Veritex (VBTX) Upgraded to “Buy” by BidaskClub

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Veritex (NASDAQ:VBTX) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday, BidAskClub reports.

VBTX has been the topic of a number of other reports. ValuEngine downgraded shares of Veritex from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. 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. Finally, Stephens reiterated a “buy” rating and issued a $32.00 price target on shares of Veritex in a report on Tuesday, April 23rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Veritex presently has an average rating of “Buy” and a consensus price target of $32.25.

Shares of VBTX stock opened at $25.56 on Wednesday. The firm has a market cap of $1.40 billion, a PE ratio of 13.89, a PEG ratio of 1.49 and a beta of 1.72. Veritex has a one year low of $20.34 and a one year high of $33.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 0.96.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings data on Monday, April 22nd. The financial services provider reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01. The firm had revenue of $81.40 million for the quarter, compared to the consensus estimate of $78.50 million. Veritex had a net margin of 16.31% and a return on equity of 9.11%. On average, equities analysts forecast that Veritex will post 2.53 EPS for the current fiscal year.

In other Veritex news, CEO C Malcolm Holland III sold 3,750 shares of Veritex stock in a transaction on Friday, March 1st. The shares were sold at an average price of $28.11, for a total value of $105,412.50. Following the sale, the chief executive officer now directly owns 104,277 shares in the company, valued at approximately $2,931,226.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Pat S. Bolin purchased 18,771 shares of Veritex stock in a transaction on Monday, May 13th. The stock was bought at an average price of $25.80 per share, for a total transaction of $484,291.80. Following the completion of the acquisition, the director now owns 6,262 shares in the company, valued at approximately $161,559.60. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 51,571 shares of company stock worth $1,336,096. 4.70% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the business. LS Investment Advisors LLC boosted its stake in shares of 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 purchasing an additional 654 shares during the period. Bank of Montreal Can boosted its stake in shares of Veritex by 142.0% during the 1st quarter. Bank of Montreal Can now owns 1,929 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,132 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Veritex by 48.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,203 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 714 shares during the period. Neuburgh Advisers LLC boosted its stake in shares of Veritex by 285.4% during the 1st quarter. Neuburgh Advisers LLC now owns 2,528 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 1,872 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Veritex by 24.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,736 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 533 shares during the period. 60.82% of the stock is owned by institutional investors and hedge funds.

About Veritex

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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