Veritex (NASDAQ:VBTX) Receives “Equal Weight” Rating from Stephens

Stephens reaffirmed their equal weight rating on shares of Veritex (NASDAQ:VBTX) in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a $24.00 price target on the financial services provider’s stock.

Several other brokerages have also recently issued reports on VBTX. Piper Sandler upped their price objective on Veritex from $23.50 to $25.00 and gave the company an overweight rating in a research note on Thursday, January 25th. Keefe, Bruyette & Woods cut their price objective on Veritex from $29.00 to $27.00 and set an outperform rating on the stock in a research note on Thursday, January 25th. Finally, StockNews.com cut Veritex from a hold rating to a sell rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $24.13.

Veritex Price Performance

Shares of NASDAQ VBTX opened at $20.79 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.96. Veritex has a 1-year low of $14.88 and a 1-year high of $24.46. The business has a 50-day moving average of $19.87 and a 200-day moving average of $20.28. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 12.09 and a beta of 1.34.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.06). Veritex had a return on equity of 8.51% and a net margin of 12.47%. The business had revenue of $191.25 million during the quarter, compared to analyst estimates of $109.70 million. During the same quarter last year, the firm posted $0.79 EPS. On average, equities analysts anticipate that Veritex will post 2.24 EPS for the current fiscal year.

Institutional Trading of Veritex

A number of institutional investors and hedge funds have recently made changes to their positions in VBTX. Vanguard Group Inc. grew its holdings in Veritex by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 3,772,114 shares of the financial services provider’s stock worth $87,777,000 after buying an additional 52,933 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Veritex by 19.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,853,774 shares of the financial services provider’s stock worth $43,139,000 after buying an additional 305,980 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Veritex by 5.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,816,084 shares of the financial services provider’s stock worth $42,260,000 after buying an additional 93,753 shares in the last quarter. LSV Asset Management grew its holdings in Veritex by 25.0% in the 3rd quarter. LSV Asset Management now owns 1,591,209 shares of the financial services provider’s stock worth $28,562,000 after buying an additional 318,600 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Veritex by 23.2% in the 4th quarter. First Trust Advisors LP now owns 1,303,041 shares of the financial services provider’s stock worth $30,322,000 after buying an additional 245,133 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.