Veritex (NASDAQ:VBTX) Receives Equal Weight Rating from Stephens

Veritex (NASDAQ:VBTX)‘s stock had its “equal weight” rating restated by analysts at Stephens in a report released on Wednesday, Benzinga reports. They currently have a $24.00 price target on the financial services provider’s stock. Stephens’ price objective would indicate a potential upside of 17.65% from the stock’s previous close.

VBTX has been the topic of a number of other research reports. Piper Sandler raised their target price on Veritex from $23.50 to $25.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods reduced their target price on Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, January 25th. Finally, StockNews.com downgraded Veritex from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Veritex presently has an average rating of “Hold” and a consensus target price of $24.38.

Veritex Trading Down 1.9 %

Shares of NASDAQ:VBTX opened at $20.40 on Wednesday. The company has a market capitalization of $1.11 billion, a P/E ratio of 11.86 and a beta of 1.34. Veritex has a 1 year low of $14.88 and a 1 year high of $24.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.96. The business’s 50 day simple moving average is $19.86 and its 200 day simple moving average is $20.28.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). The company had revenue of $191.25 million for the quarter, compared to analyst estimates of $109.70 million. Veritex had a return on equity of 8.51% and a net margin of 12.47%. During the same period in the prior year, the company earned $0.79 EPS. On average, research analysts anticipate that Veritex will post 2.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Veritex

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised 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 during the last quarter. Dimensional Fund Advisors LP raised its position in Veritex by 19.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,853,774 shares of the financial services provider’s stock worth $43,139,000 after purchasing an additional 305,980 shares during the last quarter. Victory Capital Management Inc. raised its position in Veritex by 5.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,816,084 shares of the financial services provider’s stock worth $42,260,000 after purchasing an additional 93,753 shares during the last quarter. LSV Asset Management raised its position in Veritex by 25.0% during the 3rd quarter. LSV Asset Management now owns 1,591,209 shares of the financial services provider’s stock worth $28,562,000 after purchasing an additional 318,600 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Veritex by 23.2% during the 4th quarter. First Trust Advisors LP now owns 1,303,041 shares of the financial services provider’s stock worth $30,322,000 after purchasing an additional 245,133 shares during the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.

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.