Veritex (NASDAQ:VBTX) Rating Lowered to Sell at StockNews.com

StockNews.com cut shares of Veritex (NASDAQ:VBTX) from a hold rating to a sell rating in a report released on Tuesday.

VBTX has been the topic of a number of other research reports. Piper Sandler upped their price target on Veritex from $23.50 to $25.00 and gave the company an overweight rating in a research report on Thursday, January 25th. Keefe, Bruyette & Woods reduced their price target on Veritex from $29.00 to $27.00 and set an outperform rating on the stock in a research report on Thursday, January 25th. Finally, Stephens reiterated an equal weight rating and issued a $24.00 price target on shares of Veritex in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $24.13.

Veritex Trading Down 0.9 %

Shares of VBTX stock opened at $19.26 on Tuesday. The firm has a market capitalization of $1.05 billion, a P/E ratio of 9.73 and a beta of 1.34. Veritex has a twelve month low of $14.88 and a twelve month high of $24.46. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $19.88 and its 200 day simple moving average is $20.20.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Veritex had a net margin of 14.51% and a return on equity of 9.47%. The company had revenue of $77.74 million during the quarter, compared to the consensus estimate of $110.67 million. During the same quarter last year, the firm posted $0.74 EPS. The company’s quarterly revenue was down 35.4% on a year-over-year basis. As a group, sell-side analysts predict that Veritex will post 2.22 EPS for the current fiscal year.

Veritex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Thursday, February 8th. Veritex’s dividend payout ratio is 40.40%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Middle East FZE acquired a new position in shares of Veritex in the 4th quarter valued at about $31,000. Quarry LP raised its stake in Veritex by 323.2% during the 1st quarter. Quarry LP now owns 1,676 shares of the financial services provider’s stock worth $31,000 after buying an additional 1,280 shares during the period. Lazard Asset Management LLC acquired a new position in Veritex during the 1st quarter worth approximately $33,000. Point72 Hong Kong Ltd acquired a new position in Veritex during the 1st quarter worth approximately $41,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in Veritex during the 4th quarter worth approximately $41,000. 88.31% of the stock is 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.