Veritex (NASDAQ:VBTX – Get Free Report) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
Separately, Stephens cut their price objective on Veritex from $22.00 to $19.00 and set an “equal weight” rating on the stock in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.83.
Veritex Price Performance
Shares of Veritex stock traded down $0.10 on Wednesday, reaching $24.09. The company’s stock had a trading volume of 245,231 shares, compared to its average volume of 429,275. The company has a market capitalization of $1.31 billion, a P/E ratio of 9.09 and a beta of 1.41. Veritex has a 52-week low of $14.88 and a 52-week high of $29.75. The stock has a 50-day moving average price of $19.86 and a 200-day moving average price of $19.38. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.29.
Veritex (NASDAQ:VBTX – Get Free Report) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The firm had revenue of $109.04 million during the quarter, compared to analyst estimates of $111.60 million. Veritex had a return on equity of 10.19% and a net margin of 19.48%. Analysts expect that Veritex will post 2.65 EPS for the current year.
Insider Buying and Selling
In related news, Director Gregory B. Morrison purchased 1,734 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was bought at an average cost of $17.30 per share, with a total value of $29,998.20. Following the completion of the acquisition, the director now directly owns 29,636 shares in the company, valued at approximately $512,702.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.30% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Veritex
Institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new stake in shares of Veritex in the first quarter worth about $33,000. Cerity Partners LLC purchased a new stake in shares of Veritex in the first quarter worth about $2,067,000. Point72 Hong Kong Ltd acquired a new position in shares of Veritex in the first quarter worth about $41,000. Point72 Middle East FZE acquired a new position in shares of Veritex in the fourth quarter worth about $31,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in shares of Veritex in the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 87.29% of the company’s stock.
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, consumer, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.