Veritex (NASDAQ:VBTX) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday, September 20th.

Several other analysts also recently commented on VBTX. Zacks Investment Research downgraded Veritex from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Sandler O’Neill restated a “buy” rating and issued a $37.00 price target on shares of Veritex in a research note on Thursday, July 26th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $33.75.

Shares of Veritex stock traded down $0.79 during midday trading on Thursday, hitting $27.30. The company had a trading volume of 553,510 shares, compared to its average volume of 203,145. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $683.39 million, a P/E ratio of 28.74, a PEG ratio of 1.59 and a beta of 1.40. Veritex has a 52-week low of $25.26 and a 52-week high of $33.08.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. Veritex had a return on equity of 6.53% and a net margin of 23.09%. The company had revenue of $30.22 million for the quarter, compared to the consensus estimate of $29.60 million. As a group, equities analysts expect that Veritex will post 1.78 EPS for the current year.

In related news, CEO C Malcolm Holland III sold 3,750 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $30.60, for a total value of $114,750.00. Following the transaction, the chief executive officer now directly owns 92,252 shares of the company’s stock, valued at approximately $2,822,911.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.70% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Swiss National Bank raised its holdings in Veritex by 14.5% during the second quarter. Swiss National Bank now owns 33,100 shares of the financial services provider’s stock valued at $1,028,000 after acquiring an additional 4,200 shares during the period. Cullen Frost Bankers Inc. purchased a new position in shares of Veritex during the first quarter valued at about $18,684,000. Dimensional Fund Advisors LP grew its position in shares of Veritex by 36.5% during the second quarter. Dimensional Fund Advisors LP now owns 873,514 shares of the financial services provider’s stock valued at $27,140,000 after purchasing an additional 233,746 shares in the last quarter. Rhumbline Advisers grew its position in shares of Veritex by 59.5% during the second quarter. Rhumbline Advisers now owns 22,793 shares of the financial services provider’s stock valued at $708,000 after purchasing an additional 8,503 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of Veritex by 21.1% during the second quarter. First Trust Advisors LP now owns 34,134 shares of the financial services provider’s stock valued at $1,061,000 after purchasing an additional 5,944 shares in the last quarter. 73.26% of the stock is currently owned by institutional investors and hedge funds.

Veritex Company Profile

Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.

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