Veritex (NASDAQ:VBTX) Given Equal Weight Rating at Stephens

Veritex (NASDAQ:VBTX)‘s stock had its “equal weight” rating reiterated by equities researchers at Stephens in a report released on Wednesday, Benzinga reports. They currently have a $24.00 target price on the financial services provider’s stock. Stephens’ price objective would indicate a potential upside of 16.90% from the stock’s previous close.

Several other equities research analysts have also issued reports on VBTX. StockNews.com lowered Veritex from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Piper Sandler increased their price target on Veritex from $23.50 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods reduced their price target on Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.13.

Veritex Stock Performance

Shares of NASDAQ:VBTX traded down $0.24 during midday trading on Wednesday, reaching $20.53. 255,778 shares of the company’s stock traded hands, compared to its average volume of 423,301. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 10.38 and a beta of 1.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.96 and a current ratio of 0.97. Veritex has a one year low of $14.88 and a one year high of $24.46. The stock has a 50 day moving average of $19.86 and a 200 day moving average of $20.28.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). Veritex had a net margin of 14.51% and a return on equity of 9.47%. The firm had revenue of $191.25 million for the quarter, compared to the consensus estimate of $109.70 million. During the same period in the previous year, the company posted $0.79 earnings per share. As a group, equities research analysts anticipate that Veritex will post 2.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Veritex

A number of institutional investors have recently added to or reduced their stakes in the stock. Lmcg Investments LLC lifted its position in Veritex by 0.4% during the third quarter. Lmcg Investments LLC now owns 149,671 shares of the financial services provider’s stock worth $2,687,000 after buying an additional 638 shares in the last quarter. Dark Forest Capital Management LP increased its stake in Veritex by 6.3% during the third quarter. Dark Forest Capital Management LP now owns 21,306 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 1,263 shares during the last quarter. Swiss National Bank increased its stake in Veritex by 1.1% during the third quarter. Swiss National Bank now owns 119,217 shares of the financial services provider’s stock worth $2,140,000 after acquiring an additional 1,300 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Veritex by 1.6% during the third quarter. Public Employees Retirement System of Ohio now owns 117,957 shares of the financial services provider’s stock worth $2,117,000 after acquiring an additional 1,834 shares during the last quarter. Finally, Cape Investment Advisory Inc. acquired a new stake in Veritex during the fourth quarter worth $52,000. 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.