Stephens Has Lowered Expectations for Veritex (NASDAQ:VBTX) Stock Price

Veritex (NASDAQ:VBTX) had its target price dropped by Stephens from $34.00 to $31.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price target points to a potential upside of 15.67% from the stock’s previous close.

A number of other research analysts have also weighed in on VBTX. Raymond James dropped their price objective on Veritex from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a report on Thursday. DA Davidson increased their price target on shares of Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Hovde Group upgraded shares of Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price objective for the company in a research note on Thursday. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods downgraded shares of Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Veritex Stock Down 0.0 %

VBTX stock opened at $26.80 on Thursday. The stock has a market capitalization of $1.46 billion, a PE ratio of 13.74 and a beta of 1.38. The company has a fifty day moving average of $27.91 and a 200-day moving average of $26.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. Veritex has a one year low of $18.08 and a one year high of $31.62.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Veritex had a net margin of 13.44% and a return on equity of 7.63%. As a group, analysts expect that Veritex will post 2.24 EPS for the current year.

Insider Activity

In related news, Director John Sughrue sold 16,820 shares of Veritex 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 completion of the sale, the director now owns 62,643 shares in the company, valued at approximately $1,894,950.75. This trade represents a 21.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Veritex

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Veritex by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider’s stock valued at $34,064,000 after buying an additional 18,185 shares during the last quarter. Barclays PLC grew its stake in Veritex by 63.8% in the 3rd quarter. Barclays PLC now owns 117,609 shares of the financial services provider’s stock worth $3,095,000 after acquiring an additional 45,787 shares during the period. GAMMA Investing LLC raised its holdings 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 last quarter. JPMorgan Chase & Co. raised 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 valued at $16,618,000 after acquiring an additional 122,809 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of 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 purchasing an additional 2,115 shares during the last quarter. 88.31% of the stock is 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.