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.
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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