Veritex (NASDAQ:VBTX – Get a rating) had its price target raised by stock analysts Raymond James from $36.00 to $38.00 in a research report released Thursday, Benzinga reports. The company currently has an “outperform” rating on shares of the financial services provider. Raymond James’ price target would indicate a potential upside of 28.47% from the current share price.
VBTX has been the subject of a number of other reports. Stephens cut Veritex shares from an “overweight” rating to an “equal weight” rating and lowered his price target for the stock from $36.00 to $32.00 in a Wednesday 7 research note. september. Piper Sandler lowered her price target on Veritex shares to $36.00 in a Thursday, September 29 research report. To finish, StockNews.com upgraded Veritex shares from a “sell” rating to a “hold” rating in a Wednesday, Oct. 19 report. Two research analysts gave the stock a hold rating and three gave the stock a buy rating. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $35.33.
Veritex trades up 4.1%
Shares of NASDAQ VBTX opened at $29.58 on Thursday. The company’s 50-day moving average price is $29.06 and its 200-day moving average price is $31.08. The company has a market capitalization of $1.60 billion, a PE ratio of 10.56 and a beta of 1.43. Veritex has a 52-week low of $26.14 and a 52-week high of $45.36. The company has a debt ratio of 0.86, a quick ratio of 1.04 and a current ratio of 1.04.
Veritex (NASDAQ:VBTX – Get a rating) last released its quarterly earnings data on Wednesday, July 27. The financial services provider reported earnings per share of $0.55 for the quarter, missing the consensus estimate of $0.69 per ($0.14). Veritex had a net margin of 35.73% and a return on equity of 10.32%. The company posted revenue of $94.86 million for the quarter, versus $98.34 million expected by analysts. During the same period of the previous year, the company made earnings per share of $0.60. The company’s revenue for the quarter increased 9.2% year over year. On average, equity research analysts expect Veritex to post EPS of 2.84 for the current fiscal year.
Insider Buying and Selling at Veritex
Separately, CFO Terry Earley purchased 1,180 shares of the company in a transaction dated Friday, July 29. The shares were purchased at an average cost of $30.50 per share, with a total value of $35,990.00. Following the acquisition, the CFO now directly owns 7,980 shares of the company, valued at $243,390. The acquisition was disclosed in a filing with the SEC, accessible via this hyperlink. Insiders of the company own 3.38% of the shares of the company.
Institutional investors weigh in on Veritex
Major investors have recently changed their stake in the company. River Oaks Capital LLC increased its position in Veritex shares by 1.4% in the 1st quarter. River Oaks Capital LLC now owns 71,200 shares of the financial services provider valued at $2,718,000 after acquiring an additional 1,000 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Veritex by 5.6% in the first quarter. Mutual of America Capital Management LLC now owns 7,114 shares of the financial services provider valued at $272,000 after buying 379 additional shares in the last quarter. New Jersey State Joint Pension Fund D bought a new position in Veritex in the first quarter, valued at around $2,412,000. Mount Yale Investment Advisors LLC bought a new position in Veritex in the first quarter, valued at around $262,000. Finally, Versor Investments LP acquired a new equity stake in Veritex in the first quarter valued at approximately $218,000. Hedge funds and other institutional investors hold 89.32% of the company’s shares.
About Veritex
Veritex Holdings, Inc. operates as a bank holding company for Veritex Community Bank which provides various commercial banking products and services to small and medium businesses and professionals. The Company accepts deposit products including current, savings, money market and term accounts. Its lending products include Commercial and General Commercial Real Estate, Warehouse Mortgages, Residential Real Estate, Construction and Land, Farmland, Consumer, Paycheck Protection Program, Residential Lending for 1 to 4 families, agricultural, multi-family residential and consumer, as well as in the form of purchased receivables financing.
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