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

Veritex (NASDAQ:VBTXGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Several other analysts have also recently issued reports on the company. Zacks Investment Research cut Veritex from a “hold” rating to a “sell” rating in a report on Wednesday, June 1st. Piper Sandler dropped their target price on Veritex from $49.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, March 9th. Two research analysts have rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.25.

NASDAQ VBTX opened at $34.82 on Wednesday. The business has a fifty day moving average price of $34.37 and a 200 day moving average price of $38.10. Veritex has a one year low of $27.28 and a one year high of $45.36. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $1.88 billion, a P/E ratio of 12.48 and a beta of 1.49.

Veritex (NASDAQ:VBTXGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The financial services provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). Veritex had a net margin of 37.12% and a return on equity of 10.64%. During the same period last year, the company earned $0.64 earnings per share. As a group, sell-side analysts predict that Veritex will post 2.96 EPS for the current fiscal year.

In related news, CEO C Malcolm Holland III sold 5,528 shares of the firm’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $35.05, for a total transaction of $193,756.40. Following the completion of the transaction, the chief executive officer now directly owns 154,431 shares in the company, valued at approximately $5,412,806.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Sughrue bought 4,000 shares of the stock in a transaction that occurred on Monday, May 2nd. The shares were purchased at an average price of $33.52 per share, with a total value of $134,080.00. Following the completion of the acquisition, the director now directly owns 70,677 shares in the company, valued at $2,369,093.04. The disclosure for this purchase can be found here. Corporate insiders own 3.38% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its position in Veritex by 2.1% in the 1st quarter. Bank of America Corp DE now owns 194,290 shares of the financial services provider’s stock valued at $7,415,000 after purchasing an additional 3,954 shares in the last quarter. Keeley Teton Advisors LLC acquired a new stake in Veritex in the 1st quarter valued at about $1,401,000. Weiss Multi Strategy Advisers LLC acquired a new stake in Veritex in the 1st quarter valued at about $4,231,000. Alyeska Investment Group L.P. acquired a new stake in Veritex in the 1st quarter valued at about $1,909,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Veritex in the 1st quarter valued at about $41,000. Institutional investors own 77.53% of the company’s stock.

About Veritex (Get Rating)

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, consumer, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.

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