Investment analysts at Keefe, Bruyette & Woods initiated coverage on shares of Veritex (NASDAQ:VBTX) in a research report issued to clients and investors on Tuesday. The firm set an “outperform” rating and a $33.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 14.74% from the stock’s previous close.
Other research analysts also recently issued research reports about the company. Zacks Investment Research raised Veritex from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective on the stock in a report on Saturday, January 13th. BidaskClub raised Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Veritex has an average rating of “Buy” and an average price target of $32.30.
Shares of Veritex (VBTX) traded up $0.24 on Tuesday, hitting $28.76. The stock had a trading volume of 110,100 shares, compared to its average volume of 154,291. The firm has a market cap of $687.49, a P/E ratio of 30.27, a P/E/G ratio of 1.67 and a beta of 1.62. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.12. Veritex has a fifty-two week low of $23.84 and a fifty-two week high of $29.43.
Veritex (NASDAQ:VBTX) last announced its earnings results on Monday, October 23rd. The financial services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). The business had revenue of $21.11 million during the quarter, compared to analyst estimates of $20.80 million. Veritex had a return on equity of 5.30% and a net margin of 21.85%. sell-side analysts anticipate that Veritex will post 1.06 EPS for the current fiscal year.
In other Veritex news, insider Ned N. Fleming III sold 17,289 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $26.09, for a total transaction of $451,070.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ned N. Fleming III sold 92,711 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $26.00, for a total transaction of $2,410,486.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,370 shares of company stock worth $3,198,144. Company insiders own 6.90% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in VBTX. Northpointe Capital LLC increased its position in shares of Veritex by 72.4% in the 3rd quarter. Northpointe Capital LLC now owns 602,189 shares of the financial services provider’s stock valued at $16,235,000 after buying an additional 252,803 shares in the last quarter. Jacobs Asset Management LLC increased its position in shares of Veritex by 66.2% in the 3rd quarter. Jacobs Asset Management LLC now owns 510,166 shares of the financial services provider’s stock valued at $13,754,000 after buying an additional 203,177 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Veritex by 60.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 318,923 shares of the financial services provider’s stock valued at $8,598,000 after buying an additional 120,436 shares in the last quarter. Banc Funds Co. LLC increased its position in shares of Veritex by 21.6% in the 2nd quarter. Banc Funds Co. LLC now owns 596,442 shares of the financial services provider’s stock valued at $15,704,000 after buying an additional 106,000 shares in the last quarter. Finally, Stieven Capital Advisors L.P. increased its position in shares of Veritex by 47.5% in the 3rd quarter. Stieven Capital Advisors L.P. now owns 306,700 shares of the financial services provider’s stock valued at $8,269,000 after buying an additional 98,800 shares in the last quarter. Institutional investors and hedge funds own 61.82% of the company’s stock.
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Veritex Company Profile
Veritex Holdings, Inc is a bank holding company. The Company, through its subsidiary, Veritex Community Bank (the Bank), a Texas state chartered bank, provides relationship-driven commercial banking products and services tailored to meet the needs of small to medium-sized businesses and professionals.
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