Veritex (NASDAQ:VBTX) Cut to "Sell" at StockNews.com

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

VBTX has been the subject of a number of other reports. Piper Sandler raised their price target on Veritex from $25.00 to $26.00 and gave the stock an "overweight" rating in a research note on Thursday, April 25th. Keefe, Bruyette & Woods decreased their target price on shares of Veritex from $29.00 to $27.00 and set an "outperform" rating for the company in a research report on Thursday, January 25th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $24.00 price objective on shares of Veritex in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Veritex currently has a consensus rating of "Hold" and a consensus target price of $24.38.

Veritex Price Performance

Shares of NASDAQ VBTX traded up $0.04 during trading on Tuesday, hitting $21.69. The company had a trading volume of 455,448 shares, compared to its average volume of 436,767. The company has a market cap of $1.18 billion, a P/E ratio of 12.61 and a beta of 1.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.95 and a current ratio of 0.96. The business's 50-day moving average is $20.05 and its 200 day moving average is $20.64. Veritex has a 52 week low of $15.93 and a 52 week high of $24.46.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06). The firm had revenue of $191.25 million for the quarter, compared to analysts' expectations of $109.70 million. Veritex had a return on equity of 8.46% and a net margin of 12.47%. During the same quarter in the previous year, the firm posted $0.79 earnings per share. Equities research analysts predict that Veritex will post 2.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Veritex

Large investors have recently modified their holdings of the stock. Ziegler Capital Management LLC acquired a new position in Veritex during the fourth quarter worth $3,443,000. Solutions 4 Wealth Ltd acquired a new stake in shares of Veritex during the 4th quarter worth about $1,308,000. Assenagon Asset Management S.A. acquired a new position in Veritex in the third quarter valued at about $1,012,000. Victory Capital Management Inc. grew its stake in Veritex by 33.1% during the third quarter. Victory Capital Management Inc. now owns 1,722,331 shares of the financial services provider's stock worth $30,916,000 after buying an additional 427,922 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Veritex by 334.0% during the third quarter. AQR Capital Management LLC now owns 242,809 shares of the financial services provider's stock worth $4,358,000 after buying an additional 186,857 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.

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