StockNews.com Upgrades Veritex (NASDAQ:VBTX) to “Hold”

Veritex (NASDAQ:VBTX) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

VBTX has been the subject of several other research reports. Piper Sandler boosted their price objective on Veritex from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday. Stephens reissued an “equal weight” rating and issued a $24.00 price objective on shares of Veritex in a research report on Wednesday. Finally, Keefe, Bruyette & Woods lowered their price objective 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $24.38.

Veritex Stock Down 1.9 %

Shares of VBTX traded down $0.39 during trading hours on Thursday, hitting $20.40. 1,264,098 shares of the company were exchanged, compared to its average volume of 438,502. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.96 and a current ratio of 0.97. The company has a market cap of $1.11 billion, a PE ratio of 11.86 and a beta of 1.34. The firm’s 50 day moving average is $19.86 and its 200-day moving average is $20.28. Veritex has a 52 week low of $14.88 and a 52 week high of $24.46.

Veritex (NASDAQ:VBTX) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). The firm had revenue of $191.25 million during the quarter, compared to analyst estimates of $109.70 million. Veritex had a net margin of 12.47% and a return on equity of 8.51%. During the same quarter in the previous year, the business posted $0.79 earnings per share. On average, equities research analysts forecast that Veritex will post 2.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VBTX. Cape Investment Advisory Inc. acquired a new position in shares of Veritex in the 4th quarter valued at $52,000. GAMMA Investing LLC bought a new position in Veritex during the fourth quarter worth about $60,000. Fifth Third Bancorp boosted its holdings in Veritex by 1,319.3% during 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. Quest Partners LLC bought a new stake in shares of Veritex in the 4th quarter valued at approximately $76,000. Finally, TFO Wealth Partners LLC raised its holdings in shares of Veritex by 363,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,636 shares of the financial services provider’s stock worth $85,000 after buying an additional 3,635 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Company Profile

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.