Gerber Kawasaki Wealth & Investment Management cut its holdings in shares of Spirit of Texas Bancshares Inc (NASDAQ:STXB) by 9.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,750 shares of the company’s stock after selling 1,945 shares during the quarter. Gerber Kawasaki Wealth & Investment Management owned approximately 0.19% of Spirit of Texas Bancshares worth $427,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in STXB. BlackRock Inc. acquired a new position in Spirit of Texas Bancshares during the 2nd quarter worth $2,179,000. Northern Trust Corp bought a new position in shares of Spirit of Texas Bancshares during the 2nd quarter worth about $413,000. Chicago Equity Partners LLC bought a new position in shares of Spirit of Texas Bancshares during the 3rd quarter worth about $403,000. Clover Partners L.P. increased its holdings in shares of Spirit of Texas Bancshares by 219.4% during the 3rd quarter. Clover Partners L.P. now owns 79,855 shares of the company’s stock worth $1,724,000 after purchasing an additional 54,855 shares during the period. Finally, ELCO Management Co. LLC increased its holdings in shares of Spirit of Texas Bancshares by 17.6% during the 3rd quarter. ELCO Management Co. LLC now owns 23,339 shares of the company’s stock worth $504,000 after purchasing an additional 3,492 shares during the period. 40.65% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on STXB shares. Piper Jaffray Companies restated a “neutral” rating and set a $22.00 price objective on shares of Spirit of Texas Bancshares in a report on Tuesday, November 20th. Stephens set a $26.00 price objective on shares of Spirit of Texas Bancshares and gave the stock a “buy” rating in a report on Tuesday, February 5th. Finally, Zacks Investment Research downgraded shares of Spirit of Texas Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday.
Shares of NASDAQ:STXB traded down $0.02 on Friday, hitting $21.23. 97,129 shares of the company were exchanged, compared to its average volume of 22,477. Spirit of Texas Bancshares Inc has a one year low of $16.70 and a one year high of $23.53. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $210.97 million and a price-to-earnings ratio of 20.22.
Spirit of Texas Bancshares (NASDAQ:STXB) last posted its quarterly earnings data on Wednesday, January 30th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. The company had revenue of $16.89 million for the quarter, compared to the consensus estimate of $16.10 million. Spirit of Texas Bancshares had a net margin of 14.71% and a return on equity of 8.95%. Equities analysts predict that Spirit of Texas Bancshares Inc will post 1.7 EPS for the current year.
COPYRIGHT VIOLATION WARNING: This news story was first reported by PressOracle and is owned by of PressOracle. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of international copyright & trademark laws. The correct version of this news story can be viewed at https://pressoracle.com/news/2019/03/16/gerber-kawasaki-wealth-investment-management-trims-stake-in-spirit-of-texas-bancshares-inc-stxb.html.
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, 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.
Recommended Story: What causes a recession?
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.