DA Davidson Boosts Veritex (NASDAQ:VBTX) Price Target to $33.00

Veritex (NASDAQ:VBTX) had its price objective increased by equities research analysts at DA Davidson from $30.00 to $33.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s target price would suggest a potential upside of 20.35% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods lowered shares of Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday. Raymond James raised shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research report on Tuesday, September 17th. Piper Sandler boosted their price target on shares of Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday. Stephens boosted their price target on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, StockNews.com cut shares of Veritex from a “hold” rating to a “sell” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Veritex Price Performance

Shares of NASDAQ VBTX traded down $0.46 during trading hours on Thursday, hitting $27.42. 60,329 shares of the stock were exchanged, compared to its average volume of 402,446. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $1.49 billion, a PE ratio of 17.56 and a beta of 1.37. The company’s fifty day simple moving average is $25.18 and its two-hundred day simple moving average is $22.54. Veritex has a 1-year low of $15.93 and a 1-year high of $28.46.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.88%. The business had revenue of $113.17 million for the quarter, compared to analyst estimates of $110.22 million. During the same quarter last year, the business posted $0.60 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts predict that Veritex will post 2.13 EPS for the current year.

Institutional Investors Weigh In On Veritex

Institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. purchased a new stake in shares of Veritex in the 2nd quarter valued at $25,000. Fidelis Capital Partners LLC purchased a new stake in Veritex during the 1st quarter valued at $29,000. CWM LLC boosted its position in Veritex by 1,302.9% during the 2nd quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock valued at $70,000 after buying an additional 3,101 shares during the period. Point72 DIFC Ltd boosted its position in Veritex by 16.5% during the 2nd quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock valued at $122,000 after buying an additional 816 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Veritex during the 1st quarter valued at $177,000. Hedge funds and other institutional investors own 88.31% of the company’s stock.

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.