Veritex (NASDAQ:VBTX) Price Target Raised to $26.00 at Piper Sandler

Veritex (NASDAQ:VBTX) had its price target increased by analysts at Piper Sandler from $25.00 to $26.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 25.06% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Stephens reaffirmed an “equal weight” rating and issued a $24.00 target price on shares of Veritex in a research report on Wednesday. StockNews.com downgraded Veritex from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods dropped their price target on Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $24.38.

Veritex Stock Up 0.1 %

Shares of NASDAQ:VBTX opened at $20.79 on Thursday. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 12.09 and a beta of 1.34. The firm’s 50 day moving average price is $19.87 and its 200 day moving average price is $20.28. Veritex has a fifty-two week low of $14.88 and a fifty-two week high of $24.46. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.22.

Veritex (NASDAQ:VBTX) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). The business had revenue of $191.25 million during the quarter, compared to analysts’ expectations of $109.70 million. Veritex had a net margin of 12.47% and a return on equity of 8.51%. During the same quarter in the previous year, the company posted $0.79 EPS. As a group, equities research analysts predict that Veritex will post 2.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Veritex

A number of large investors have recently added to or reduced their stakes in the business. Cape Investment Advisory Inc. purchased a new position in shares of Veritex during the 4th quarter worth approximately $52,000. GAMMA Investing LLC purchased a new position in Veritex in the 4th quarter valued at about $60,000. Fifth Third Bancorp boosted its stake in shares of Veritex by 1,319.3% during the 3rd quarter. Fifth Third Bancorp now owns 3,236 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 3,008 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Veritex during the fourth quarter worth about $76,000. Finally, TFO Wealth Partners LLC raised its position in shares of Veritex by 363,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 3,636 shares of the financial services provider’s stock valued at $85,000 after buying an additional 3,635 shares during the last quarter. 88.31% of the stock is owned by institutional investors and hedge funds.

About Veritex

Veritex Holdings, Inc operates as the bank holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company accepts deposit products include demand, savings, money market, and time accounts. Its loan products include commercial real estate and general commercial, mortgage warehouse loans, residential real estate, construction and land, farmland, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.