Veritex (NASDAQ:VBTX) Price Target Raised to $39.00 at DA Davidson

Veritex (NASDAQ:VBTX - Get Free Report) had its price objective lifted by investment analysts at DA Davidson from $32.00 to $39.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. DA Davidson's price target would indicate a potential upside of 20.18% from the stock's previous close.

Other analysts also recently issued reports about the company. The Goldman Sachs Group started coverage on Veritex in a report on Monday, July 14th. They issued a "buy" rating for the company. Keefe, Bruyette & Woods lifted their target price on shares of Veritex from $30.00 to $37.00 and gave the stock a "market perform" rating in a research report on Tuesday. William Blair upgraded shares of Veritex to an "outperform" rating in a research note on Monday, July 14th. Stephens restated an "equal weight" rating and set a $30.00 price target on shares of Veritex in a research note on Wednesday, April 23rd. Finally, Piper Sandler reiterated a "neutral" rating and issued a $34.00 price objective (up from $30.00) on shares of Veritex in a research note on Wednesday, July 16th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Veritex currently has an average rating of "Moderate Buy" and an average target price of $33.25.

Veritex Trading Down 0.1%

Veritex stock traded down $0.04 during mid-day trading on Thursday, hitting $32.45. 367,045 shares of the company's stock were exchanged, compared to its average volume of 541,647. The company's 50 day simple moving average is $26.44 and its 200-day simple moving average is $25.31. Veritex has a fifty-two week low of $20.10 and a fifty-two week high of $33.69. The firm has a market capitalization of $1.76 billion, a P/E ratio of 15.46 and a beta of 1.03. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.10.

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

Institutional Trading of Veritex

A number of large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. grew its holdings in Veritex by 9.8% during the 4th quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider's stock valued at $146,000 after purchasing an additional 481 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Veritex by 2.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,978 shares of the financial services provider's stock valued at $521,000 after buying an additional 530 shares during the period. SummerHaven Investment Management LLC boosted its position in Veritex by 1.5% in the 1st quarter. SummerHaven Investment Management LLC now owns 37,056 shares of the financial services provider's stock valued at $925,000 after buying an additional 536 shares during the period. Tower Research Capital LLC TRC boosted its position in Veritex by 7.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,166 shares of the financial services provider's stock valued at $303,000 after buying an additional 751 shares during the period. Finally, Quarry LP boosted its position in Veritex by 117.0% in the 4th quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock valued at $42,000 after buying an additional 824 shares during the period. 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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