HighTower Advisors LLC Increases Holdings in Spirit of Texas Bancshares, Inc. (NASDAQ:STXB)

HighTower Advisors LLC increased its holdings in shares of Spirit of Texas Bancshares, Inc. (NASDAQ:STXB) by 330.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,724 shares of the company’s stock after purchasing an additional 52,007 shares during the period. HighTower Advisors LLC owned 0.39% of Spirit of Texas Bancshares worth $1,547,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. LSV Asset Management boosted its position in Spirit of Texas Bancshares by 70.0% in the 2nd quarter. LSV Asset Management now owns 44,300 shares of the company’s stock valued at $1,011,000 after buying an additional 18,244 shares during the last quarter. Monarch Partners Asset Management LLC purchased a new position in Spirit of Texas Bancshares in the 2nd quarter valued at about $4,108,000. Alliancebernstein L.P. boosted its position in Spirit of Texas Bancshares by 51.2% in the 2nd quarter. Alliancebernstein L.P. now owns 153,484 shares of the company’s stock valued at $3,506,000 after buying an additional 51,955 shares during the last quarter. State of Wisconsin Investment Board boosted its position in Spirit of Texas Bancshares by 3.4% in the 1st quarter. State of Wisconsin Investment Board now owns 143,818 shares of the company’s stock valued at $3,209,000 after buying an additional 4,700 shares during the last quarter. Finally, Morgan Stanley boosted its position in Spirit of Texas Bancshares by 31.9% in the 1st quarter. Morgan Stanley now owns 50,291 shares of the company’s stock valued at $1,122,000 after buying an additional 12,150 shares during the last quarter. 39.08% of the stock is owned by hedge funds and other institutional investors.

In other Spirit of Texas Bancshares news, Director Thomas Jr. Jones sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $22.89, for a total value of $34,335.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President David M. Mcguire sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $23.00, for a total transaction of $46,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,500 shares of company stock worth $127,235. 25.24% of the stock is owned by company insiders.

A number of equities analysts have weighed in on the stock. Stephens raised shares of Spirit of Texas Bancshares from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $25.00 to $26.00 in a research report on Thursday, July 8th. Zacks Investment Research raised shares of Spirit of Texas Bancshares from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective for the company in a research report on Tuesday, July 27th.

Shares of STXB stock opened at $23.18 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.94. Spirit of Texas Bancshares, Inc. has a one year low of $10.45 and a one year high of $24.94. The company’s 50-day simple moving average is $22.93 and its 200-day simple moving average is $22.99. The stock has a market capitalization of $397.98 million, a price-to-earnings ratio of 9.62 and a beta of 1.11.

Spirit of Texas Bancshares (NASDAQ:STXB) last issued its quarterly earnings results on Tuesday, July 20th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.53 by $0.17. Spirit of Texas Bancshares had a net margin of 28.37% and a return on equity of 11.56%. The business had revenue of $33.56 million for the quarter, compared to analysts’ expectations of $32.20 million. As a group, research analysts forecast that Spirit of Texas Bancshares, Inc. will post 2.44 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 24th. Stockholders of record on Friday, September 10th will be given a dividend of $0.12 per share. This is a boost from Spirit of Texas Bancshares’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, September 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.07%. Spirit of Texas Bancshares’s dividend payout ratio (DPR) is presently 26.52%.

About Spirit of Texas Bancshares

Spirit of Texas Bancshares, Inc is a bank holding company, which offers 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 companies; commercial real estate loans; construction and development loans; SBA loans; commercial deposit accounts; and treasury management services; and retail offerings include consumer loans, 1-4 single family residential real estate loans and retail deposit products.

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Institutional Ownership by Quarter for Spirit of Texas Bancshares (NASDAQ:STXB)

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