Veritex (NASDAQ:VBTX) Stock Rating Lowered by StockNews.com

Veritex (NASDAQ:VBTX) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

Several other brokerages have also issued reports on VBTX. Keefe, Bruyette & Woods lowered their price target on shares of Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, January 25th. Stephens reiterated an “equal weight” rating and issued a $24.00 price target on shares of Veritex in a research note on Monday, April 1st. Finally, Piper Sandler lifted their price target on shares of Veritex from $23.50 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $24.13.

Veritex Trading Up 0.1 %

Shares of NASDAQ:VBTX opened at $19.28 on Tuesday. Veritex has a 12 month low of $14.88 and a 12 month high of $24.46. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $19.87 and its 200 day simple moving average is $20.20. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 9.74 and a beta of 1.34.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Veritex had a return on equity of 9.47% and a net margin of 14.51%. The company had revenue of $77.74 million for the quarter, compared to analyst estimates of $110.67 million. During the same quarter in the previous year, the business earned $0.74 earnings per share. The company’s revenue was down 35.4% on a year-over-year basis. As a group, research analysts forecast that Veritex will post 2.22 EPS for the current fiscal year.

Institutional Trading of Veritex

Several hedge funds and other institutional investors have recently modified their holdings of VBTX. Wellington Management Group LLP boosted its holdings in shares of Veritex by 219.5% during the 1st quarter. Wellington Management Group LLP now owns 1,014,046 shares of the financial services provider’s stock worth $18,516,000 after buying an additional 696,629 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Veritex by 32.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,641,794 shares of the financial services provider’s stock worth $77,299,000 after buying an additional 645,296 shares during the period. Millennium Management LLC boosted its holdings in shares of Veritex by 750.4% during the 2nd quarter. Millennium Management LLC now owns 698,771 shares of the financial services provider’s stock worth $20,446,000 after buying an additional 616,600 shares during the period. First Trust Advisors LP boosted its holdings in Veritex by 429.1% in the 1st quarter. First Trust Advisors LP now owns 673,690 shares of the financial services provider’s stock valued at $12,302,000 after purchasing an additional 546,362 shares during the period. Finally, State Street Corp boosted its holdings in Veritex by 19.9% in the 1st quarter. State Street Corp now owns 2,585,250 shares of the financial services provider’s stock valued at $98,679,000 after purchasing an additional 428,226 shares during the period. 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.