Short Interest in Spirit of Texas Bancshares Inc (NASDAQ:STXB) Drops By 62.0%

Spirit of Texas Bancshares Inc (NASDAQ:STXB) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 158,000 shares, a drop of 62.0% from the July 31st total of 415,700 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily trading volume, of 53,700 shares, the days-to-cover ratio is presently 2.9 days.

A number of equities analysts recently commented on STXB shares. Stephens reiterated a “buy” rating and set a $25.00 price objective on shares of Spirit of Texas Bancshares in a research report on Thursday, June 13th. Piper Jaffray Companies reduced their price objective on Spirit of Texas Bancshares from $26.00 to $25.50 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Finally, Zacks Investment Research downgraded Spirit of Texas Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.

Spirit of Texas Bancshares stock traded up $0.12 during trading on Friday, reaching $21.90. 533 shares of the company were exchanged, compared to its average volume of 45,511. Spirit of Texas Bancshares has a 52-week low of $16.70 and a 52-week high of $23.53. The company has a market capitalization of $331.52 million, a P/E ratio of 20.86 and a beta of -0.20. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s 50 day simple moving average is $21.11 and its two-hundred day simple moving average is $21.72.

Spirit of Texas Bancshares (NASDAQ:STXB) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.04. Spirit of Texas Bancshares had a return on equity of 8.37% and a net margin of 17.19%. The firm had revenue of $23.53 million for the quarter, compared to the consensus estimate of $21.70 million. As a group, equities analysts forecast that Spirit of Texas Bancshares will post 1.53 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA lifted its position in Spirit of Texas Bancshares by 628.8% during the first quarter. BNP Paribas Arbitrage SA now owns 2,128 shares of the company’s stock worth $45,000 after buying an additional 1,836 shares in the last quarter. Rhumbline Advisers lifted its position in Spirit of Texas Bancshares by 11.8% during the first quarter. Rhumbline Advisers now owns 10,646 shares of the company’s stock worth $226,000 after buying an additional 1,120 shares in the last quarter. Acadian Asset Management LLC raised its position in Spirit of Texas Bancshares by 32.6% in the second quarter. Acadian Asset Management LLC now owns 12,050 shares of the company’s stock valued at $271,000 after purchasing an additional 2,964 shares during the period. Deutsche Bank AG raised its position in Spirit of Texas Bancshares by 187.2% in the fourth quarter. Deutsche Bank AG now owns 12,147 shares of the company’s stock valued at $275,000 after purchasing an additional 7,918 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in Spirit of Texas Bancshares by 14.2% in the second quarter. Parametric Portfolio Associates LLC now owns 12,589 shares of the company’s stock valued at $283,000 after purchasing an additional 1,567 shares during the period. Hedge funds and other institutional investors own 27.99% of the company’s stock.

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.

See Also: Net Margin

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