Veritex (NASDAQ:VBTX) Lowered to Sell at BidaskClub
A number of other research firms have also recently commented on VBTX. Zacks Investment Research upgraded shares of Veritex from a hold rating to a buy rating and set a $31.00 price target on the stock in a report on Friday, March 1st. Stephens restated a buy rating and issued a $32.00 price target on shares of Veritex in a report on Tuesday, April 23rd. Finally, ValuEngine cut shares of Veritex from a hold rating to a sell rating in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $32.25.
VBTX stock opened at $25.48 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.96 and a quick ratio of 0.96. Veritex has a twelve month low of $20.34 and a twelve month high of $32.99. The company has a market capitalization of $1.36 billion, a PE ratio of 13.85 and a beta of 1.63. The company’s fifty day moving average price is $26.00.
In other Veritex news, Director Pat S. Bolin bought 18,771 shares of the company’s stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $25.80 per share, for a total transaction of $484,291.80. Following the acquisition, the director now directly owns 6,262 shares in the company, valued at $161,559.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Terry Earley bought 6,800 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were acquired at an average price of $25.88 per share, for a total transaction of $175,984.00. Following the completion of the acquisition, the chief financial officer now owns 23,700 shares in the company, valued at $613,356. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 26,571 shares of company stock worth $686,096. Company insiders own 3.92% of the company’s stock.
Institutional investors have recently modified their holdings of the business. LS Investment Advisors LLC grew its holdings in Veritex by 92.1% during the 1st quarter. LS Investment Advisors LLC now owns 1,364 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 654 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Veritex by 142.0% during the first quarter. Bank of Montreal Can now owns 1,929 shares of the financial services provider’s stock valued at $46,000 after buying an additional 1,132 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Veritex by 24.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,736 shares of the financial services provider’s stock valued at $66,000 after buying an additional 533 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Veritex during the first quarter valued at about $75,000. Finally, Pearl River Capital LLC purchased a new stake in shares of Veritex during the first quarter valued at about $78,000. Institutional investors own 75.97% of the company’s stock.
Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.
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