Spirit of Texas Bancshares Inc (NASDAQ:STXB) Position Reduced by Creative Planning

Creative Planning cut its position in shares of Spirit of Texas Bancshares Inc (NASDAQ:STXB) by 10.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 93,179 shares of the company’s stock after selling 10,961 shares during the quarter. Creative Planning owned approximately 0.68% of Spirit of Texas Bancshares worth $1,975,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Spirit of Texas Bancshares by 331.6% in the fourth quarter. BlackRock Inc. now owns 459,086 shares of the company’s stock worth $10,457,000 after acquiring an additional 352,717 shares during the period. RMB Capital Management LLC raised its position in Spirit of Texas Bancshares by 22.5% in the fourth quarter. RMB Capital Management LLC now owns 929,037 shares of the company’s stock worth $21,163,000 after acquiring an additional 170,903 shares during the period. Geode Capital Management LLC bought a new stake in Spirit of Texas Bancshares in the fourth quarter worth about $2,371,000. Vanguard Group Inc raised its position in Spirit of Texas Bancshares by 134.9% in the third quarter. Vanguard Group Inc now owns 164,964 shares of the company’s stock worth $3,562,000 after acquiring an additional 94,745 shares during the period. Finally, Vanguard Group Inc. raised its position in Spirit of Texas Bancshares by 134.9% in the third quarter. Vanguard Group Inc. now owns 164,964 shares of the company’s stock worth $3,562,000 after acquiring an additional 94,745 shares during the period. Institutional investors and hedge funds own 28.80% of the company’s stock.

Shares of NASDAQ STXB traded down $0.08 during midday trading on Wednesday, hitting $22.49. The company’s stock had a trading volume of 24,417 shares, compared to its average volume of 20,830. The company has a quick ratio of 0.99, a current ratio of 1.03 and a debt-to-equity ratio of 0.32. The firm has a market cap of $309.91 million and a P/E ratio of 21.42. Spirit of Texas Bancshares Inc has a one year low of $16.70 and a one year high of $23.53.

Spirit of Texas Bancshares (NASDAQ:STXB) last posted its earnings results on Monday, April 29th. The company reported $0.33 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.33. The business had revenue of $18.49 million for the quarter, compared to analyst estimates of $19.00 million. Spirit of Texas Bancshares had a net margin of 15.80% and a return on equity of 7.76%. Equities analysts expect that Spirit of Texas Bancshares Inc will post 1.68 EPS for the current year.

Several analysts have commented on the stock. Zacks Investment Research lowered shares of Spirit of Texas Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Stephens set a $26.00 price objective on shares of Spirit of Texas Bancshares and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Finally, Sandler O’Neill assumed coverage on shares of Spirit of Texas Bancshares in a research report on Monday, April 15th. They issued a “buy” rating and a $21.32 price target on the stock. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $23.32.

WARNING: This piece of content was first posted by Sundance Herald and is owned by of Sundance Herald. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://sundanceherald.com/2019/05/22/creative-planning-trims-holdings-in-spirit-of-texas-bancshares-inc-stxb.html.

Spirit of Texas Bancshares 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.

Recommended Story: Why do companies pay special dividends?

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

Receive News & Ratings for Spirit of Texas Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit of Texas Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply