Veritex (NASDAQ:VBTX – Get Rating) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Monday.
A number of other equities analysts have also issued reports on the stock. Stephens lowered shares of Veritex from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $36.00 to $32.00 in a research report on Wednesday, September 7th. Raymond James dropped their target price on shares of Veritex from $38.00 to $36.00 and set an "outperform" rating on the stock in a research report on Tuesday, September 13th. Finally, Piper Sandler dropped their target price on shares of Veritex to $36.00 in a research report on Thursday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $34.67.
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Veritex Trading Up 2.1 %
Shares of Veritex stock traded up $0.55 on Monday, reaching $27.14. 261,384 shares of the company were exchanged, compared to its average volume of 358,414. The stock has a fifty day moving average price of $30.44 and a 200-day moving average price of $32.27. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 9.91 and a beta of 1.43. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.86. Veritex has a fifty-two week low of $26.50 and a fifty-two week high of $45.36.
Veritex (NASDAQ:VBTX – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.14). Veritex had a net
margin of 35.73% and a return on equity of 10.32%. The firm had revenue of $94.86 million during the quarter, compared to the consensus estimate of $98.34 million. During the same period in the prior year, the business earned $0.60 EPS. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. On average, analysts expect that Veritex will post 2.86 EPS for the current year.
Insider Buying and Selling at Veritex
In other Veritex news, CFO Terry Earley purchased 1,180 shares of the stock in a transaction on Friday, July 29th. The shares were purchased at an average price of $30.50 per share, with a total value of $35,990.00. Following the acquisition, the chief financial officer now directly owns 7,980 shares of the company's stock, valued at approximately $243,390. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.38% of the company's stock.
Institutional Investors Weigh In On Veritex
Several institutional investors and hedge funds have recently bought and sold shares of the business. Verition Fund Management LLC bought a new stake in Veritex in the 2nd quarter valued at $248,000. Legal & General Group Plc boosted its stake in shares of Veritex by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 132,219 shares of the financial services provider's stock valued at $3,869,000 after purchasing an additional 6,939 shares in the last quarter. ExodusPoint Capital Management LP boosted its stake in shares of Veritex by 1,294.1% in the 2nd quarter. ExodusPoint Capital Management LP now owns 111,755 shares of the financial services provider's stock valued at $3,270,000 after purchasing an additional 103,739 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Veritex by 30.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 140,865 shares of the financial services provider's stock valued at $4,122,000 after purchasing an additional 32,532 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Veritex in the 2nd quarter valued at $395,000. Institutional investors own 89.32% of the company's stock.
Veritex Company Profile
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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, consumer, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.
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