Veritex (NASDAQ:VBTX) Earns Buy Rating from DA Davidson

Veritex (NASDAQ:VBTX - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at DA Davidson in a research note issued on Monday,Benzinga reports. They presently have a $34.00 target price on the financial services provider's stock. DA Davidson's target price would suggest a potential upside of 38.66% from the company's previous close.

Several other research firms also recently commented on VBTX. Raymond James dropped their price objective on shares of Veritex from $32.00 to $31.00 and set a "strong-buy" rating for the company in a report on Thursday, January 30th. Stephens dropped their price target on Veritex from $34.00 to $31.00 and set an "equal weight" rating for the company in a research note on Thursday, January 30th. Finally, Hovde Group raised Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 price objective on the stock in a research note on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $31.50.

Veritex Price Performance

Shares of Veritex stock traded up $0.04 during trading hours on Monday, hitting $24.52. The company's stock had a trading volume of 643,506 shares, compared to its average volume of 356,659. The company has a market cap of $1.34 billion, a PE ratio of 12.57 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.95. The business has a 50 day moving average price of $25.88 and a two-hundred day moving average price of $26.87. Veritex has a 12-month low of $18.74 and a 12-month high of $31.62.

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Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.02). Veritex had a return on equity of 7.59% and a net margin of 13.44%. Analysts expect that Veritex will post 2.26 earnings per share for the current fiscal year.

Institutional Trading of Veritex

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. USA Financial Formulas purchased a new stake in shares of Veritex in the fourth quarter valued at $32,000. Quarry LP grew its holdings in Veritex by 117.0% during the 4th quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 824 shares during the last quarter. R Squared Ltd bought a new position in Veritex during the 4th quarter valued at about $45,000. GAMMA Investing LLC raised its position in Veritex by 14.7% in the 4th quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider's stock worth $91,000 after purchasing an additional 431 shares during the period. Finally, Systematic Financial Management LP purchased a new position in shares of Veritex during the third quarter valued at approximately $98,000. 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.