Short Interest in Spirit of Texas Bancshares Inc (NASDAQ:STXB) Decreases By 12.3%

Spirit of Texas Bancshares Inc (NASDAQ:STXB) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 238,200 shares, a drop of 12.3% from the June 30th total of 271,500 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average daily volume of 51,700 shares, the short-interest ratio is currently 4.6 days.

A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Spirit of Texas Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, July 21st. ValuEngine upgraded shares of Spirit of Texas Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, June 9th. Finally, Stephens lowered Spirit of Texas Bancshares from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, May 12th.

NASDAQ STXB opened at $11.65 on Friday. The stock has a 50 day moving average price of $11.65 and a 200-day moving average price of $14.00. Spirit of Texas Bancshares has a one year low of $8.96 and a one year high of $23.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.07 and a current ratio of 1.08. The company has a market capitalization of $205.19 million, a P/E ratio of 8.44 and a beta of 1.05.

Spirit of Texas Bancshares (NASDAQ:STXB) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.15. Spirit of Texas Bancshares had a net margin of 18.69% and a return on equity of 7.22%. The business had revenue of $28.62 million during the quarter, compared to analyst estimates of $28.20 million. As a group, equities analysts predict that Spirit of Texas Bancshares will post 1.04 EPS for the current fiscal year.

In related news, Director Robert S. Beall purchased 20,000 shares of Spirit of Texas Bancshares stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $10.29 per share, for a total transaction of $205,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 14.98% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of STXB. Citigroup Inc. lifted its stake in shares of Spirit of Texas Bancshares by 43.9% in the 1st quarter. Citigroup Inc. now owns 3,966 shares of the company’s stock valued at $41,000 after purchasing an additional 1,210 shares during the last quarter. Creative Planning lifted its position in Spirit of Texas Bancshares by 1.7% in the first quarter. Creative Planning now owns 73,250 shares of the company’s stock worth $757,000 after buying an additional 1,250 shares during the last quarter. Bank of America Corp DE boosted its stake in Spirit of Texas Bancshares by 32.3% during the fourth quarter. Bank of America Corp DE now owns 9,216 shares of the company’s stock worth $212,000 after buying an additional 2,251 shares during the period. Tower Research Capital LLC TRC bought a new position in Spirit of Texas Bancshares during the first quarter valued at $31,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Spirit of Texas Bancshares by 25.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,012 shares of the company’s stock valued at $414,000 after acquiring an additional 3,709 shares during the period. 38.45% of the stock is currently 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.

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