Veritex (NASDAQ:VBTX) Rating Lowered to Sell at StockNews.com

Veritex (NASDAQ:VBTXGet Free Report) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

VBTX has been the topic of a number of other research reports. Keefe, Bruyette & Woods cut their target price on shares of Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, January 25th. Piper Sandler lifted their price target on Veritex from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Finally, Stephens reaffirmed an “equal weight” rating and set a $24.00 price target on shares of Veritex in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.38.

Get Our Latest Stock Analysis on Veritex

Veritex Stock Performance

Shares of NASDAQ VBTX opened at $20.49 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average price is $19.83 and its two-hundred day moving average price is $20.35. Veritex has a 52-week low of $14.88 and a 52-week high of $24.46. The stock has a market capitalization of $1.12 billion, a P/E ratio of 11.91 and a beta of 1.33.

Veritex (NASDAQ:VBTXGet Free Report) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). Veritex had a return on equity of 8.46% and a net margin of 12.47%. The business had revenue of $191.25 million during the quarter, compared to the consensus estimate of $109.70 million. During the same period in the prior year, the business earned $0.79 EPS. As a group, sell-side analysts forecast that Veritex will post 2.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VBTX. Assenagon Asset Management S.A. increased its holdings in shares of Veritex by 968.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 566,284 shares of the financial services provider’s stock valued at $11,603,000 after purchasing an additional 513,284 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Veritex by 33.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,722,331 shares of the financial services provider’s stock valued at $30,916,000 after purchasing an additional 427,922 shares during the period. Mendon Capital Advisors Corp acquired a new position in shares of Veritex in the 4th quarter valued at about $8,144,000. LSV Asset Management increased its holdings in shares of Veritex by 25.0% in the 3rd quarter. LSV Asset Management now owns 1,591,209 shares of the financial services provider’s stock valued at $28,562,000 after purchasing an additional 318,600 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of 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 valued at $43,139,000 after purchasing an additional 305,980 shares during the period. Institutional investors and hedge funds own 88.31% of the company’s stock.

Veritex Company Profile

(Get Free Report)

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.

Further Reading

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