Veritex (VBTX) Upgraded to “Sell” by BidaskClub
BidaskClub upgraded shares of Veritex (NASDAQ:VBTX) from a strong sell rating to a sell rating in a report published on Monday.
A number of other brokerages have also issued reports on VBTX. Zacks Investment Research lowered Veritex from a hold rating to a sell rating in a research note on Friday, October 27th. Keefe, Bruyette & Woods assumed coverage on Veritex in a research report on Tuesday, January 16th. They set an outperform rating and a $33.00 price objective for the company. Finally, Piper Jaffray Companies upgraded Veritex from a neutral rating to an overweight rating in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. Veritex presently has a consensus rating of Buy and a consensus price target of $32.30.
Shares of Veritex (VBTX) opened at $27.45 on Monday. Veritex has a 12 month low of $23.84 and a 12 month high of $29.43. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $686.65, a price-to-earnings ratio of 30.30, a price-to-earnings-growth ratio of 1.53 and a beta of 1.53.
Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Veritex during the third quarter valued at about $145,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Veritex during the third quarter valued at about $236,000. Nationwide Fund Advisors grew its position in shares of Veritex by 31.8% during the second quarter. Nationwide Fund Advisors now owns 8,819 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 2,128 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Veritex in the 2nd quarter valued at about $259,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Veritex by 52.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,518 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 4,304 shares during the last quarter. Hedge funds and other institutional investors own 62.10% of the company’s stock.
WARNING: This news story was first reported by Watch List News and is the property of of Watch List News. If you are reading this news story on another site, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The correct version of this news story can be viewed at https://www.watchlistnews.com/veritex-vbtx-upgraded-to-sell-by-bidaskclub/1848558.html.
Veritex 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.
Receive News & Ratings for Veritex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritex and related companies with MarketBeat.com's FREE daily email newsletter.