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

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

VBTX has been the topic of a number of other research reports. Stephens restated an “equal weight” rating and set a $24.00 price objective on shares of Veritex in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods lowered their price target on Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, January 25th. Finally, Piper Sandler lifted their price objective on Veritex from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. One investment 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $24.38.

Veritex Stock Down 0.0 %

Shares of VBTX traded down $0.01 during trading hours on Friday, hitting $20.49. The company had a trading volume of 640,662 shares, compared to its average volume of 448,625. Veritex has a 52-week low of $14.88 and a 52-week high of $24.46. The firm has a fifty day moving average price of $19.83 and a 200-day moving average price of $20.33. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 11.91 and a beta of 1.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.95 and a current ratio of 0.96.

Veritex (NASDAQ:VBTX) last issued its earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share (EPS) 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 firm had revenue of $191.25 million during the quarter, compared to analysts’ expectations of $109.70 million. During the same period last year, the firm posted $0.79 earnings per share. On average, equities research analysts forecast that Veritex will post 2.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Veritex

Several institutional investors and hedge funds have recently bought and sold shares of VBTX. Lmcg Investments LLC lifted its position in shares of Veritex by 0.4% during the 3rd quarter. Lmcg Investments LLC now owns 149,671 shares of the financial services provider’s stock valued at $2,687,000 after buying an additional 638 shares in the last quarter. Dark Forest Capital Management LP boosted its position in shares of Veritex by 6.3% in the third quarter. Dark Forest Capital Management LP now owns 21,306 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 1,263 shares during the period. Swiss National Bank increased its stake in shares of Veritex by 1.1% in the third quarter. Swiss National Bank now owns 119,217 shares of the financial services provider’s stock worth $2,140,000 after purchasing an additional 1,300 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Veritex during the 1st quarter valued at $29,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in Veritex by 1.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 117,957 shares of the financial services provider’s stock worth $2,117,000 after buying an additional 1,834 shares during the period. 88.31% of the stock is currently owned by hedge funds and other 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.