Veritex (NASDAQ:VBTX) Rating Reiterated by Stephens

Veritex (NASDAQ:VBTXGet Free Report)‘s stock had its “equal weight” rating reissued by Stephens in a research note issued on Monday, Benzinga reports. They presently have a $24.00 target price on the financial services provider’s stock. Stephens’ price objective would indicate a potential upside of 17.13% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Keefe, Bruyette & Woods decreased their price objective 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. Piper Sandler increased their target price on shares of Veritex from $23.50 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Finally, StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a report on Friday, January 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $24.13.

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Veritex Trading Down 0.4 %

VBTX opened at $20.49 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.96. Veritex has a fifty-two week low of $14.88 and a fifty-two week high of $24.46. The firm has a market capitalization of $1.12 billion, a PE ratio of 10.35 and a beta of 1.34. The company’s 50-day moving average is $20.27 and its 200 day moving average is $20.04.

Veritex (NASDAQ:VBTXGet Free Report) last posted its earnings results on Monday, January 22nd. The financial services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The business had revenue of $77.74 million during the quarter, compared to analyst estimates of $110.67 million. Veritex had a return on equity of 9.47% and a net margin of 14.51%. The company’s revenue was down 35.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. As a group, research analysts predict that Veritex will post 2.2 earnings per share for the current fiscal year.

Institutional Trading of Veritex

Institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Veritex by 219.5% during the 1st quarter. Wellington Management Group LLP now owns 1,014,046 shares of the financial services provider’s stock valued at $18,516,000 after buying an additional 696,629 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Veritex by 32.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,641,794 shares of the financial services provider’s stock valued at $77,299,000 after buying an additional 645,296 shares in the last quarter. Millennium Management LLC raised its position in shares of Veritex by 750.4% during the 2nd quarter. Millennium Management LLC now owns 698,771 shares of the financial services provider’s stock valued at $20,446,000 after buying an additional 616,600 shares in the last quarter. First Trust Advisors LP raised its position in Veritex by 429.1% in the 1st quarter. First Trust Advisors LP now owns 673,690 shares of the financial services provider’s stock worth $12,302,000 after purchasing an additional 546,362 shares during the period. Finally, State Street Corp raised its position in Veritex by 19.9% in the 1st quarter. State Street Corp now owns 2,585,250 shares of the financial services provider’s stock worth $98,679,000 after purchasing an additional 428,226 shares during the period. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

Veritex Company Profile

(Get Free Report)

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.

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