Spirit of Texas Bancshares’ (NASDAQ:STXB) lock-up period is set to expire on Wednesday, October 31st. Spirit of Texas Bancshares had issued 2,000,000 shares in its initial public offering on May 4th. The total size of the offering was $42,000,000 based on an initial share price of $21.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
Several brokerages have recently issued reports on STXB. Stephens reissued a “buy” rating and issued a $26.00 target price on shares of Spirit of Texas Bancshares in a research report on Wednesday, July 25th. Zacks Investment Research raised Spirit of Texas Bancshares from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Tuesday, September 4th.
STXB stock opened at $20.73 on Friday. Spirit of Texas Bancshares has a twelve month low of $16.70 and a twelve month high of $22.56. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.45.
A number of hedge funds have recently bought and sold shares of the stock. Emerald Mutual Fund Advisers Trust bought a new position in Spirit of Texas Bancshares during the 2nd quarter valued at approximately $5,399,000. BlackRock Inc. bought a new position in Spirit of Texas Bancshares during the 2nd quarter valued at approximately $2,179,000. State of Wisconsin Investment Board bought a new position in Spirit of Texas Bancshares during the 2nd quarter valued at approximately $2,060,000. Gerber Kawasaki Wealth & Investment Management bought a new position in Spirit of Texas Bancshares during the 2nd quarter valued at approximately $514,000. Finally, Northern Trust Corp bought a new position in Spirit of Texas Bancshares during the 2nd quarter valued at approximately $413,000. 24.74% of the stock is owned by institutional investors.
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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