Veritex (NASDAQ:VBTX) Stock Rating Upgraded by Hovde Group

Veritex (NASDAQ:VBTX) was upgraded by equities research analysts at Hovde Group from a “market perform” rating to an “outperform” rating in a report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a $31.50 target price on the financial services provider’s stock. Hovde Group’s price objective points to a potential upside of 17.54% from the company’s previous close.

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

Veritex Stock Down 0.0 %

Shares of Veritex stock opened at $26.80 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.46 billion, a P/E ratio of 13.74 and a beta of 1.38. The firm’s 50 day moving average price is $27.91 and its 200-day moving average price is $26.34. Veritex has a 52-week low of $18.08 and a 52-week high of $31.62.

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

Insider Buying and Selling at Veritex

In related news, Director John Sughrue sold 16,820 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.25, for a total value of $508,805.00. Following the completion of the transaction, the director now directly owns 62,643 shares in the company, valued at $1,894,950.75. The trade was a 21.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Veritex by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider’s stock valued at $34,064,000 after acquiring an additional 18,185 shares during the period. Barclays PLC lifted its position in shares of Veritex by 63.8% during the 3rd quarter. Barclays PLC now owns 117,609 shares of the financial services provider’s stock valued at $3,095,000 after buying an additional 45,787 shares in the last quarter. 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 acquiring an additional 431 shares during the period. JPMorgan Chase & Co. increased its holdings in Veritex by 24.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 631,372 shares of the financial services provider’s stock worth $16,618,000 after acquiring an additional 122,809 shares in the last quarter. Finally, Stifel Financial Corp raised its position in Veritex by 4.6% during the third quarter. Stifel Financial Corp now owns 48,582 shares of the financial services provider’s stock worth $1,279,000 after acquiring an additional 2,115 shares during the period. Hedge funds and other institutional investors own 88.31% of the company’s stock.

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.