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

Veritex (NASDAQ:VBTX) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

Several other brokerages also recently weighed in on VBTX. Piper Sandler upped their target price on shares of Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. DA Davidson reissued a “buy” rating and issued a $29.00 price objective on shares of Veritex in a research report on Wednesday, August 28th. Stephens lifted their target price on Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Finally, Raymond James raised Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Veritex Price Performance

Shares of NASDAQ VBTX opened at $27.88 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95. Veritex has a 1-year low of $15.93 and a 1-year high of $28.46. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 17.43 and a beta of 1.37. The business has a 50-day moving average of $25.18 and a 200-day moving average of $22.54.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.55 by $0.04. Veritex had a return on equity of 7.97% and a net margin of 11.52%. The firm had revenue of $113.17 million for the quarter, compared to analyst estimates of $110.22 million. During the same period in the previous year, the company posted $0.60 EPS. Veritex’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts anticipate that Veritex will post 2.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Veritex

A number of hedge funds have recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its holdings in Veritex by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the financial services provider’s stock worth $578,000 after purchasing an additional 500 shares during the period. Texas Permanent School Fund Corp boosted its holdings in shares of Veritex by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 47,556 shares of the financial services provider’s stock valued at $974,000 after buying an additional 650 shares during the period. ProShare Advisors LLC grew its position in shares of Veritex by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,622 shares of the financial services provider’s stock valued at $218,000 after buying an additional 728 shares during the last quarter. Point72 DIFC Ltd grew its position in shares of Veritex by 16.5% during the 2nd quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock valued at $122,000 after buying an additional 816 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Veritex during the second quarter worth about $25,000. 88.31% of the stock is currently owned by institutional investors and hedge funds.

About Veritex

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.