Veritex (NASDAQ:VBTX) Downgraded by StockNews.com

Veritex (NASDAQ:VBTXGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

VBTX has been the subject of several other reports. Raymond James lifted their price objective on shares of Veritex from $46.00 to $49.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 27th. Piper Sandler dropped their price objective on shares of Veritex from $49.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, March 9th. DA Davidson reissued a “buy” rating on shares of Veritex in a research note on Wednesday, January 26th. Finally, Zacks Investment Research lowered shares of Veritex from a “buy” rating to a “hold” rating in a research note on Friday, March 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $46.25.

VBTX traded up $0.56 during trading hours on Monday, hitting $32.93. The company’s stock had a trading volume of 326,908 shares, compared to its average volume of 365,567. The business’s 50-day moving average price is $35.67 and its 200-day moving average price is $38.72. Veritex has a 12 month low of $27.28 and a 12 month high of $45.36. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 11.80 and a beta of 1.49. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.69.

Veritex (NASDAQ:VBTXGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The financial services provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). Veritex had a return on equity of 10.64% and a net margin of 37.12%. During the same quarter in the previous year, the business earned $0.64 EPS. On average, analysts forecast that Veritex will post 2.95 earnings per share for the current year.

In other news, Director John Sughrue acquired 4,000 shares of the firm’s stock in a transaction that occurred on Monday, May 2nd. The stock was purchased at an average cost of $33.52 per share, for a total transaction of $134,080.00. Following the completion of the acquisition, the director now directly owns 70,677 shares of the company’s stock, valued at approximately $2,369,093.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pat S. Bolin acquired 13,158 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The stock was purchased at an average price of $38.00 per share, with a total value of $500,004.00. The disclosure for this purchase can be found here. Insiders have bought 17,815 shares of company stock valued at $659,050 over the last three months. Insiders own 4.72% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Veritex by 4.7% in the first quarter. BlackRock Inc. now owns 7,377,556 shares of the financial services provider’s stock worth $281,602,000 after purchasing an additional 328,369 shares in the last quarter. Vanguard Group Inc. raised its holdings in Veritex by 5.6% in the first quarter. Vanguard Group Inc. now owns 3,365,162 shares of the financial services provider’s stock worth $128,448,000 after purchasing an additional 178,482 shares in the last quarter. River Oaks Capital LLC bought a new position in Veritex in the fourth quarter worth about $2,793,000. State Street Corp raised its holdings in Veritex by 19.9% in the first quarter. State Street Corp now owns 2,585,250 shares of the financial services provider’s stock worth $98,679,000 after purchasing an additional 428,226 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Veritex by 129.4% in the first quarter. American Century Companies Inc. now owns 2,360,391 shares of the financial services provider’s stock worth $90,096,000 after purchasing an additional 1,331,430 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

About Veritex (Get Rating)

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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