Veritex (NASDAQ:VBTX) Lifted to Hold at StockNews.com

Veritex (NASDAQ:VBTX) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other equities analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, January 25th. Piper Sandler boosted their target price on shares of Veritex from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Stephens restated an “equal weight” rating and set a $24.00 price objective on shares of Veritex in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.38.

Veritex Price Performance

Shares of NASDAQ:VBTX opened at $20.17 on Thursday. The firm’s 50 day moving average is $19.86 and its two-hundred day moving average is $20.30. Veritex has a 52 week low of $14.88 and a 52 week high of $24.46. The firm has a market capitalization of $1.10 billion, a P/E ratio of 11.73 and a beta of 1.34. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.21.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.53 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 net margin of 12.47% and a return on equity of 8.46%. During the same quarter in the prior year, the business earned $0.79 EPS. Analysts anticipate that Veritex will post 2.24 earnings per share for the current year.

Institutional Trading of Veritex

Several large investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System lifted its position in shares of Veritex by 26.5% during the first quarter. New York State Teachers Retirement System now owns 23,596 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 4,938 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Veritex by 968.5% during the first quarter. Assenagon Asset Management S.A. now owns 566,284 shares of the financial services provider’s stock worth $11,603,000 after acquiring an additional 513,284 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Veritex by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 3,772,114 shares of the financial services provider’s stock worth $87,777,000 after acquiring an additional 52,933 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Veritex by 10.1% during the fourth quarter. Wellington Management Group LLP now owns 547,221 shares of the financial services provider’s stock worth $12,734,000 after acquiring an additional 50,406 shares in the last quarter. Finally, Mendon Capital Advisors Corp bought a new position in Veritex in the fourth quarter valued at $8,144,000. 88.31% of the stock is owned by institutional investors.

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.