Veritex (NASDAQ:VBTX) Rating Lowered to Sell at BidaskClub

BidaskClub downgraded shares of Veritex (NASDAQ:VBTX) from a hold rating to a sell rating in a report released on Tuesday, BidAskClub reports.

Several other equities analysts have also recently issued reports on VBTX. Stephens set a $29.00 price objective on shares of Veritex and gave the company a buy rating in a research note on Tuesday, September 24th. Raymond James increased their price objective on shares of Veritex from $27.00 to $28.00 and gave the company an outperform rating in a research note on Wednesday, October 23rd. Zacks Investment Research upgraded shares of Veritex from a sell rating to a hold rating in a report on Thursday, November 28th. Finally, ValuEngine upgraded shares of Veritex from a strong sell rating to a sell rating in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $28.33.

VBTX traded up $0.01 during trading on Tuesday, hitting $28.51. The stock had a trading volume of 3,132 shares, compared to its average volume of 416,291. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $1.47 billion, a P/E ratio of 15.51 and a beta of 1.54. The company’s 50-day moving average price is $27.97 and its 200 day moving average price is $25.50. Veritex has a twelve month low of $22.30 and a twelve month high of $29.41.

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

In other Veritex news, Director Manuel J. Mehos sold 7,400 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $28.03, for a total value of $207,422.00. Following the completion of the sale, the director now owns 428,993 shares of the company’s stock, valued at $12,024,673.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Blake Bozman sold 15,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $24.99, for a total transaction of $374,850.00. Following the completion of the sale, the director now directly owns 75,425 shares of the company’s stock, valued at approximately $1,884,870.75. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock worth $822,462 in the last 90 days. 4.70% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Phocas Financial Corp. acquired a new stake in Veritex in the second quarter valued at approximately $51,000. Usca Ria LLC acquired a new stake in Veritex in the third quarter valued at approximately $77,000. Quest Capital Management Inc. ADV acquired a new stake in Veritex in the third quarter valued at approximately $93,000. Bank of Montreal Can grew its position in Veritex by 226.6% in the second quarter. Bank of Montreal Can now owns 6,300 shares of the financial services provider’s stock valued at $163,000 after acquiring an additional 4,371 shares in the last quarter. Finally, Royal Bank of Canada grew its position in Veritex by 5.6% in the second quarter. Royal Bank of Canada now owns 9,091 shares of the financial services provider’s stock valued at $236,000 after acquiring an additional 482 shares in the last quarter. 78.91% of the stock is owned by institutional investors.

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.

Read More: Price to Earnings Ratio (PE) Basics

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