Veritex Holdings, Inc. (VBTX) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Veritex Holdings, Inc. (NASDAQ:VBTX) from a sell rating to a hold rating in a research report report published on Thursday morning.
According to Zacks, “Veritex Holdings, Inc. is a bank holding company. The Bank, through its wholly owned subsidiary, Veritex Community Bank conducts its banking activities. Veritex Community Bank provides various commercial banking services to individual and corporate customers. The company offers a range of deposit accounts, loans and a range of online banking solutions. It offers debit cards, night depository services, direct deposits, cashier’s checks, and letters of credit; cash management deposit products, as well as treasury management services. Veritex Holdings, Inc. is headquartered in Dallas, Texas. “
A number of other equities research analysts also recently issued reports on the company. Piper Jaffray Companies restated a hold rating and set a $29.00 price target on shares of Veritex Holdings in a research note on Friday, July 14th. BidaskClub downgraded Veritex Holdings from a hold rating to a sell rating in a research note on Monday, July 31st. Finally, Stephens set a $32.00 price target on Veritex Holdings and gave the company a buy rating in a research note on Tuesday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Veritex Holdings has an average rating of Hold and an average target price of $31.83.
Shares of Veritex Holdings (NASDAQ VBTX) traded up 0.26% during trading on Thursday, reaching $27.26. 211,247 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $26.02 and a 200 day moving average price of $26.67. Veritex Holdings has a 12 month low of $17.12 and a 12 month high of $29.43. The firm has a market cap of $414.73 million, a price-to-earnings ratio of 27.68 and a beta of 1.66.
Veritex Holdings (NASDAQ:VBTX) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. The business had revenue of $14.14 million during the quarter, compared to the consensus estimate of $16.40 million. Veritex Holdings had a return on equity of 6.09% and a net margin of 22.61%. On average, analysts forecast that Veritex Holdings will post $1.06 EPS for the current year.
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In other Veritex Holdings news, Director Ned N. Fleming III sold 19,800 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $26.12, for a total transaction of $517,176.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ned N. Fleming III sold 26,334 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $26.07, for a total value of $686,527.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 419,800 shares of company stock valued at $11,059,556. Corporate insiders own 9.10% of the company’s stock.
Several large investors have recently made changes to their positions in VBTX. Nationwide Fund Advisors grew its stake in shares of Veritex Holdings by 31.8% during the 2nd quarter. Nationwide Fund Advisors now owns 8,819 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 2,128 shares during the period. Principal Financial Group Inc. bought a new position in shares of Veritex Holdings during the 2nd quarter valued at approximately $259,000. The Manufacturers Life Insurance Company grew its stake in shares of Veritex Holdings by 52.4% during 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 period. Wells Fargo & Company MN grew its stake in shares of Veritex Holdings by 4.1% during the 2nd quarter. Wells Fargo & Company MN now owns 12,596 shares of the financial services provider’s stock valued at $332,000 after acquiring an additional 491 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Veritex Holdings by 66.4% during the 2nd quarter. Rhumbline Advisers now owns 14,807 shares of the financial services provider’s stock valued at $390,000 after acquiring an additional 5,911 shares during the period. Institutional investors own 52.17% of the company’s stock.
About Veritex Holdings
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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