Veritex (NASDAQ:VBTX) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday, BidAskClub reports.

Several other research analysts have also recently weighed in on VBTX. ValuEngine upgraded shares of Veritex from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 19th. Stephens set a $29.00 price objective on Veritex and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Raymond James raised their target price on Veritex from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Zacks Investment Research raised Veritex from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Veritex has an average rating of “Hold” and an average price target of $28.33.

Shares of NASDAQ:VBTX traded up $0.43 during trading on Tuesday, hitting $28.53. The company’s stock had a trading volume of 3,463 shares, compared to its average volume of 514,895. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 15.45 and a beta of 1.54. The company has a 50-day moving average of $27.92 and a 200-day moving average of $25.48. Veritex has a 12 month low of $22.30 and a 12 month high of $29.41.

Veritex (NASDAQ:VBTX) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). Veritex had a net margin of 20.33% and a return on equity of 10.16%. The business had revenue of $79.30 million for the quarter, compared to the consensus estimate of $79.90 million. As a group, research analysts anticipate that Veritex will post 2.31 earnings per share for the current year.

In other Veritex news, Director Manuel J. Mehos sold 7,400 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $25.00, for a total transaction of $185,000.00. Following the sale, the director now owns 434,912 shares in the company, valued at approximately $10,872,800. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Blake Bozman sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $24.99, for a total transaction of $374,850.00. Following the sale, the director now owns 75,425 shares in the company, valued at approximately $1,884,870.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,600 shares of company stock worth $615,040. Insiders own 4.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in Veritex by 5.6% during the 2nd quarter. Royal Bank of Canada now owns 9,091 shares of the financial services provider’s stock worth $236,000 after acquiring an additional 482 shares during the period. Louisiana State Employees Retirement System raised its stake in Veritex by 5.9% during the 3rd quarter. Louisiana State Employees Retirement System now owns 18,000 shares of the financial services provider’s stock worth $437,000 after acquiring an additional 1,000 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in Veritex by 8.6% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 14,611 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 1,160 shares during the period. New York State Teachers Retirement System raised its stake in Veritex by 6.3% during the 3rd quarter. New York State Teachers Retirement System now owns 20,174 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 1,200 shares during the period. Finally, Zacks Investment Management raised its stake in Veritex by 4.0% during the 2nd quarter. Zacks Investment Management now owns 32,461 shares of the financial services provider’s stock worth $842,000 after acquiring an additional 1,254 shares during the period. Institutional investors own 78.91% 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.

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