Veritex (VBTX) Lifted to “Sell” at BidaskClub

BidaskClub upgraded shares of Veritex (NASDAQ:VBTX) from a strong sell rating to a sell rating in a research report released on Tuesday.

Several other equities research analysts also recently issued reports on the stock. Raymond James initiated coverage on shares of Veritex in a research report on Tuesday, October 2nd. They set an outperform rating and a $33.00 price objective for the company. Stephens set a $39.00 target price on shares of Veritex and gave the company a buy rating in a research report on Monday, October 22nd. Sandler O’Neill reaffirmed a buy rating and issued a $37.00 target price on shares of Veritex in a research report on Thursday, July 26th. ValuEngine downgraded shares of Veritex from a hold rating to a sell rating in a research report on Wednesday, October 24th. Finally, Zacks Investment Research downgraded shares of Veritex from a hold rating to a sell rating in a research report on Friday, July 27th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $34.00.

Shares of VBTX stock opened at $24.62 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.17. Veritex has a 12-month low of $20.99 and a 12-month high of $33.08. The firm has a market cap of $571.52 million, a PE ratio of 25.92, a P/E/G ratio of 2.04 and a beta of 1.53.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.10). Veritex had a return on equity of 6.83% and a net margin of 23.12%. The company had revenue of $31.69 million for the quarter, compared to the consensus estimate of $30.50 million. On average, research analysts anticipate that Veritex will post 1.65 EPS for the current fiscal year.

In related news, CEO C Malcolm Holland III sold 3,750 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $30.60, for a total value of $114,750.00. Following the completion of the transaction, the chief executive officer now owns 92,252 shares of the company’s stock, valued at $2,822,911.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.70% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC bought a new position in Veritex in the second quarter valued at $109,000. Advisors Asset Management Inc. bought a new position in Veritex in the third quarter valued at $112,000. Panagora Asset Management Inc. acquired a new stake in Veritex in the third quarter valued at $151,000. Metropolitan Life Insurance Co. NY lifted its stake in Veritex by 43.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 7,811 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 2,368 shares during the last quarter. Finally, Voya Investment Management LLC acquired a new stake in Veritex in the second quarter valued at $246,000. 76.11% of the stock is owned by institutional investors and hedge funds.

Veritex Company Profile

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.

See Also: Fundamental Analysis and Choosing Stocks

Analyst Recommendations for Veritex (NASDAQ:VBTX)

Receive News & Ratings for Veritex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritex and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply