Stephens Cuts Veritex (NASDAQ:VBTX) Price Target to $31.00

Veritex (NASDAQ:VBTX) had its price target dropped by Stephens from $34.00 to $31.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Stephens’ target price suggests a potential upside of 15.67% from the company’s current price.

Several other research firms also recently issued reports on VBTX. Piper Sandler boosted their price objective on shares of Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Hovde Group upgraded Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price target for the company in a report on Thursday. Raymond James reduced their price objective on Veritex from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a research note on Thursday. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, DA Davidson boosted their price target on Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Veritex currently has an average rating of “Moderate Buy” and an average target price of $31.50.

Veritex Stock Down 0.0 %

Shares of VBTX opened at $26.80 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.46 billion, a PE ratio of 13.74 and a beta of 1.38. The company’s fifty day moving average is $27.91 and its two-hundred day moving average is $26.34. Veritex has a fifty-two week low of $18.08 and a fifty-two week high of $31.62.

Veritex (NASDAQ:VBTX) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Veritex had a return on equity of 7.63% and a net margin of 13.44%. Analysts forecast that Veritex will post 2.24 earnings per share for the current year.

Insider Activity at Veritex

In other Veritex news, Director John Sughrue sold 16,820 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.25, for a total value of $508,805.00. Following the transaction, the director now directly owns 62,643 shares of the company’s stock, valued at $1,894,950.75. This represents a 21.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.60% of the stock is currently owned by company insiders.

Institutional Trading of Veritex

Several institutional investors have recently added to or reduced their stakes in VBTX. Basswood Capital Management L.L.C. acquired a new position in Veritex during the 3rd quarter worth $11,139,000. Assenagon Asset Management S.A. grew its stake in Veritex by 67.6% in the third quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider’s stock worth $21,248,000 after purchasing an additional 325,569 shares in the last quarter. AQR Capital Management LLC increased its holdings in Veritex by 66.5% in the second quarter. AQR Capital Management LLC now owns 424,106 shares of the financial services provider’s stock valued at $8,944,000 after buying an additional 169,448 shares during the last quarter. Stieven Capital Advisors L.P. raised its stake in Veritex by 39.0% during the third quarter. Stieven Capital Advisors L.P. now owns 561,636 shares of the financial services provider’s stock valued at $14,782,000 after buying an additional 157,571 shares in the last quarter. Finally, Raymond James & Associates bought a new position in Veritex during the 3rd quarter worth approximately $3,971,000. 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.