Piper Sandler Reiterates "Neutral" Rating for Veritex (NASDAQ:VBTX)

Veritex (NASDAQ:VBTX - Get Free Report)'s stock had its "neutral" rating reissued by equities research analysts at Piper Sandler in a research report issued to clients and investors 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 target would indicate a potential upside of 5.43% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Raymond James Financial lowered shares of Veritex from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the company from $31.00 to $28.00 in a research note on Wednesday, April 2nd. Stephens reissued an "equal weight" rating and issued a $30.00 price objective on shares of Veritex in a research note on Wednesday, April 23rd. DA Davidson lowered their price objective on shares of Veritex from $34.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. William Blair raised shares of Veritex to an "outperform" rating in a research note on Monday, July 14th. Finally, The Goldman Sachs Group started coverage on shares of Veritex in a research note on Monday, July 14th. They issued a "buy" rating for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $30.92.

Veritex Trading Down 1.7%

VBTX stock traded down $0.55 during mid-day trading on Wednesday, hitting $32.25. 1,135,347 shares of the company were exchanged, compared to its average volume of 469,065. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.75 billion, a P/E ratio of 14.46 and a beta of 1.03. The business has a fifty day simple moving average of $26.00 and a 200-day simple moving average of $25.19. Veritex has a 12-month low of $20.10 and a 12-month high of $33.69.

Veritex (NASDAQ:VBTX - Get Free Report) last announced its earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. The company had revenue of $109.83 million during the quarter, compared to analyst estimates of $110.91 million. Veritex had a net margin of 14.12% and a return on equity of 7.51%. During the same quarter last year, the firm posted $0.52 earnings per share. On average, equities research analysts predict that Veritex will post 2.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Veritex

Institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new position in shares of Veritex in the 1st quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Veritex in the 1st quarter valued at $31,000. Quarry LP increased its holdings in shares of 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 acquiring an additional 824 shares during the period. GAMMA Investing LLC increased its holdings in shares of Veritex by 28.9% in the 2nd quarter. GAMMA Investing LLC now owns 4,513 shares of the financial services provider's stock valued at $118,000 after acquiring an additional 1,011 shares during the period. Finally, Aquatic Capital Management LLC acquired a new position in shares of Veritex in the 4th quarter valued at $143,000. 88.31% of the stock is owned by institutional investors and hedge funds.

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.