Veritex (NASDAQ:VBTX) Given Buy Rating at DA Davidson

Veritex (NASDAQ:VBTX)‘s stock had its “buy” rating reaffirmed by stock analysts at DA Davidson in a report issued on Monday,Benzinga reports. They presently have a $34.00 price objective on the financial services provider’s stock. DA Davidson’s target price would indicate a potential upside of 39.12% from the stock’s current price.

VBTX has been the subject of several other research reports. Hovde Group upgraded Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price target for the company in a research note on Thursday, January 30th. Raymond James lowered their price objective on shares of Veritex from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a research report on Thursday, January 30th. Finally, Stephens reduced their target price on Veritex from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Veritex Stock Down 0.0 %

VBTX traded down $0.01 during midday trading on Monday, reaching $24.44. 20,978 shares of the company were exchanged, compared to its average volume of 354,825. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 12.52 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.95. Veritex has a one year low of $18.41 and a one year high of $31.62. The company’s fifty day moving average price is $26.00 and its 200 day moving average price is $26.91.

Veritex (NASDAQ:VBTX) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.02). Veritex had a net margin of 13.44% and a return on equity of 7.59%. As a group, analysts expect that Veritex will post 2.26 EPS for the current year.

Hedge Funds Weigh In On Veritex

Several hedge funds and other institutional investors have recently modified their holdings of VBTX. Atria Investments Inc bought a new position in shares of Veritex during the 3rd quarter valued at approximately $220,000. Empowered Funds LLC lifted its stake in shares of Veritex by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 145,638 shares of the financial services provider’s stock valued at $3,833,000 after purchasing an additional 7,370 shares during the last quarter. Mutual of America Capital Management LLC bought a new position in Veritex during the third quarter valued at $215,000. LMR Partners LLP bought a new stake in Veritex in the third quarter worth about $276,000. Finally, Meeder Asset Management Inc. grew its position in Veritex by 319.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,885 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 3,720 shares during the last quarter. 88.31% of the stock is owned by institutional investors.

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.