Veritex (NASDAQ:VBTX - Get Free Report) had its target price cut by analysts at Stephens from $34.00 to $31.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Stephens' target price suggests a potential upside of 18.62% from the company's previous close.
Several other brokerages also recently issued reports on VBTX. Hovde Group raised shares of Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 price objective on the stock in a research report on Thursday. DA Davidson boosted their price target on Veritex from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods cut Veritex from an "outperform" rating to a "market perform" rating in a research report on Thursday, October 24th. Piper Sandler boosted their target price on Veritex from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Finally, StockNews.com raised shares of Veritex from a "sell" rating to a "hold" rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $31.50.
Read Our Latest Research Report on VBTX
Veritex Stock Performance
Shares of VBTX traded down $0.67 during midday trading on Thursday, reaching $26.13. 128,740 shares of the stock were exchanged, compared to its average volume of 461,104. Veritex has a twelve month low of $18.08 and a twelve month high of $31.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.94. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 13.44 and a beta of 1.38. The business's 50-day moving average price is $27.85 and its 200 day moving average price is $26.39.
Veritex (NASDAQ:VBTX - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.02). Veritex had a net margin of 13.44% and a return on equity of 7.59%. On average, sell-side analysts expect that Veritex will post 2.25 EPS for the current fiscal year.
Insider Buying and Selling at Veritex
In other news, Director John Sughrue sold 16,820 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.25, for a total value of $508,805.00. Following the completion of the transaction, the director now owns 62,643 shares in the company, valued at $1,894,950.75. This trade represents a 21.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.60% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Veritex
A number of large investors have recently added to or reduced their stakes in VBTX. Basswood Capital Management L.L.C. purchased a new stake in shares of Veritex in the third quarter valued at about $11,139,000. Assenagon Asset Management S.A. lifted its stake in Veritex by 67.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider's stock valued at $21,248,000 after buying an additional 325,569 shares in the last quarter. AQR Capital Management LLC grew its holdings in Veritex by 66.5% during the 2nd quarter. AQR Capital Management LLC now owns 424,106 shares of the financial services provider's stock valued at $8,944,000 after buying an additional 169,448 shares during the last quarter. Stieven Capital Advisors L.P. increased its position in Veritex by 39.0% during the third quarter. Stieven Capital Advisors L.P. now owns 561,636 shares of the financial services provider's stock worth $14,782,000 after buying an additional 157,571 shares in the last quarter. Finally, Raymond James & Associates acquired a new position in shares of Veritex in the third quarter worth $3,971,000. 88.31% of the stock is owned by institutional investors and hedge funds.
Veritex Company Profile
(
Get Free Report)
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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