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

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

Several other analysts have also weighed in on the company. Piper Sandler increased their price target on Veritex from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Keefe, Bruyette & Woods decreased their price target on Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, January 25th. Finally, Stephens restated an “equal weight” rating and set a $24.00 price target on shares of Veritex in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.38.

Veritex Stock Down 1.9 %

Shares of VBTX opened at $21.27 on Tuesday. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 12.37 and a beta of 1.33. Veritex has a 1 year low of $15.93 and a 1 year high of $24.46. The business’s 50 day simple moving average is $20.09 and its 200-day simple moving average is $20.65. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.96 and a quick ratio of 0.95.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). The firm had revenue of $191.25 million for the quarter, compared to analysts’ expectations of $109.70 million. Veritex had a return on equity of 8.46% and a net margin of 12.47%. During the same period last year, the company earned $0.79 earnings per share. As a group, equities analysts expect that Veritex will post 2.2 earnings per share for the current fiscal year.

Institutional Trading of Veritex

A number of hedge funds and other institutional investors have recently bought and sold shares of VBTX. Fidelis Capital Partners LLC purchased a new stake in Veritex in the first quarter worth $29,000. Cape Investment Advisory Inc. bought a new position in shares of Veritex during the 4th quarter worth $52,000. Fifth Third Bancorp grew its position in shares of Veritex by 1,319.3% during the 3rd quarter. Fifth Third Bancorp now owns 3,236 shares of the financial services provider’s stock worth $58,000 after buying an additional 3,008 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Veritex during the 4th quarter worth $60,000. Finally, Quest Partners LLC bought a new position in shares of Veritex during the 4th quarter worth $76,000. 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.