Veritex (NASDAQ:VBTX – Get a rating) had its price target lowered by Piper Sandler to $39.00 in a research report released on Monday, Target Stock Advisor reports. Piper Sandler’s price target would indicate a potential upside of 30.22% from the company’s previous close.
Separately, StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a Thursday, June 16 research report.
NASDAQ: VBTX traded at $0.69 during Monday trading hours, hitting $29.95. The company’s stock had a trading volume of 26,929 shares, compared to an average volume of 375,610. The company’s 50-day moving average is $32.45 and its two-hundred-day moving average is 36 $.89. The company has a market capitalization of $1.62 billion, a PE ratio of 10.73 and a beta of 1.50. The company has a debt ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02. Veritex has a 52-week low of $27.28 and a 52-week high of $45.36.
Veritex (NASDAQ:VBTX – Get a rating) last released its quarterly earnings data on Tuesday, April 26. The financial services provider reported earnings per share (EPS) of $0.66 for the quarter, missing the consensus estimate of $0.67 per ($0.01). The company posted revenue of $88.14 million in the quarter, compared to $94.38 million expected by analysts. Veritex had a return on equity of 10.64% and a net margin of 37.12%. In the same quarter a year earlier, the company posted EPS of $0.64. As a group, analysts predict Veritex will post 3 EPS for the current fiscal year.
In other news, Director John Sughrue bought 4,000 shares of the company in a trade dated Monday, May 2. The shares were acquired at an average price of $33.52 per share, for a total transaction of $134,080.00. Following completion of the transaction, the administrator now directly owns 70,677 shares of the company, valued at approximately $2,369,093.04. The acquisition was disclosed in a filing with the SEC, accessible via this link. Also, CEO C Malcolm Holland III sold 5,528 shares of the company in a trade on Thursday, June 2. The shares were sold at an average price of $35.05, for a total value of $193,756.40. Following completion of the transaction, the CEO now owns 154,431 shares of the company, valued at approximately $5,412,806.55. Disclosure of this sale can be found here. Insiders of the company own 3.38% of the shares of the company.
Several institutional investors and hedge funds have recently bought and sold shares of VBTX. River Oaks Capital LLC acquired a new equity stake in Veritex during the fourth quarter valued at $2,793,000. American Century Companies Inc. increased its stake in Veritex shares by 129.4% during the first quarter. American Century Companies Inc. now owns 2,360,391 shares of the financial services provider valued at $90,096,000 after acquiring an additional 1,331,430 shares in the last quarter. GW&K Investment Management LLC acquired a new equity stake in Veritex during the first quarter valued at $22,940,000. FJ Capital Management LLC increased its stake in Veritex shares by 36.6% during the first quarter. FJ Capital Management LLC now owns 1,978,827 shares of the financial services provider valued at $75,532,000 after acquiring an additional 529,827 shares in the last quarter. Finally, State Street Corp increased its stake in Veritex shares by 19.9% during the first quarter. State Street Corp now owns 2,585,250 shares of the financial services provider valued at $98,679,000 after acquiring an additional 428,226 shares in the last quarter. 77.53% of the shares are currently held by institutional investors and hedge funds.
About Veritex (Get a rating)
Veritex Holdings, Inc operates as a bank holding company for Veritex Community Bank which provides various commercial banking products and services to small and medium businesses and professionals. The Company accepts deposit products including current, savings, money market and term accounts. Its lending products include Commercial and General Commercial Real Estate, Warehouse Mortgages, Residential Real Estate, Construction and Land, Farmland, Consumer, Paycheck Protection Program, Residential Lending for 1 to 4 families, agricultural, multi-family residential and consumer, as well as in the form of purchased receivables financing.
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