Veritex (VBTX) Downgraded by BidaskClub to Strong Sell

Veritex (NASDAQ:VBTX) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday.

VBTX has been the subject of a number of other research reports. Zacks Investment Research raised shares of Veritex from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Keefe, Bruyette & Woods began coverage on shares of Veritex in a research note on Tuesday, January 16th. They issued an “outperform” rating and a $33.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $32.30.

Shares of Veritex (NASDAQ:VBTX) traded down $0.25 during trading hours on Friday, reaching $28.21. 82,997 shares of the company were exchanged, compared to its average volume of 117,166. The company has a market capitalization of $633.31, a PE ratio of 29.39, a price-to-earnings-growth ratio of 1.67 and a beta of 1.62. Veritex has a 1 year low of $23.84 and a 1 year high of $29.43. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.12.

In related news, insider Ned N. Fleming III sold 12,370 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $27.21, for a total value of $336,587.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ned N. Fleming III sold 92,711 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $26.00, for a total transaction of $2,410,486.00. The disclosure for this sale can be found here. Insiders sold a total of 122,370 shares of company stock valued at $3,198,144 in the last ninety days. Company insiders own 6.90% of the company’s stock.

Large investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in shares of Veritex during the 3rd quarter valued at $145,000. Nationwide Fund Advisors boosted its stake in shares of Veritex by 31.8% during the 2nd quarter. Nationwide Fund Advisors now owns 8,819 shares of the financial services provider’s stock valued at $232,000 after buying an additional 2,128 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in shares of Veritex during the 3rd quarter valued at $236,000. Principal Financial Group Inc. acquired a new stake in shares of Veritex during the 2nd quarter valued at $259,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Veritex by 52.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,518 shares of the financial services provider’s stock valued at $329,000 after buying an additional 4,304 shares during the period. 61.82% of the stock is owned by institutional investors.

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About Veritex

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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