ValuEngine Lowers Veritex (VBTX) to Sell

Share on StockTwits

Veritex (NASDAQ:VBTX) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

A number of other analysts have also commented on the company. Stephens reissued a “buy” rating and set a $32.00 price objective on shares of Veritex in a report on Tuesday. BidaskClub raised Veritex from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, Zacks Investment Research raised Veritex from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Veritex has an average rating of “Buy” and an average target price of $32.25.

VBTX traded up $0.01 during midday trading on Wednesday, reaching $25.95. 513,842 shares of the company were exchanged, compared to its average volume of 378,754. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $1.41 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.48 and a beta of 1.71. Veritex has a one year low of $20.34 and a one year high of $33.08.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Monday, April 22nd. The financial services provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. The firm had revenue of $81.40 million during the quarter, compared to analyst estimates of $78.50 million. Veritex had a return on equity of 7.86% and a net margin of 25.19%. On average, equities analysts forecast that Veritex will post 2.53 earnings per share for the current year.

In other Veritex news, Director Gordon Huddleston bought 1,000 shares of the business’s stock in a transaction dated Thursday, January 31st. The shares were purchased at an average price of $26.04 per share, for a total transaction of $26,040.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO C Malcolm Holland III sold 3,750 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $28.11, for a total value of $105,412.50. Following the completion of the transaction, the chief executive officer now owns 104,277 shares in the company, valued at approximately $2,931,226.47. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. MetLife Investment Advisors LLC boosted its stake in shares of Veritex by 55.1% in the 3rd quarter. MetLife Investment Advisors LLC now owns 17,161 shares of the financial services provider’s stock worth $485,000 after buying an additional 6,100 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Veritex in the third quarter valued at approximately $250,000. Marshall Wace LLP purchased a new position in Veritex in the third quarter valued at approximately $7,735,000. Mendon Capital Advisors Corp lifted its stake in Veritex by 112.8% in the fourth quarter. Mendon Capital Advisors Corp now owns 1,591,930 shares of the financial services provider’s stock valued at $34,035,000 after purchasing an additional 843,754 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Veritex by 26.3% in the third quarter. Renaissance Technologies LLC now owns 74,500 shares of the financial services provider’s stock valued at $2,105,000 after purchasing an additional 15,500 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Veritex Company Profile

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.

See Also: Front-End Load

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.