Veritex (NASDAQ:VBTX) Stock Rating Upgraded by StockNews.com

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

Other equities analysts have also recently issued reports about the stock. Piper Sandler raised their price target on shares of Veritex from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday. Keefe, Bruyette & Woods reduced their price objective on shares of Veritex from $29.00 to $27.00 and set an “outperform” rating for the company in a research report on Thursday, January 25th. Finally, Stephens reissued an “equal weight” rating and set a $24.00 target price on shares of Veritex in a report on Wednesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Veritex currently has an average rating of “Hold” and an average price target of $24.38.

Veritex Stock Down 1.1 %

Shares of NASDAQ VBTX opened at $20.17 on Thursday. The firm has a market capitalization of $1.10 billion, a PE ratio of 11.73 and a beta of 1.34. The firm’s 50-day moving average is $19.86 and its 200-day moving average is $20.30. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.21. Veritex has a 1 year low of $14.88 and a 1 year high of $24.46.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share 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 8.46%. During the same quarter in the prior year, the business earned $0.79 earnings per share. Equities analysts expect that Veritex will post 2.24 EPS for the current year.

Institutional Trading of Veritex

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Veritex by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 3,772,114 shares of the financial services provider’s stock worth $87,777,000 after purchasing an additional 52,933 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Veritex by 19.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,853,774 shares of the financial services provider’s stock valued at $43,139,000 after buying an additional 305,980 shares during the period. Victory Capital Management Inc. raised its position in shares of Veritex by 5.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,816,084 shares of the financial services provider’s stock worth $42,260,000 after purchasing an additional 93,753 shares during the period. LSV Asset Management raised its position in shares of Veritex by 25.0% during the third quarter. LSV Asset Management now owns 1,591,209 shares of the financial services provider’s stock worth $28,562,000 after purchasing an additional 318,600 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Veritex by 23.2% during the fourth quarter. First Trust Advisors LP now owns 1,303,041 shares of the financial services provider’s stock worth $30,322,000 after purchasing an additional 245,133 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.