Veritex (NASDAQ:VBTX) Given Neutral Rating at Piper Sandler

Veritex (NASDAQ:VBTX - Get Free Report)'s stock had its "neutral" rating restated by equities researchers at Piper Sandler in a research note issued on Wednesday,Benzinga reports. They presently have a $34.00 price objective on the financial services provider's stock, up from their previous price objective of $30.00. Piper Sandler's price objective points to a potential upside of 5.92% from the stock's current price.

VBTX has been the subject of a number of other reports. DA Davidson decreased their price target on Veritex from $34.00 to $32.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods dropped their target price on Veritex from $33.00 to $30.00 and set a "market perform" rating on the stock in a research report on Thursday, April 24th. William Blair raised Veritex to an "outperform" rating in a research note on Monday. The Goldman Sachs Group started coverage on Veritex in a research note on Monday. They issued a "buy" rating on the stock. Finally, Raymond James Financial downgraded Veritex from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the stock from $31.00 to $28.00 in a report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.92.

Veritex Price Performance

Shares of NASDAQ:VBTX traded down $0.70 during midday trading on Wednesday, hitting $32.10. The company had a trading volume of 468,766 shares, compared to its average volume of 466,798. Veritex has a twelve month low of $20.10 and a twelve month high of $33.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 15.67 and a beta of 1.03. The business's 50-day simple moving average is $25.83 and its 200-day simple moving average is $25.16.

Veritex (NASDAQ:VBTX - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.02. Veritex had a return on equity of 7.51% and a net margin of 14.12%. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, research analysts predict that Veritex will post 2.26 earnings per share for the current year.

Institutional Investors Weigh In On Veritex

Several institutional investors and hedge funds have recently modified their holdings of VBTX. Acadian Asset Management LLC acquired a new stake in shares of Veritex in the 1st quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new position in Veritex during the 1st quarter worth $31,000. Quarry LP lifted its position in 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 acquiring an additional 824 shares during the last quarter. GAMMA Investing LLC lifted its position in 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 acquiring an additional 1,011 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Veritex during the 1st quarter worth about $135,000. Institutional investors and hedge funds own 88.31% of the company's stock.

About Veritex

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.