Raymond James Lowers Veritex (NASDAQ:VBTX) Price Target to $31.00

Veritex (NASDAQ:VBTX) had its price objective decreased by stock analysts at Raymond James from $32.00 to $31.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the financial services provider’s stock. Raymond James’ target price indicates a potential upside of 15.67% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Keefe, Bruyette & Woods downgraded Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. Piper Sandler lifted their target price on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. DA Davidson raised their price target on shares of Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Hovde Group upgraded shares of Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 target price for the company in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.50.

Veritex Price Performance

VBTX stock opened at $26.80 on Thursday. Veritex has a one year low of $18.08 and a one year high of $31.62. The firm has a 50-day moving average of $27.91 and a two-hundred day moving average of $26.34. The firm has a market capitalization of $1.46 billion, a PE ratio of 13.74 and a beta of 1.38. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.02). Veritex had a net margin of 13.44% and a return on equity of 7.63%. On average, analysts forecast that Veritex will post 2.24 earnings per share for the current year.

Insiders Place Their Bets

In other Veritex news, Director John Sughrue sold 16,820 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.25, for a total transaction of $508,805.00. Following the transaction, the director now directly owns 62,643 shares in the company, valued at $1,894,950.75. This trade represents a 21.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. USA Financial Formulas bought a new stake in Veritex during the fourth quarter worth approximately $32,000. R Squared Ltd bought a new stake in shares of Veritex during the 4th quarter worth $45,000. GAMMA Investing LLC grew its stake in Veritex by 14.7% in the 4th quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock valued at $91,000 after buying an additional 431 shares during the last quarter. Systematic Financial Management LP bought a new position in Veritex in the 3rd quarter worth $98,000. Finally, KBC Group NV lifted its position in Veritex by 73.5% during the 4th quarter. KBC Group NV now owns 3,826 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 1,621 shares during the last quarter. 88.31% of the stock is owned by institutional investors.

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.