Veritex (NASDAQ:VBTX) Stock Rating Upgraded by Hovde Group

Veritex (NASDAQ:VBTXGet Free Report) was upgraded by research analysts at Hovde Group from a “market perform” rating to an “outperform” rating in a research report issued on Thursday,Finviz reports. The firm currently has a $31.50 target price on the financial services provider’s stock. Hovde Group’s price objective indicates a potential upside of 17.76% from the company’s previous close.

VBTX has been the topic of several other research reports. Piper Sandler increased their target price on Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. DA Davidson raised their target price on Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods lowered shares of Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.30.

Check Out Our Latest Research Report on Veritex

Veritex Trading Down 0.7 %

Shares of VBTX opened at $26.75 on Thursday. The firm has a market cap of $1.46 billion, a P/E ratio of 17.15 and a beta of 1.38. Veritex has a fifty-two week low of $18.08 and a fifty-two week high of $31.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The business has a 50-day moving average of $28.01 and a 200 day moving average of $26.33.

Veritex (NASDAQ:VBTXGet Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.02). Veritex had a net margin of 11.11% and a return on equity of 7.79%. As a group, research analysts forecast that Veritex will post 2.17 EPS for the current year.

Insider Activity at Veritex

In other news, Director John Sughrue sold 16,820 shares of Veritex stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.25, for a total value of $508,805.00. Following the transaction, the director now owns 62,643 shares in the company, valued at approximately $1,894,950.75. The trade was a 21.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Veritex

Several institutional investors and hedge funds have recently bought and sold shares of VBTX. Victory Capital Management Inc. raised its stake in shares of Veritex by 0.5% during the third quarter. Victory Capital Management Inc. now owns 1,978,219 shares of the financial services provider’s stock valued at $52,067,000 after acquiring an additional 9,611 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Veritex by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider’s stock worth $34,064,000 after buying an additional 18,185 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Veritex by 67.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider’s stock worth $21,248,000 after buying an additional 325,569 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Veritex by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 732,865 shares of the financial services provider’s stock valued at $19,289,000 after buying an additional 12,286 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Veritex by 13.0% during the third quarter. Wellington Management Group LLP now owns 680,766 shares of the financial services provider’s stock valued at $17,918,000 after acquiring an additional 78,082 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors.

About Veritex

(Get Free Report)

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.

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Analyst Recommendations for Veritex (NASDAQ:VBTX)

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