Spirit of Texas Bancshares Inc (NASDAQ:STXB) Short Interest Update

Spirit of Texas Bancshares Inc (NASDAQ:STXB) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 230,700 shares, a growth of 61.2% from the December 31st total of 143,100 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average daily volume of 40,600 shares, the days-to-cover ratio is currently 5.7 days.

Several equities research analysts have recently issued reports on STXB shares. ValuEngine upgraded Spirit of Texas Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Stephens restated a “buy” rating and set a $26.00 price objective on shares of Spirit of Texas Bancshares in a report on Tuesday, November 19th. Finally, Zacks Investment Research lowered Spirit of Texas Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $24.71.

Several institutional investors and hedge funds have recently modified their holdings of STXB. Wells Fargo & Company MN raised its position in shares of Spirit of Texas Bancshares by 171.1% in the 2nd quarter. Wells Fargo & Company MN now owns 22,295 shares of the company’s stock worth $501,000 after buying an additional 14,072 shares during the period. Charles Schwab Investment Management Inc. raised its position in Spirit of Texas Bancshares by 15.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 28,137 shares of the company’s stock valued at $634,000 after purchasing an additional 3,804 shares during the period. Bank of New York Mellon Corp increased its position in shares of Spirit of Texas Bancshares by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 41,255 shares of the company’s stock worth $928,000 after acquiring an additional 1,031 shares during the last quarter. Northern Trust Corp increased its position in shares of Spirit of Texas Bancshares by 5.5% during the second quarter. Northern Trust Corp now owns 106,989 shares of the company’s stock worth $2,407,000 after acquiring an additional 5,586 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of Spirit of Texas Bancshares by 14.2% during the second quarter. Parametric Portfolio Associates LLC now owns 12,589 shares of the company’s stock worth $283,000 after acquiring an additional 1,567 shares during the last quarter. 43.43% of the stock is currently owned by institutional investors and hedge funds.

Shares of STXB traded up $0.10 during trading hours on Monday, hitting $22.16. The stock had a trading volume of 3,025 shares, compared to its average volume of 47,337. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.03 and a current ratio of 1.04. The firm has a market cap of $356.06 million, a P/E ratio of 17.45 and a beta of -0.13. The company’s fifty day simple moving average is $22.83 and its 200 day simple moving average is $21.88. Spirit of Texas Bancshares has a 12-month low of $20.23 and a 12-month high of $23.48.

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.

Further Reading: Equal Weight Rating

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