Veritex (NASDAQ:VBTX) Downgraded by StockNews.com to "Sell"

Veritex (NASDAQ:VBTX - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Tuesday.

Several other brokerages also recently commented on VBTX. Stephens restated an "equal weight" rating and issued a $24.00 target price on shares of Veritex in a research note on Monday, April 1st. Keefe, Bruyette & Woods dropped their price target on Veritex from $29.00 to $27.00 and set an "outperform" rating for the company in a research report on Thursday, January 25th. Finally, Piper Sandler lifted their price target on Veritex from $23.50 to $25.00 and gave the company an "overweight" rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $24.13.

Veritex Stock Performance

VBTX traded down $0.18 during trading hours on Tuesday, hitting $19.26. The stock had a trading volume of 287,180 shares, compared to its average volume of 434,350. Veritex has a 1 year low of $14.88 and a 1 year high of $24.46. The company's fifty day simple moving average is $19.88 and its 200 day simple moving average is $20.20. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. The stock has a market cap of $1.05 billion, a PE ratio of 9.73 and a beta of 1.34.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its earnings results on Monday, January 22nd. The financial services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). Veritex had a return on equity of 9.47% and a net margin of 14.51%. The company had revenue of $77.74 million during the quarter, compared to the consensus estimate of $110.67 million. During the same quarter in the prior year, the business earned $0.74 EPS. The firm's revenue for the quarter was down 35.4% compared to the same quarter last year. Equities analysts anticipate that Veritex will post 2.22 earnings per share for the current year.

Hedge Funds Weigh In On Veritex

Large investors have recently modified their holdings of the company. Point72 Middle East FZE purchased a new position in shares of Veritex during the 4th quarter valued at about $31,000. Quarry LP increased its stake in Veritex by 323.2% in the 1st quarter. Quarry LP now owns 1,676 shares of the financial services provider's stock worth $31,000 after purchasing an additional 1,280 shares during the period. Lazard Asset Management LLC purchased a new position in Veritex in the 1st quarter worth approximately $33,000. Point72 Hong Kong Ltd purchased a new position in Veritex in the 1st quarter worth approximately $41,000. Finally, Coppell Advisory Solutions Corp. purchased a new position in Veritex in the 4th quarter worth approximately $41,000. 88.31% of the stock is 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.

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