Veritex (NASDAQ:VBTX) Stock Rating Lowered by Raymond James

Veritex (NASDAQ:VBTX) was downgraded by research analysts at Raymond James from a “strong-buy” rating to an “outperform” rating in a research note issued to investors on Wednesday,Finviz reports. They presently have a $28.00 price target on the financial services provider’s stock, down from their prior price target of $31.00. Raymond James’ price target indicates a potential upside of 13.64% from the company’s current price.

Several other research analysts have also commented on the stock. Hovde Group upgraded shares of Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price objective for the company in a report on Thursday, January 30th. DA Davidson reissued a “buy” rating and issued a $34.00 price target on shares of Veritex in a research note on Monday, March 17th. Finally, Stephens cut their price objective on Veritex from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.90.

Veritex Stock Down 1.3 %

NASDAQ VBTX opened at $24.64 on Wednesday. Veritex has a 1 year low of $18.74 and a 1 year high of $31.62. The stock has a market capitalization of $1.34 billion, a PE ratio of 12.64 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.94. The business’s 50-day moving average is $25.70 and its 200 day moving average is $26.93.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Veritex had a return on equity of 7.59% and a net margin of 13.44%. Sell-side analysts forecast that Veritex will post 2.26 earnings per share for the current year.

Hedge Funds Weigh In On Veritex

Several large investors have recently modified their holdings of the stock. USA Financial Formulas bought a new stake in Veritex during the 4th quarter valued at about $32,000. Quarry LP increased its position in shares of Veritex by 117.0% during the fourth 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 in the last quarter. R Squared Ltd purchased a new position in shares of Veritex in the fourth quarter worth $45,000. GAMMA Investing LLC lifted its stake in Veritex by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 431 shares during the period. Finally, Systematic Financial Management LP purchased a new stake in Veritex in the third quarter worth approximately $98,000. Hedge funds and other institutional investors own 88.31% of the company’s stock.

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.