BidaskClub Downgrades Veritex (VBTX) to Sell

Veritex (NASDAQ:VBTX) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Separately, Zacks Investment Research upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $31.83.

Shares of Veritex (VBTX) opened at $27.88 on Wednesday. The company has a market cap of $631.45, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 2.88 and a beta of 1.62. Veritex has a 1 year low of $23.84 and a 1 year high of $29.43. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.12.

Veritex (NASDAQ:VBTX) last issued its earnings results on Monday, October 23rd. The financial services provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). The business had revenue of $21.11 million for the quarter, compared to the consensus estimate of $20.80 million. Veritex had a net margin of 21.85% and a return on equity of 5.30%. equities research analysts forecast that Veritex will post 0.99 earnings per share for the current fiscal year.

In other news, insider Ned N. Fleming III sold 66,997 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $26.90, for a total value of $1,802,219.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ned N. Fleming III sold 50,000 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $26.93, for a total transaction of $1,346,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 239,367 shares of company stock valued at $6,346,863 in the last quarter. Corporate insiders own 6.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Stifel Financial Corp grew its holdings in shares of Veritex by 1.0% in the 2nd quarter. Stifel Financial Corp now owns 32,029 shares of the financial services provider’s stock valued at $846,000 after buying an additional 302 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Veritex by 4.1% in the 2nd quarter. Wells Fargo & Company MN now owns 12,596 shares of the financial services provider’s stock valued at $332,000 after buying an additional 491 shares during the period. Nationwide Fund Advisors grew its holdings in shares of Veritex by 31.8% in the 2nd quarter. Nationwide Fund Advisors now owns 8,819 shares of the financial services provider’s stock valued at $232,000 after buying an additional 2,128 shares during the period. California State Teachers Retirement System grew its holdings in shares of Veritex by 10.0% in the 2nd quarter. California State Teachers Retirement System now owns 25,317 shares of the financial services provider’s stock valued at $667,000 after buying an additional 2,300 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in shares of Veritex by 10.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 41,727 shares of the financial services provider’s stock valued at $1,125,000 after buying an additional 4,118 shares during the period. 65.78% of the stock is owned by institutional investors.

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Veritex Company Profile

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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