Veritex (NASDAQ:VBTX) Given Equal Weight Rating at Stephens

Veritex (NASDAQ:VBTX)‘s stock had its “equal weight” rating reissued by Stephens in a note issued to investors on Wednesday, Benzinga reports. They presently have a $24.00 target price on the financial services provider’s stock. Stephens’ price target would suggest a potential upside of 16.90% from the company’s current price.

A number of other brokerages have also weighed in on VBTX. Piper Sandler raised their target price on Veritex from $23.50 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. StockNews.com cut Veritex from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods decreased their price objective on Veritex from $29.00 to $27.00 and set an “outperform” rating for the company in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $24.13.

Veritex Stock Down 1.2 %

Shares of VBTX traded down $0.24 during trading hours on Wednesday, reaching $20.53. The company’s stock had a trading volume of 255,778 shares, compared to its average volume of 423,301. The company has a 50 day moving average of $19.86 and a two-hundred day moving average of $20.28. Veritex has a 1-year low of $14.88 and a 1-year high of $24.46. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 10.38 and a beta of 1.34. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.22.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.06). Veritex had a net margin of 14.51% and a return on equity of 9.47%. The company had revenue of $191.25 million for the quarter, compared to analyst estimates of $109.70 million. During the same quarter last year, the business earned $0.79 EPS. As a group, research analysts predict that Veritex will post 2.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Veritex

A number of hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in Veritex in the third quarter worth $529,000. Sippican Capital Advisors grew its position in Veritex by 247.7% during the third quarter. Sippican Capital Advisors now owns 70,215 shares of the financial services provider’s stock worth $1,260,000 after buying an additional 50,023 shares in the last quarter. Fifth Third Bancorp grew its position in Veritex by 1,319.3% during the third quarter. Fifth Third Bancorp now owns 3,236 shares of the financial services provider’s stock worth $58,000 after buying an additional 3,008 shares in the last quarter. Tieton Capital Management LLC boosted its holdings in shares of Veritex by 37.1% in the 3rd quarter. Tieton Capital Management LLC now owns 196,797 shares of the financial services provider’s stock worth $3,533,000 after purchasing an additional 53,298 shares in the last quarter. Finally, Lmcg Investments LLC boosted its holdings in shares of Veritex by 0.4% in the 3rd quarter. Lmcg Investments LLC now owns 149,671 shares of the financial services provider’s stock worth $2,687,000 after purchasing an additional 638 shares in the last quarter. 88.31% of the stock is currently 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.