Keefe, Bruyette & Woods Boosts Veritex (NASDAQ:VBTX) Price Target to $37.00

Veritex (NASDAQ:VBTX - Get Free Report) had its price objective upped by investment analysts at Keefe, Bruyette & Woods from $30.00 to $37.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 14.14% from the stock's current price.

Several other analysts have also recently weighed in on the stock. DA Davidson reduced their target price on shares of Veritex from $34.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group began coverage on shares of Veritex in a report on Monday, July 14th. They set a "buy" rating on the stock. Stephens reissued an "equal weight" rating and set a $30.00 price objective on shares of Veritex in a report on Wednesday, April 23rd. Piper Sandler reissued a "neutral" rating and set a $34.00 price objective (up previously from $30.00) on shares of Veritex in a report on Wednesday, July 16th. Finally, Raymond James Financial cut shares of Veritex from a "strong-buy" rating to an "outperform" rating and cut their price objective for the stock from $31.00 to $28.00 in a report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $33.25.

Veritex Stock Up 1.0%

Shares of NASDAQ VBTX traded up $0.32 during midday trading on Tuesday, hitting $32.42. The company's stock had a trading volume of 480,453 shares, compared to its average volume of 545,967. The business's fifty day simple moving average is $26.58 and its two-hundred day simple moving average is $25.35. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.94 and a quick ratio of 0.94. Veritex has a 1 year low of $20.10 and a 1 year high of $33.69. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 15.43 and a beta of 1.03.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. Veritex had a net margin of 14.83% and a return on equity of 7.59%. The business had revenue of $109.83 million during the quarter, compared to analyst estimates of $110.91 million. During the same quarter last year, the firm posted $0.52 earnings per share. On average, equities analysts predict that Veritex will post 2.26 EPS for the current year.

Insider Activity

In other Veritex news, CEO C Malcolm Holland III sold 125,762 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $32.26, for a total transaction of $4,057,082.12. Following the sale, the chief executive officer directly owned 294,508 shares in the company, valued at approximately $9,500,828.08. The trade was a 29.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Angela Harper sold 47,716 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $32.37, for a total transaction of $1,544,566.92. Following the sale, the executive vice president owned 59,683 shares in the company, valued at $1,931,938.71. The trade was a 44.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 300,531 shares of company stock valued at $9,724,762. Corporate insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On Veritex

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in shares of Veritex during the 1st quarter worth $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Veritex during the 1st quarter worth $31,000. Quarry LP boosted its position in shares of Veritex by 117.0% during the 4th quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock worth $42,000 after purchasing an additional 824 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Veritex by 28.9% during the 2nd quarter. GAMMA Investing LLC now owns 4,513 shares of the financial services provider's stock worth $118,000 after purchasing an additional 1,011 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Veritex in the 1st quarter worth about $135,000. 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.