Veritex (NASDAQ:VBTX) Price Target Raised to $26.00

Veritex (NASDAQ:VBTX) had its price target upped by Piper Sandler from $25.00 to $26.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target points to a potential upside of 28.90% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. StockNews.com cut shares of Veritex from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods reduced their target price on shares of Veritex from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, January 25th. Finally, Stephens restated an “equal weight” rating and set a $24.00 price objective on shares of Veritex in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.38.

Veritex Trading Down 1.1 %

Veritex stock opened at $20.17 on Thursday. 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 PE ratio of 11.73 and a beta of 1.34. The business’s 50-day simple moving average is $19.86 and its 200-day simple moving average is $20.30. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.96 and a current ratio of 0.96.

Veritex (NASDAQ:VBTX) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share 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 period in the previous year, the firm posted $0.79 earnings per share. Equities research analysts forecast that Veritex will post 2.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System boosted its position in Veritex by 26.5% in the first quarter. New York State Teachers Retirement System now owns 23,596 shares of the financial services provider’s stock valued at $483,000 after buying an additional 4,938 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Veritex by 968.5% in the first quarter. Assenagon Asset Management S.A. now owns 566,284 shares of the financial services provider’s stock valued at $11,603,000 after purchasing an additional 513,284 shares in the last quarter. Vanguard Group Inc. increased its stake in Veritex by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 3,772,114 shares of the financial services provider’s stock valued at $87,777,000 after purchasing an additional 52,933 shares in the last quarter. Wellington Management Group LLP grew its holdings 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 valued at $12,734,000 after buying an additional 50,406 shares during the last quarter. Finally, Mendon Capital Advisors Corp acquired a new position in shares of Veritex during the fourth quarter valued at about $8,144,000. 88.31% of the stock is owned by institutional investors.

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.