Veritex (NASDAQ:VBTX) Downgraded to "Sell" at StockNews.com

Veritex (NASDAQ:VBTX - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Tuesday.

Other equities analysts have also issued reports about the company. Stephens boosted their target price on Veritex from $24.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 25th. Piper Sandler boosted their price objective on shares of Veritex from $26.00 to $27.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. DA Davidson reaffirmed a "buy" rating and issued a $29.00 target price on shares of Veritex in a research note on Wednesday, August 28th. Finally, Raymond James raised shares of Veritex from a "market perform" rating to a "strong-buy" rating and set a $30.00 target price for the company in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

Veritex Price Performance

Shares of VBTX traded up $0.34 during mid-day trading on Tuesday, hitting $27.34. 354,444 shares of the company traded hands, compared to its average volume of 403,060. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $25.06 and a 200 day moving average of $22.50. Veritex has a one year low of $15.93 and a one year high of $28.09. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 17.09 and a beta of 1.37.

Veritex (NASDAQ:VBTX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.01). The firm had revenue of $106.81 million during the quarter, compared to analyst estimates of $108.39 million. Veritex had a return on equity of 7.97% and a net margin of 11.52%. Veritex's revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 earnings per share. As a group, equities analysts expect that Veritex will post 2.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Veritex

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in Veritex by 10.1% in the fourth quarter. Wellington Management Group LLP now owns 547,221 shares of the financial services provider's stock valued at $12,734,000 after buying an additional 50,406 shares in the last quarter. Vanguard Group Inc. increased its position in Veritex by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 3,772,114 shares of the financial services provider's stock worth $87,777,000 after purchasing an additional 52,933 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Veritex by 11.7% in the 1st quarter. Principal Financial Group Inc. now owns 316,050 shares of the financial services provider's stock valued at $6,476,000 after purchasing an additional 33,166 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Veritex by 38.7% in the first quarter. BNP Paribas Financial Markets now owns 53,362 shares of the financial services provider's stock valued at $1,093,000 after buying an additional 14,884 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in Veritex in the first quarter valued at approximately $332,000. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Company Profile

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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