ValuEngine Upgrades Veritex (NASDAQ:VBTX) to “Sell”

Veritex (NASDAQ:VBTX) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a report issued on Tuesday, ValuEngine reports.

A number of other analysts have also recently weighed in on VBTX. Raymond James increased their price objective on Veritex from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Zacks Investment Research cut Veritex from a “hold” rating to a “sell” rating in a research report on Saturday. BidaskClub cut Veritex from a “sell” rating to a “strong sell” rating in a research report on Friday, August 9th. Finally, Stephens set a $29.00 price objective on Veritex and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Three analysts have rated the stock with a sell rating and two have issued a buy rating to the company. Veritex currently has an average rating of “Hold” and an average target price of $28.33.

Veritex stock opened at $24.77 on Tuesday. Veritex has a twelve month low of $20.34 and a twelve month high of $28.53. The stock has a 50 day moving average of $24.51 and a two-hundred day moving average of $25.04. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 13.46 and a beta of 1.56.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Veritex had a return on equity of 10.16% and a net margin of 20.33%. The company had revenue of $79.30 million for the quarter, compared to analyst estimates of $79.90 million. Equities analysts predict that Veritex will post 2.31 earnings per share for the current year.

In other news, Director Blake Bozman sold 15,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $24.99, for a total transaction of $374,850.00. Following the completion of the transaction, the director now directly owns 75,425 shares of the company’s stock, valued at approximately $1,884,870.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Manuel J. Mehos sold 7,400 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.40, for a total value of $187,960.00. Following the transaction, the director now directly owns 440,831 shares of the company’s stock, valued at $11,197,107.40. The disclosure for this sale can be found here. Insiders have sold a total of 32,000 shares of company stock valued at $803,000 over the last ninety days. 3.92% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of VBTX. First Trust Advisors LP raised its stake in shares of Veritex by 86.6% during the 1st quarter. First Trust Advisors LP now owns 129,093 shares of the financial services provider’s stock worth $3,127,000 after buying an additional 59,918 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Veritex during the 2nd quarter worth approximately $247,000. Confluence Investment Management LLC raised its stake in shares of Veritex by 0.8% during the 2nd quarter. Confluence Investment Management LLC now owns 191,828 shares of the financial services provider’s stock worth $4,978,000 after buying an additional 1,520 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Veritex by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 70,708 shares of the financial services provider’s stock worth $1,835,000 after buying an additional 1,059 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Veritex by 152.5% during the 2nd quarter. SG Americas Securities LLC now owns 76,613 shares of the financial services provider’s stock worth $1,988,000 after buying an additional 46,272 shares in the last quarter. 76.10% of the stock is owned by institutional investors and hedge funds.

About Veritex

Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.

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