Spirit of Texas Bancshares (NASDAQ:STXB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Spirit of Texas Bancshares Inc. is a bank holding company. It offers commercial and retail banking services. The company provides checking and savings accounts; commercial, consumer, mortgage, SBA and foreign national lending services and treasury management services. It operates primarily in College Station, Colleyville, Conroe, Dallas, Fort Worth, Grapevine, Clear Lake, Post Oak Road, Richmond Ave, Stafford, Magnolia, Tomball, Woodlands Central, Woodlands North and Woodlands West. Spirit of Texas Bancshares Inc. is based in Texas, United States. “

STXB has been the topic of a number of other reports. Piper Jaffray Companies raised shares of Spirit of Texas Bancshares from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $22.00 to $25.00 in a research note on Monday, December 3rd. Stephens reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Spirit of Texas Bancshares in a research note on Wednesday, October 24th.

STXB opened at $21.54 on Friday. Spirit of Texas Bancshares has a one year low of $16.70 and a one year high of $22.60. 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 released its quarterly earnings results on Tuesday, October 23rd. The company reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.01). Spirit of Texas Bancshares had a net margin of 12.89% and a return on equity of 6.96%. The company had revenue of $14.26 million for the quarter. As a group, research analysts forecast that Spirit of Texas Bancshares will post 1.2 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. ELCO Management Co. LLC boosted its stake in Spirit of Texas Bancshares by 17.6% in the third quarter. ELCO Management Co. LLC now owns 23,339 shares of the company’s stock valued at $504,000 after acquiring an additional 3,492 shares during the last quarter. Banc Funds Co. LLC boosted its stake in Spirit of Texas Bancshares by 5.3% in the third quarter. Banc Funds Co. LLC now owns 131,600 shares of the company’s stock valued at $2,841,000 after acquiring an additional 6,600 shares during the last quarter. Chicago Equity Partners LLC bought a new position in Spirit of Texas Bancshares in the third quarter valued at approximately $403,000. Northern Trust Corp bought a new position in Spirit of Texas Bancshares in the second quarter valued at approximately $413,000. Finally, Clover Partners L.P. boosted its stake in Spirit of Texas Bancshares by 219.4% in the third quarter. Clover Partners L.P. now owns 79,855 shares of the company’s stock valued at $1,724,000 after acquiring an additional 54,855 shares during the last quarter. 29.71% of the stock is currently owned by hedge funds and other 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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