Veritex (VBTX) – Investment Analysts’ Weekly Ratings Changes

Several analysts have recently updated their ratings and price targets for Veritex (NASDAQ: VBTX):

  • 2/7/2020 – Veritex was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 1/30/2020 – Veritex had its price target lowered by analysts at Stephens from $35.00 to $34.00. They now have an “overweight” rating on the stock.
  • 1/30/2020 – Veritex had its “buy” rating reaffirmed by analysts at DA Davidson.
  • 1/28/2020 – Veritex was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 1/24/2020 – Veritex was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 1/21/2020 – Veritex was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $32.00 price target on the 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. “
  • 1/15/2020 – Veritex was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 1/14/2020 – Veritex was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 12/23/2019 – Veritex was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 12/17/2019 – Veritex was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.

Shares of NASDAQ VBTX traded down $0.21 during mid-day trading on Friday, reaching $28.68. The company had a trading volume of 17,076 shares, compared to its average volume of 386,763. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.01. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 16.97 and a beta of 1.53. The stock has a fifty day moving average of $28.69 and a two-hundred day moving average of $25.87. Veritex Holdings Inc has a 12-month low of $22.30 and a 12-month high of $29.41.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.05). The company had revenue of $77.00 million for the quarter, compared to analysts’ expectations of $78.40 million. Veritex had a net margin of 22.19% and a return on equity of 10.33%. Sell-side analysts forecast that Veritex Holdings Inc will post 2.34 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th will be paid a dividend of $0.17 per share. The ex-dividend date is Wednesday, February 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.37%. This is a positive change from Veritex’s previous quarterly dividend of $0.13. Veritex’s dividend payout ratio (DPR) is 29.69%.

In other news, CEO C Malcolm Holland III sold 2,500 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $28.17, for a total value of $70,425.00. Following the sale, the chief executive officer now directly owns 104,111 shares of the company’s stock, valued at $2,932,806.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Manuel J. Mehos sold 7,400 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $28.03, for a total value of $207,422.00. Following the sale, the director now owns 428,993 shares of the company’s stock, valued at approximately $12,024,673.79. The disclosure for this sale can be found here. Insiders own 3.92% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in shares of Veritex by 794.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,521,474 shares of the financial services provider’s stock worth $44,321,000 after acquiring an additional 1,351,382 shares during the last quarter. Investment Counselors of Maryland LLC acquired a new position in Veritex during the 4th quarter valued at $26,606,000. Millennium Management LLC boosted its holdings in Veritex by 527.4% in the 3rd quarter. Millennium Management LLC now owns 1,007,168 shares of the financial services provider’s stock valued at $24,438,000 after purchasing an additional 846,632 shares during the period. Wedge Capital Management L L P NC acquired a new position in Veritex in the 4th quarter valued at approximately $9,661,000. Finally, Nuveen Asset Management LLC acquired a new position in Veritex in the 2nd quarter valued at approximately $5,448,000. Institutional investors own 79.41% of the company’s stock.

Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.

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