Stephens Cuts Veritex (NASDAQ:VBTX) Price Target to $31.00

Veritex (NASDAQ:VBTXGet Free Report) had its target price dropped by equities research analysts at Stephens from $34.00 to $31.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective would suggest a potential upside of 15.84% from the company’s previous close.

Several other research firms have also weighed in on VBTX. Hovde Group raised Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 target price on the stock in a report on Thursday. Piper Sandler raised their target price on shares of Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Raymond James reduced their price target on shares of Veritex from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a report on Thursday. DA Davidson raised their price objective on shares of Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods lowered Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th. Three 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, Veritex currently has a consensus rating of “Moderate Buy” and an average target price of $31.30.

View Our Latest Research Report on VBTX

Veritex Price Performance

Shares of VBTX traded up $0.01 during mid-day trading on Thursday, hitting $26.76. The company’s stock had a trading volume of 29,298 shares, compared to its average volume of 442,046. The firm has a 50-day simple moving average of $27.96 and a 200 day simple moving average of $26.33. Veritex has a 1-year low of $18.08 and a 1-year high of $31.62. The firm has a market capitalization of $1.46 billion, a P/E ratio of 17.13 and a beta of 1.38. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

Veritex (NASDAQ:VBTXGet Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Veritex had a return on equity of 7.79% and a net margin of 11.11%. Analysts predict that Veritex will post 2.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Veritex news, Director John Sughrue sold 16,820 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.25, for a total transaction of $508,805.00. Following the transaction, the director now owns 62,643 shares of the company’s stock, valued at $1,894,950.75. This trade represents a 21.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.60% of the stock is owned by corporate insiders.

Institutional Trading of Veritex

A number of institutional investors and hedge funds have recently made changes to their positions in VBTX. USA Financial Formulas acquired a new position in Veritex during the fourth quarter valued at approximately $32,000. R Squared Ltd acquired a new position in shares of Veritex during the 4th quarter valued at $45,000. GAMMA Investing LLC boosted its position in Veritex by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 431 shares during the period. Systematic Financial Management LP purchased a new stake in Veritex during the 3rd quarter worth $98,000. Finally, KBC Group NV raised its position in Veritex by 73.5% in the fourth quarter. KBC Group NV now owns 3,826 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 1,621 shares during the period. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Company Profile

(Get Free Report)

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.

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