StockNews.com Lowers Veritex (NASDAQ:VBTX) to Sell

StockNews.com lowered shares of Veritex (NASDAQ:VBTX) from a hold rating to a sell rating in a research report report published on Friday morning.

VBTX has been the topic of several other reports. Stephens reissued an equal weight rating and issued a $24.00 price objective on shares of Veritex in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods cut their target price on Veritex from $29.00 to $27.00 and set an outperform rating for the company in a research note on Thursday, January 25th. Finally, Piper Sandler lifted their price target on Veritex from $25.00 to $26.00 and gave the company an overweight rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $24.38.

Veritex Trading Down 0.0 %

NASDAQ VBTX opened at $20.49 on Friday. Veritex has a one year low of $14.88 and a one year high of $24.46. The firm has a market cap of $1.12 billion, a PE ratio of 11.91 and a beta of 1.33. The firm’s fifty day moving average is $19.83 and its two-hundred day moving average is $20.37. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.95 and a current ratio of 0.96.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.06). The company had revenue of $191.25 million for the quarter, compared to analysts’ expectations of $109.70 million. Veritex had a net margin of 12.47% and a return on equity of 8.46%. During the same period in the prior year, the company earned $0.79 earnings per share. Analysts expect that Veritex will post 2.2 earnings per share for the current year.

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.90%. Veritex’s payout ratio is 46.51%.

Hedge Funds Weigh In On Veritex

Hedge funds have recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in shares of Veritex during the 1st quarter worth $29,000. Sippican Capital Advisors increased its position in Veritex by 7.2% during the first quarter. Sippican Capital Advisors now owns 95,735 shares of the financial services provider’s stock worth $1,962,000 after buying an additional 6,435 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Veritex in the first quarter valued at $332,000. BNP Paribas Financial Markets boosted its stake in shares of Veritex by 38.7% during the first quarter. BNP Paribas Financial Markets now owns 53,362 shares of the financial services provider’s stock valued at $1,093,000 after acquiring an additional 14,884 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Veritex by 11.7% in the 1st quarter. Principal Financial Group Inc. now owns 316,050 shares of the financial services provider’s stock valued at $6,476,000 after purchasing an additional 33,166 shares during the last quarter. 88.31% of the stock is owned by hedge funds and other institutional investors.

About Veritex

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.