Veritex (NASDAQ:VBTX) Downgraded by StockNews.com to “Sell”

Veritex (NASDAQ:VBTX) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

Other equities research analysts have also issued research reports about the company. Piper Sandler lifted their target price on Veritex from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Keefe, Bruyette & Woods dropped their target price 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 reissued an “equal weight” rating and issued a $24.00 target price on shares of Veritex in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Veritex has a consensus rating of “Hold” and a consensus price target of $24.38.

Veritex Trading Down 0.0 %

NASDAQ VBTX opened at $20.49 on Friday. The firm has a market cap of $1.12 billion, a P/E ratio of 11.91 and a beta of 1.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.96 and a quick ratio of 0.95. The stock’s 50-day moving average is $19.83 and its 200-day moving average is $20.35. Veritex has a one year low of $14.88 and a one year high of $24.46.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results 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 business had revenue of $191.25 million for the quarter, compared to analyst estimates of $109.70 million. Veritex had a return on equity of 8.46% and a net margin of 12.47%. During the same period in the prior year, the business earned $0.79 EPS. Sell-side analysts anticipate that Veritex will post 2.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Fidelis Capital Partners LLC bought a new position in Veritex in the first quarter valued at approximately $29,000. Cape Investment Advisory Inc. bought a new position in Veritex in the fourth quarter valued at approximately $52,000. GAMMA Investing LLC bought a new position in Veritex in the fourth quarter valued at approximately $60,000. Fifth Third Bancorp grew its stake in Veritex by 1,319.3% in the third quarter. Fifth Third Bancorp now owns 3,236 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 3,008 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Veritex during the 4th quarter worth approximately $76,000. 88.31% of the stock is currently 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.