Veritex Holdings, Inc. (VBTX) Receives $31.83 Average PT from Analysts
Veritex Holdings, Inc. (NASDAQ:VBTX) has been given an average rating of “Hold” by the six brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $31.83.
VBTX has been the subject of several recent research reports. Piper Jaffray Companies reissued a “hold” rating and issued a $29.00 price target on shares of Veritex Holdings in a research report on Friday, July 14th. Zacks Investment Research raised Veritex Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. BidaskClub downgraded Veritex Holdings from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Stephens set a $32.00 price objective on Veritex Holdings and gave the company a “buy” rating in a research note on Tuesday, August 8th.
In other news, Director Ned N. Fleming III sold 19,800 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $26.12, for a total value of $517,176.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ned N. Fleming III sold 26,334 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $26.07, for a total transaction of $686,527.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 302,803 shares of company stock valued at $7,910,837. Company insiders own 9.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Kennedy Capital Management Inc. boosted its position in Veritex Holdings by 76.6% in the second quarter. Kennedy Capital Management Inc. now owns 331,285 shares of the financial services provider’s stock valued at $8,723,000 after buying an additional 143,718 shares in the last quarter. Banc Funds Co. LLC grew its stake in Veritex Holdings by 21.6% during the second quarter. Banc Funds Co. LLC now owns 596,442 shares of the financial services provider’s stock worth $15,704,000 after buying an additional 106,000 shares during the last quarter. Jacobs Asset Management LLC grew its stake in Veritex Holdings by 36.4% during the second quarter. Jacobs Asset Management LLC now owns 306,989 shares of the financial services provider’s stock worth $8,083,000 after buying an additional 81,989 shares during the last quarter. State Street Corp grew its stake in Veritex Holdings by 41.3% during the second quarter. State Street Corp now owns 248,839 shares of the financial services provider’s stock worth $6,550,000 after buying an additional 72,729 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Veritex Holdings by 53.8% during the second quarter. Dimensional Fund Advisors LP now owns 198,487 shares of the financial services provider’s stock worth $5,226,000 after buying an additional 69,427 shares during the last quarter. 52.17% of the stock is owned by hedge funds and other institutional investors.
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Shares of Veritex Holdings (VBTX) remained flat at $26.96 during mid-day trading on Wednesday. The company had a trading volume of 287,809 shares. Veritex Holdings has a 1-year low of $15.46 and a 1-year high of $29.43. The company has a market capitalization of $610.29 million, a PE ratio of 26.69 and a beta of 1.66. The stock’s 50 day moving average price is $25.95 and its 200 day moving average price is $26.78.
Veritex Holdings (NASDAQ:VBTX) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. The business had revenue of $14.14 million for the quarter, compared to analyst estimates of $16.40 million. Veritex Holdings had a net margin of 22.61% and a return on equity of 6.09%. Equities research analysts predict that Veritex Holdings will post $1.06 earnings per share for the current year.
Veritex Holdings 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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