares by 17.6% during the 3rd quarter. ELCO Management Co. LLC now owns 23,339 shares of the company’s stock worth $504,000 after acquiring an additional 3,492 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management acquired a new stake in shares of Spirit of Texas Bancshares during the 2nd quarter worth approximately $514,000. Finally, Clover Partners L.P. boosted its position in shares of Spirit of Texas Bancshares by 219.4% during the 3rd quarter. Clover Partners L.P. now owns 79,855 shares of the company’s stock worth $1,724,000 after acquiring an additional 54,855 shares in the last quarter. Institutional investors and hedge funds own 29.71% 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, The company also provides commercial and industrial loans; 1-4 single family residential real estate loans; construction, land, and development loans; commercial real estate loans, such as owner-occupied commercial real estate loans, other commercial real estate loans, and multifamily loans and farmland; consumer loans and leases; and municipal and other loans.
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