Veritex (VBTX) Upgraded to “Sell” by BidaskClub

Veritex (NASDAQ:VBTX) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Monday, April 1st, BidAskClub reports.

Several other brokerages have also weighed in on VBTX. Zacks Investment Research upgraded shares of Veritex from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Friday, March 1st. Stephens set a $31.00 price objective on shares of Veritex and gave the stock a “buy” rating in a report on Tuesday, January 29th. Finally, ValuEngine lowered shares of Veritex from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $32.00.

NASDAQ:VBTX traded down $0.28 on Monday, reaching $25.63. The stock had a trading volume of 423,300 shares, compared to its average volume of 384,368. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.44 and a beta of 1.71. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. Veritex has a 12-month low of $20.34 and a 12-month high of $33.08.

Veritex (NASDAQ:VBTX) last released its earnings results on Monday, January 28th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. The company had revenue of $32.31 million for the quarter, compared to analyst estimates of $30.73 million. Veritex had a net margin of 25.19% and a return on equity of 7.86%. On average, equities research analysts forecast that Veritex will post 2.53 earnings per share for the current fiscal year.

In other Veritex news, Director Gordon Huddleston bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The stock was purchased at an average price of $26.04 per share, with a total value of $26,040.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO C Malcolm Holland III sold 3,750 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $28.11, for a total transaction of $105,412.50. Following the sale, the chief executive officer now directly owns 104,277 shares of the company’s stock, valued at approximately $2,931,226.47. The disclosure for this sale can be found here. Corporate insiders own 4.70% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Veritex by 102.0% during the 4th quarter. BlackRock Inc. now owns 3,449,209 shares of the financial services provider’s stock worth $73,743,000 after purchasing an additional 1,741,453 shares in the last quarter. Mendon Capital Advisors Corp grew its position in Veritex by 112.8% in the fourth quarter. Mendon Capital Advisors Corp now owns 1,591,930 shares of the financial services provider’s stock valued at $34,035,000 after acquiring an additional 843,754 shares in the last quarter. Vanguard Group Inc grew its position in Veritex by 1.1% in the third quarter. Vanguard Group Inc now owns 958,672 shares of the financial services provider’s stock valued at $27,092,000 after acquiring an additional 10,274 shares in the last quarter. Vanguard Group Inc. grew its position in Veritex by 1.1% in the third quarter. Vanguard Group Inc. now owns 958,672 shares of the financial services provider’s stock valued at $27,092,000 after acquiring an additional 10,274 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Veritex by 8.1% in the third quarter. Dimensional Fund Advisors LP now owns 944,165 shares of the financial services provider’s stock valued at $26,682,000 after acquiring an additional 70,651 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

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.

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