DA Davidson Reiterates “Buy” Rating for Veritex (NASDAQ:VBTX)

Veritex (NASDAQ:VBTX)‘s stock had its “buy” rating reissued by investment analysts at DA Davidson in a research note issued to investors on Monday,Benzinga reports. They currently have a $34.00 target price on the financial services provider’s stock. DA Davidson’s target price indicates a potential upside of 39.12% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Raymond James cut their target price on shares of Veritex from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research note on Thursday, January 30th. Hovde Group upgraded shares of Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 target price for the company in a research report on Thursday, January 30th. Finally, Stephens lowered their price target on shares of Veritex from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Veritex currently has a consensus rating of “Moderate Buy” and an average target price of $31.50.

Veritex Stock Performance

VBTX traded down $0.01 during trading on Monday, reaching $24.44. 20,978 shares of the company’s stock were exchanged, compared to its average volume of 354,825. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.94. The company’s fifty day simple moving average is $26.00 and its 200-day simple moving average is $26.91. Veritex has a 1 year low of $18.41 and a 1 year high of $31.62. The stock has a market capitalization of $1.33 billion, a P/E ratio of 12.52 and a beta of 1.36.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Veritex had a return on equity of 7.59% and a net margin of 13.44%. As a group, research analysts predict that Veritex will post 2.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Atria Investments Inc purchased a new stake in shares of Veritex during the 3rd quarter worth approximately $220,000. Empowered Funds LLC lifted its position in Veritex by 5.3% in the third quarter. Empowered Funds LLC now owns 145,638 shares of the financial services provider’s stock valued at $3,833,000 after acquiring an additional 7,370 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in shares of Veritex during the third quarter worth about $215,000. LMR Partners LLP acquired a new stake in shares of Veritex during the third quarter worth about $276,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Veritex by 319.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,885 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 3,720 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Company Profile

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.