StockNews.com Downgrades Veritex (NASDAQ:VBTX) to Sell

Veritex (NASDAQ:VBTX) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

A number of other equities analysts also recently issued reports on VBTX. DA Davidson reissued a “buy” rating and set a $29.00 target price on shares of Veritex in a research note on Wednesday, August 28th. Stephens increased their price objective on Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Raymond James upgraded shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, September 17th. Finally, Piper Sandler upped their price target on shares of Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Veritex currently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Veritex Trading Up 2.0 %

VBTX opened at $27.88 on Tuesday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 17.43 and a beta of 1.37. Veritex has a 52 week low of $15.93 and a 52 week high of $28.46. The business’s 50 day moving average is $25.18 and its two-hundred day moving average is $22.54. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.15.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The firm had revenue of $113.17 million for the quarter, compared to analyst estimates of $110.22 million. Veritex had a return on equity of 7.97% and a net margin of 11.52%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $0.60 earnings per share. On average, research analysts predict that Veritex will post 2.13 EPS for the current year.

Hedge Funds Weigh In On Veritex

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Veritex by 0.6% in the first quarter. Vanguard Group Inc. now owns 3,795,336 shares of the financial services provider’s stock valued at $77,766,000 after acquiring an additional 23,222 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Veritex by 14.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock worth $51,566,000 after purchasing an additional 299,562 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Veritex by 1.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,968,608 shares of the financial services provider’s stock valued at $41,518,000 after purchasing an additional 37,617 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of Veritex by 16.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock worth $34,193,000 after purchasing an additional 235,154 shares during the period. Finally, American Century Companies Inc. increased its position in Veritex by 11.7% during the 2nd quarter. American Century Companies Inc. now owns 827,202 shares of the financial services provider’s stock worth $17,446,000 after purchasing an additional 86,327 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Company Profile

Veritex Holdings, Inc operates as the bank holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company accepts deposit products include demand, savings, money market, and time accounts. Its loan products include commercial real estate and general commercial, mortgage warehouse loans, residential real estate, construction and land, farmland, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.