Spirit of Texas Bancshares, Inc. (STXB) to Issue Dividend of $0.12 on December 15th

Spirit of Texas Bancshares, Inc. (NASDAQ:STXB) declared a dividend on Monday, November 22nd, Fidelity reports. Stockholders of record on Wednesday, December 1st will be given a dividend of 0.12 per share on Wednesday, December 15th. The ex-dividend date is Tuesday, November 30th.

Spirit of Texas Bancshares has a payout ratio of 22.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Spirit of Texas Bancshares to earn $2.13 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.5%.

STXB stock opened at $29.07 on Wednesday. Spirit of Texas Bancshares has a one year low of $15.40 and a one year high of $30.46. The company’s fifty day moving average price is $24.74 and its 200-day moving average price is $23.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $501.46 million, a PE ratio of 11.22 and a beta of 1.03.

Spirit of Texas Bancshares (NASDAQ:STXB) last released its earnings results on Tuesday, October 26th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.03). Spirit of Texas Bancshares had a return on equity of 12.18% and a net margin of 30.91%. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, research analysts predict that Spirit of Texas Bancshares will post 2.4 EPS for the current fiscal year.

In related news, President David M. Mcguire sold 2,000 shares of the business’s stock in a transaction on Friday, October 1st. The shares were sold at an average price of $24.45, for a total value of $48,900.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 25.24% of the company’s stock.

A number of hedge funds have recently bought and sold shares of STXB. Wells Fargo & Company MN increased its position in Spirit of Texas Bancshares by 65.4% during the second quarter. Wells Fargo & Company MN now owns 33,217 shares of the company’s stock valued at $759,000 after acquiring an additional 13,136 shares during the last quarter. Bank of New York Mellon Corp increased its position in Spirit of Texas Bancshares by 16.6% during the third quarter. Bank of New York Mellon Corp now owns 73,352 shares of the company’s stock valued at $1,776,000 after acquiring an additional 10,464 shares during the last quarter. Morgan Stanley increased its position in Spirit of Texas Bancshares by 35.1% during the third quarter. Morgan Stanley now owns 38,054 shares of the company’s stock valued at $921,000 after acquiring an additional 9,879 shares during the last quarter. Millennium Management LLC increased its position in Spirit of Texas Bancshares by 52.5% during the second quarter. Millennium Management LLC now owns 23,282 shares of the company’s stock valued at $532,000 after acquiring an additional 8,013 shares during the last quarter. Finally, Invesco Ltd. increased its position in Spirit of Texas Bancshares by 16.2% during the second quarter. Invesco Ltd. now owns 14,918 shares of the company’s stock valued at $340,000 after acquiring an additional 2,076 shares during the last quarter. Institutional investors and hedge funds own 39.15% of the company’s stock.

Several brokerages recently weighed in on STXB. Zacks Investment Research cut shares of Spirit of Texas Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, November 3rd. Piper Sandler cut shares of Spirit of Texas Bancshares from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $28.50 to $32.00 in a research report on Monday.

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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Dividend History for Spirit of Texas Bancshares (NASDAQ:STXB)

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