Veritex (NASDAQ:VBTX) Upgraded to “Strong-Buy” by Raymond James

Veritex (NASDAQ:VBTX) was upgraded by research analysts at Raymond James from a “market perform” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, FinViz reports. The firm currently has a $30.00 price target on the financial services provider’s stock. Raymond James’ price target would indicate a potential upside of 20.43% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. DA Davidson reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Veritex in a report on Wednesday, August 28th. Stephens raised their price target on Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, Piper Sandler upped their price objective on Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $28.00.

Veritex Trading Up 0.4 %

Shares of Veritex stock opened at $24.91 on Tuesday. The company’s fifty day moving average is $23.56 and its two-hundred day moving average is $21.34. Veritex has a 1 year low of $15.93 and a 1 year high of $25.84. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $1.36 billion, a P/E ratio of 14.48 and a beta of 1.37.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). The company had revenue of $106.81 million for the quarter, compared to analysts’ expectations of $108.39 million. Veritex had a net margin of 11.52% and a return on equity of 7.97%. The firm’s revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 earnings per share. Analysts forecast that Veritex will post 2.14 earnings per share for the current year.

Institutional Trading of Veritex

Institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Veritex by 12.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 647,486 shares of the financial services provider’s stock valued at $15,067,000 after buying an additional 73,700 shares in the last quarter. 1492 Capital Management LLC boosted its position in shares of Veritex by 152.9% in the 4th quarter. 1492 Capital Management LLC now owns 208,264 shares of the financial services provider’s stock worth $4,846,000 after buying an additional 125,912 shares in the last quarter. Hsbc Holdings PLC grew its stake in Veritex by 767.5% in the 4th quarter. Hsbc Holdings PLC now owns 277,041 shares of the financial services provider’s stock valued at $6,548,000 after acquiring an additional 245,106 shares during the last quarter. Vanguard Group Inc. increased its holdings in Veritex by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 3,772,114 shares of the financial services provider’s stock valued at $87,777,000 after acquiring an additional 52,933 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its position in Veritex by 16.4% during the first quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock worth $34,193,000 after acquiring an additional 235,154 shares during the last quarter. 88.31% of the stock is currently owned by hedge funds and other 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.