Piper Sandler Increases Veritex (NASDAQ:VBTX) Price Target to $26.00

Veritex (NASDAQ:VBTX) had its price target hoisted by equities researchers at Piper Sandler from $25.00 to $26.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 28.90% from the stock’s current price.

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

Veritex Stock Down 1.1 %

Veritex stock opened at $20.17 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.21. Veritex has a 12-month low of $14.88 and a 12-month high of $24.46. The firm’s fifty day moving average is $19.86 and its 200 day moving average is $20.30. The company has a market capitalization of $1.10 billion, a PE ratio of 11.73 and a beta of 1.34.

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 the consensus estimate of $0.59 by ($0.06). Veritex had a return on equity of 8.46% and a net margin of 12.47%. The business had revenue of $191.25 million for the quarter, compared to analyst estimates of $109.70 million. During the same quarter in the previous year, the company posted $0.79 EPS. As a group, sell-side analysts predict that Veritex will post 2.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Veritex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. purchased a new position in Veritex during the 4th quarter valued at $52,000. GAMMA Investing LLC bought a new position in Veritex in the 4th quarter worth about $60,000. Fifth Third Bancorp boosted its stake in Veritex by 1,319.3% in the 3rd quarter. Fifth Third Bancorp now owns 3,236 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 3,008 shares in the last quarter. Quest Partners LLC bought a new position in Veritex during the 4th quarter valued at about $76,000. Finally, TFO Wealth Partners LLC lifted its stake in Veritex by 363,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,636 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 3,635 shares during the period. 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.