Stephens Has Lowered Expectations for Veritex (NASDAQ:VBTX) Stock Price

Veritex (NASDAQ:VBTX) had its target price reduced by research analysts at Stephens from $34.00 to $31.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective indicates a potential upside of 15.84% from the stock’s current price.

A number of other research analysts also recently issued reports on VBTX. Piper Sandler boosted their price objective on Veritex from $27.00 to $30.00 and gave the company an “overweight” 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 research note on Wednesday, October 30th. DA Davidson lifted their target price on shares of Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Hovde Group upgraded Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price target for the company in a research note on Thursday. Finally, Raymond James decreased their price target on Veritex from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a report on Thursday. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.30.

Veritex Stock Performance

Shares of VBTX traded up $0.01 during mid-day trading on Thursday, hitting $26.76. 29,298 shares of the company traded hands, compared to its average volume of 442,046. Veritex has a 1 year low of $18.08 and a 1 year high of $31.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a 50-day moving average price of $27.96 and a two-hundred day moving average price of $26.33. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 17.13 and a beta of 1.38.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Veritex had a net margin of 11.11% and a return on equity of 7.79%. Equities analysts anticipate that Veritex will post 2.17 earnings per share for the current year.

Insider Activity

In other news, Director John Sughrue sold 16,820 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.25, for a total transaction of $508,805.00. Following the transaction, the director now owns 62,643 shares in the company, valued at $1,894,950.75. This represents a 21.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Veritex

A number of large investors have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new position in Veritex during the second quarter worth $730,000. Marshall Wace LLP purchased a new position in Veritex in the 2nd quarter valued at about $2,531,000. AQR Capital Management LLC boosted its holdings in Veritex by 66.5% in the 2nd quarter. AQR Capital Management LLC now owns 424,106 shares of the financial services provider’s stock worth $8,944,000 after buying an additional 169,448 shares during the last quarter. Millennium Management LLC increased its stake in Veritex by 56.2% during the 2nd quarter. Millennium Management LLC now owns 292,499 shares of the financial services provider’s stock worth $6,169,000 after buying an additional 105,261 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Veritex by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 26,684 shares of the financial services provider’s stock valued at $563,000 after acquiring an additional 1,605 shares during the last quarter. Hedge funds and other institutional investors own 88.31% of the company’s stock.

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.