Shares of Veritex Holdings, Inc. (NASDAQ:VBTX – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $30.00.
Several research analysts have recently weighed in on VBTX shares. StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods cut Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. Piper Sandler boosted their price objective on Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, DA Davidson raised their target price on shares of Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 24th.
Check Out Our Latest Analysis on VBTX
Veritex Stock Up 0.6 %
Veritex (NASDAQ:VBTX – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The business had revenue of $113.17 million for the quarter, compared to analyst estimates of $110.22 million. During the same quarter in the prior year, the firm posted $0.60 EPS. Veritex’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts predict that Veritex will post 2.17 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director John Sughrue sold 16,820 shares of Veritex stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.25, for a total value of $508,805.00. Following the transaction, the director now owns 62,643 shares in the company, valued at $1,894,950.75. This trade represents a 21.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO C Malcolm Holland III sold 12,777 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $27.69, for a total transaction of $353,795.13. Following the sale, the chief executive officer now owns 224,132 shares of the company’s stock, valued at approximately $6,206,215.08. The trade was a 5.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Veritex
A number of large investors have recently bought and sold shares of the stock. R Squared Ltd purchased a new stake in shares of Veritex during the fourth quarter valued at approximately $45,000. KBC Group NV boosted its position in Veritex by 73.5% during the 4th quarter. KBC Group NV now owns 3,826 shares of the financial services provider’s stock valued at $104,000 after buying an additional 1,621 shares during the period. True North Advisors LLC bought a new stake in Veritex in the 4th quarter worth $443,000. USA Financial Formulas purchased a new position in shares of Veritex in the fourth quarter valued at about $32,000. Finally, GAMMA Investing LLC raised its stake in shares of Veritex by 14.7% during the fourth 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. 88.31% of the stock is owned by hedge funds and other institutional investors.
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.
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