Veritex Holdings, Inc. (NASDAQ:VBTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “Veritex Holdings, Inc. is a bank holding company. The Bank, through its wholly owned subsidiary, Veritex Community Bank conducts its banking activities. Veritex Community Bank provides various commercial banking services to individual and corporate customers. The company offers a range of deposit accounts, loans and a range of online banking solutions. It offers debit cards, night depository services, direct deposits, cashier’s checks, and letters of credit; cash management deposit products, as well as treasury management services. Veritex Holdings, Inc. is headquartered in Dallas, Texas. “

Several other research firms have also recently weighed in on VBTX. Stephens set a $32.00 price objective on Veritex Holdings and gave the company a “buy” rating in a research report on Tuesday, August 8th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $29.00 price objective on shares of Veritex Holdings in a research report on Friday, July 14th. Finally, BidaskClub cut Veritex Holdings from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Veritex Holdings has a consensus rating of “Hold” and an average target price of $31.83.

Veritex Holdings (NASDAQ VBTX) traded down 0.40% on Thursday, reaching $27.19. The company had a trading volume of 130,764 shares. Veritex Holdings has a one year low of $17.12 and a one year high of $29.43. The firm has a market capitalization of $413.67 million, a price-to-earnings ratio of 27.60 and a beta of 1.66. The company’s 50 day moving average is $25.98 and its 200-day moving average is $26.68.

Veritex Holdings (NASDAQ:VBTX) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The business had revenue of $14.14 million for the quarter, compared to analysts’ expectations of $16.40 million. Veritex Holdings had a return on equity of 6.09% and a net margin of 22.61%. On average, equities research analysts expect that Veritex Holdings will post $1.06 earnings per share for the current fiscal year.

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In other news, insider Ned N. Fleming III sold 66,997 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $26.90, for a total value of $1,802,219.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Clayton Riebe purchased 1,950 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was bought at an average cost of $25.19 per share, for a total transaction of $49,120.50. Following the completion of the transaction, the insider now owns 4,686 shares in the company, valued at $118,040.34. The disclosure for this purchase can be found here. Over the last three months, insiders sold 419,800 shares of company stock worth $11,059,556. Insiders own 9.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of VBTX. Kennedy Capital Management Inc. boosted its position in shares of Veritex Holdings by 76.6% in the 2nd quarter. Kennedy Capital Management Inc. now owns 331,285 shares of the financial services provider’s stock worth $8,723,000 after purchasing an additional 143,718 shares in the last quarter. Banc Funds Co. LLC boosted its position in shares of Veritex Holdings by 21.6% in the 2nd quarter. Banc Funds Co. LLC now owns 596,442 shares of the financial services provider’s stock worth $15,704,000 after purchasing an additional 106,000 shares in the last quarter. Jacobs Asset Management LLC boosted its position in shares of Veritex Holdings by 36.4% in the 2nd quarter. Jacobs Asset Management LLC now owns 306,989 shares of the financial services provider’s stock worth $8,083,000 after purchasing an additional 81,989 shares in the last quarter. State Street Corp boosted its position in shares of Veritex Holdings by 41.3% in the 2nd quarter. State Street Corp now owns 248,839 shares of the financial services provider’s stock worth $6,550,000 after purchasing an additional 72,729 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Veritex Holdings by 53.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 198,487 shares of the financial services provider’s stock worth $5,226,000 after purchasing an additional 69,427 shares in the last quarter. 52.17% of the stock is currently owned by hedge funds and other institutional investors.

Veritex Holdings 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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