Zacks Investment Research upgraded shares of Veritex (NASDAQ:VBTX) from a hold rating to a buy rating in a report issued on Wednesday. Zacks Investment Research currently has $31.00 price target on the financial services provider’s stock.
According to Zacks, “Veritex Holdings, Inc. is a bank holding company. The Bank, through its wholly owned subsidiary, Veritex Community Bank conducts its banking activities. Veritex Community Bank provides various commercial banking services to individual and corporate customers. The company offers a range of deposit accounts, loans and a range of online banking solutions. It offers debit cards, night depository services, direct deposits, cashier’s checks, and letters of credit; cash management deposit products, as well as treasury management services. Veritex Holdings, Inc. is headquartered in Dallas, Texas. “
A number of other analysts also recently commented on the company. BidaskClub raised Veritex from a sell rating to a hold rating in a research report on Sunday, February 11th. Piper Jaffray Companies raised Veritex from a neutral rating to an overweight rating in a research report on Thursday, February 1st. Finally, Keefe, Bruyette & Woods began coverage on Veritex in a research report on Tuesday, January 16th. They issued an outperform rating and a $33.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Veritex has an average rating of Buy and an average price target of $31.90.
Shares of Veritex (NASDAQ VBTX) opened at $28.07 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $674.12, a P/E ratio of 29.75, a P/E/G ratio of 1.50 and a beta of 1.53. Veritex has a 52-week low of $23.84 and a 52-week high of $29.43.
Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.08). The business had revenue of $28.05 million for the quarter, compared to analysts’ expectations of $25.90 million. Veritex had a net margin of 18.67% and a return on equity of 5.71%. research analysts anticipate that Veritex will post 1.86 EPS for the current fiscal year.
In other Veritex news, Vice Chairman William C. Murphy sold 55,690 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $28.93, for a total value of $1,611,111.70. Following the completion of the sale, the insider now directly owns 37,111 shares of the company’s stock, valued at $1,073,621.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Clayton Riebe bought 1,775 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was purchased at an average cost of $28.38 per share, with a total value of $50,374.50. The disclosure for this purchase can be found here. Company insiders own 6.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Stifel Financial Corp grew its position in shares of Veritex by 1.0% in the second quarter. Stifel Financial Corp now owns 32,029 shares of the financial services provider’s stock valued at $846,000 after purchasing an additional 302 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Veritex by 4.1% in the second quarter. Wells Fargo & Company MN now owns 12,596 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 491 shares in the last quarter. Nationwide Fund Advisors grew its position in shares of Veritex by 31.8% in the second quarter. Nationwide Fund Advisors now owns 8,819 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 2,128 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Veritex by 10.0% in the second quarter. California State Teachers Retirement System now owns 25,317 shares of the financial services provider’s stock valued at $667,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Monarch Partners Asset Management LLC grew its position in shares of Veritex by 15.3% in the fourth quarter. Monarch Partners Asset Management LLC now owns 22,780 shares of the financial services provider’s stock valued at $629,000 after purchasing an additional 3,030 shares in the last quarter. Institutional investors own 62.01% of the company’s stock.
Veritex Holdings, Inc is a bank holding company. The Company, through its subsidiary, Veritex Community Bank (the Bank), a Texas state chartered bank, provides relationship-driven commercial banking products and services tailored to meet the needs of small to medium-sized businesses and professionals.
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