Veritex (NASDAQ:VBTX) Raised to “Hold” at StockNews.com

Veritex (NASDAQ:VBTX) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other equities analysts have also recently issued reports on VBTX. DA Davidson upped their price objective on Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Raymond James raised Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a report on Tuesday, September 17th. Piper Sandler boosted their target price on Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Stephens upped their target price on shares of Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Finally, Keefe, Bruyette & Woods lowered shares of Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Veritex presently has a consensus rating of “Moderate Buy” and an average target price of $29.40.

Veritex Price Performance

VBTX stock opened at $27.32 on Wednesday. The firm has a 50 day moving average price of $25.54 and a 200-day moving average price of $22.77. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 15.88 and a beta of 1.37. Veritex has a 52-week low of $16.93 and a 52-week high of $28.46. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95.

Veritex (NASDAQ:VBTX) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $110.22 million. During the same period in the previous year, the company earned $0.60 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts forecast that Veritex will post 2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Veritex

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sippican Capital Advisors increased its stake in shares of Veritex by 0.4% in the 3rd quarter. Sippican Capital Advisors now owns 99,230 shares of the financial services provider’s stock worth $2,612,000 after purchasing an additional 400 shares in the last quarter. Louisiana State Employees Retirement System increased its position 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 buying an additional 500 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in shares of Veritex by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 47,556 shares of the financial services provider’s stock worth $974,000 after buying an additional 650 shares during the period. ProShare Advisors LLC lifted 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 in the last quarter. Finally, Point72 DIFC Ltd grew its stake 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 acquiring an additional 816 shares during the period. Hedge funds and other institutional investors own 88.31% of the company’s stock.

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.