Short-term stake in Spirit of Texas Bancshares, Inc. (NASDAQ:STXB) increases 32.2%

Spirit of Texas Bancshares, Inc. (NASDAQ: STXB – Get a rating) benefited from a sharp increase in short-term interest during the month of February. As of February 15, there was short interest totaling 95,300 shares, an increase of 32.2% from the total of 72,100 shares as of January 31. Approximately 0.7% of the company’s shares are sold short. Based on an average trading volume of 88,100 shares, the day-to-cover ratio is currently 1.1 days.

A number of research companies have published reports on STXB. Keefe, Bruyette & Woods downgraded Spirit of Texas Bancshares shares from an “outperform” rating to a “market performer” rating and raised their target price for the stock from $29.00 to 34.00 $ in a report from Tuesday, November 30. Zacks Investment Research downgraded shares of Spirit of Texas Bancshares from a “buy” rating to a “hold” rating in a Wednesday, Feb. 2 research report. Finally, Piper Sandler downgraded shares of Spirit of Texas Bancshares from an “overweight” rating to a “neutral” rating and raised her price target for the company from $28.50 to $32.00 in a report of research from Monday, November 22.

In other Spirit of Texas Bancshares news, Director Robert S. Beall purchased 25,000 shares of Spirit of Texas Bancshares in a transaction on Thursday, February 24. The shares were purchased at an average cost of $27.00 per share, for a total transaction of $675,000.00. The transaction was disclosed in a document filed with the SEC, accessible via this link. Additionally, CEO Dean O. Bass sold 77,093 shares in a trade that took place on Monday, February 28. The stock was sold at an average price of $28.42, for a total transaction of $2,190,983.06. Disclosure of this sale can be found here. In the past 90 days, insiders have purchased 26,100 shares of the company worth $705,250. Insiders of the company hold 25.24% of the shares of the company.

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Large investors have recently changed their stock holdings. Advisor Group Holdings Inc. increased its stake in Spirit of Texas Bancshares by 67.7% during the 4th quarter. Advisor Group Holdings Inc. now owns 904 shares of the company worth $25,000 after purchasing an additional 365 shares during the period. Citigroup Inc. increased its stake in the shares of Spirit of Texas Bancshares by 109.8% in the third quarter. Citigroup Inc. now owns 1,460 shares of the company worth $35,000 after acquiring an additional 764 shares during the period. BNP Paribas Arbitrage SA increased its stake in Spirit of Texas Bancshares by 106.0% in the third quarter. BNP Paribas Arbitrage SA now owns 3,451 shares in the company worth $84,000 after acquiring an additional 1,776 shares during the period. Metropolitan Life Insurance Co NY acquired a new equity stake from Spirit of Texas Bancshares in Q3 worth $85,000. Finally, Barclays PLC increased its stake in Spirit of Texas Bancshares by 214.3% in the third quarter. Barclays PLC now owns 5,236 shares in the company worth $127,000 after acquiring an additional 3,570 shares during the period. Hedge funds and other institutional investors own 39.87% of the company’s shares.

The NASDAQ STXB opened at $27.80 on Monday. The company has a market capitalization of $480.63 million, a price-earnings ratio of 11.68 and a beta of 0.98. The company’s fifty-day moving average price is $29.01 and its 200-day moving average price is $26.61. The company has a debt ratio of 0.20, a current ratio of 0.93 and a quick ratio of 0.93. Spirit of Texas Bancshares has a 12-month low of $21.37 and a 12-month high of $31.75.

Spirit of Texas Bancshares (NASDAQ:STXB – Get a rating) last released its quarterly results on Wednesday, January 26. The company reported earnings per share of $0.55 for the quarter, beating the Zacks consensus estimate of $0.54 by $0.01. The company posted revenue of $32.78 million in the quarter, compared to $31.20 million expected by analysts. Spirit of Texas Bancshares had a net margin of 30.12% and a return on equity of 11.33%. In the same quarter of the previous year, the company had achieved EPS of $0.72. As a group, sell-side analysts expect Spirit of Texas Bancshares to post earnings per share of 2.17 for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 25. Investors of record on Friday, March 11 will receive a dividend of $0.12 per share. This represents a dividend of $0.48 on an annualized basis and a yield of 1.73%. The ex-date of this dividend is Thursday, March 10. Spirit of Texas Bancshares’ dividend payout ratio is currently 20.17%.

About Spirit of Texas Bancshares (Get a rating)

Spirit of Texas Bancshares, Inc is a bank holding company that 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 enterprises, commercial real estate loans, construction and development loans, SBA loans, commercial deposit accounts, cash management services and retail offerings, including consumer loans, single family 1-4 residential real estate loans and retail deposit products.

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