105,786 Shares in Spirit of Texas Bancshares Inc (STXB) Purchased by BlackRock Inc.
BlackRock Inc. acquired a new position in Spirit of Texas Bancshares Inc (NASDAQ:STXB) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 105,786 shares of the company’s stock, valued at approximately $2,179,000.
Other institutional investors have also recently modified their holdings of the company. ELCO Management Co. LLC acquired a new stake in shares of Spirit of Texas Bancshares in the second quarter worth $409,000. Gerber Kawasaki Wealth & Investment Management acquired a new position in Spirit of Texas Bancshares during the 2nd quarter valued at $514,000. State of Wisconsin Investment Board acquired a new position in Spirit of Texas Bancshares during the 2nd quarter valued at $2,060,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in Spirit of Texas Bancshares during the 2nd quarter valued at $5,399,000. Institutional investors and hedge funds own 24.91% of the company’s stock.
STXB has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Spirit of Texas Bancshares from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, September 4th. Stephens reiterated a “buy” rating and set a $27.00 target price on shares of Spirit of Texas Bancshares in a research note on Wednesday, October 24th.
Spirit of Texas Bancshares (NASDAQ:STXB) last released its 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). The company had revenue of $14.26 million for the quarter. Spirit of Texas Bancshares had a net margin of 12.89% and a return on equity of 6.96%. On average, analysts forecast that Spirit of Texas Bancshares Inc will post 1.18 EPS for the current year.
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Spirit of Texas Bancshares Company Profile
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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