Veritex (NASDAQ:VBTX) Downgraded by StockNews.com to “Sell”

Veritex (NASDAQ:VBTX) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Other research analysts also recently issued research reports about the company. Piper Sandler increased their target price on Veritex from $23.50 to $25.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods decreased their price objective on Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, January 25th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $24.00 price objective on shares of Veritex in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $24.13.

Veritex Stock Performance

VBTX stock traded down $0.18 during trading on Tuesday, reaching $19.26. The stock had a trading volume of 287,180 shares, compared to its average volume of 434,350. Veritex has a 52 week low of $14.88 and a 52 week high of $24.46. The stock’s 50 day moving average is $19.88 and its two-hundred day moving average is $20.20. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.05 billion, a PE ratio of 9.73 and a beta of 1.34.

Veritex (NASDAQ:VBTX) last posted its earnings results on Monday, January 22nd. The financial services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Veritex had a net margin of 14.51% and a return on equity of 9.47%. The firm had revenue of $77.74 million during the quarter, compared to the consensus estimate of $110.67 million. During the same period in the prior year, the company posted $0.74 EPS. The firm’s revenue was down 35.4% compared to the same quarter last year. As a group, equities analysts anticipate that Veritex will post 2.22 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Point72 Middle East FZE bought a new stake in Veritex during the 4th quarter valued at approximately $31,000. Quarry LP raised its stake in Veritex by 323.2% during the 1st quarter. Quarry LP now owns 1,676 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 1,280 shares during the period. Lazard Asset Management LLC bought a new stake in Veritex during the 1st quarter valued at approximately $33,000. Point72 Hong Kong Ltd bought a new stake in Veritex during the 1st quarter valued at approximately $41,000. Finally, Coppell Advisory Solutions Corp. bought a new stake in Veritex during the 4th quarter valued at approximately $41,000. Institutional investors own 88.31% of the company’s stock.

About Veritex

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.