Brokerages Set Veritex Holdings, Inc. (NASDAQ:VBTX) PT at $29.40

Shares of Veritex Holdings, Inc. (NASDAQ:VBTX) have been assigned an average rating of “Moderate Buy” from the five brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $29.40.

A number of brokerages have recently issued reports on VBTX. Piper Sandler increased their target price on Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. DA Davidson increased their price objective on Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods cut shares of Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th.

Insider Activity

In other news, Director John Sughrue sold 16,820 shares of the stock in a transaction on 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 of the company’s stock, valued at $1,894,950.75. This represents a 21.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO C Malcolm Holland III sold 12,777 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $27.69, for a total value of $353,795.13. Following the completion of the sale, the chief executive officer now owns 224,132 shares of the company’s stock, valued at $6,206,215.08. This represents a 5.39 % decrease in their position. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Veritex

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in Veritex by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider’s stock valued at $34,064,000 after acquiring an additional 18,185 shares during the period. Barclays PLC grew its position in shares of Veritex by 63.8% in the 3rd quarter. Barclays PLC now owns 117,609 shares of the financial services provider’s stock valued at $3,095,000 after purchasing an additional 45,787 shares during the period. GAMMA Investing LLC increased its stake in Veritex by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 431 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Veritex by 24.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 631,372 shares of the financial services provider’s stock worth $16,618,000 after buying an additional 122,809 shares during the period. Finally, Stifel Financial Corp raised its holdings in Veritex by 4.6% during the 3rd quarter. Stifel Financial Corp now owns 48,582 shares of the financial services provider’s stock worth $1,279,000 after buying an additional 2,115 shares during the period. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Trading Down 1.4 %

Veritex stock opened at $26.43 on Monday. The business has a 50 day moving average price of $28.29 and a two-hundred day moving average price of $26.14. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. Veritex has a 12 month low of $18.08 and a 12 month high of $31.62. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 16.94 and a beta of 1.38.

Veritex (NASDAQ:VBTX) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. The business had revenue of $113.17 million for the quarter, compared to analysts’ expectations of $110.22 million. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. As a group, equities analysts forecast that Veritex will post 2.17 EPS for the current year.

Veritex Company Profile

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.