Veritex (NASDAQ:VBTX) Earns Buy Rating from DA Davidson

Veritex (NASDAQ:VBTX)‘s stock had its “buy” rating reissued by research analysts at DA Davidson in a research report issued on Monday,Benzinga reports. They currently have a $34.00 target price on the financial services provider’s stock. DA Davidson’s target price indicates a potential upside of 39.29% from the stock’s previous close.

Several other brokerages also recently issued reports on VBTX. Raymond James reduced their price objective on Veritex from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research note on Thursday, January 30th. Stephens reduced their price target on Veritex from $34.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. Finally, Hovde Group upgraded Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price target for the company in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Veritex Stock Down 0.2 %

Shares of Veritex stock opened at $24.41 on Monday. The stock has a 50-day moving average price of $25.93 and a 200 day moving average price of $26.90. The company has a market cap of $1.33 billion, a P/E ratio of 12.52 and a beta of 1.36. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. Veritex has a 1 year low of $18.55 and a 1 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.02). Veritex had a return on equity of 7.59% and a net margin of 13.44%. As a group, analysts expect that Veritex will post 2.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. USA Financial Formulas bought a new position in shares of Veritex in the 4th quarter valued at approximately $32,000. Quarry LP raised its stake in shares of Veritex by 117.0% in the 4th quarter. Quarry LP now owns 1,528 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 824 shares in the last quarter. R Squared Ltd bought a new position in shares of Veritex in the 4th quarter valued at approximately $45,000. GAMMA Investing LLC raised its stake in shares of 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 in the last quarter. Finally, Systematic Financial Management LP bought a new position in shares of Veritex in the 3rd quarter valued at approximately $98,000. 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.