Could Veritex Holdings, Inc. (VBTX) Change Direction After Reaching 52-Week High?

March 17, 2018 - By Michael Pereira

The stock of Veritex Holdings, Inc. (NASDAQ:VBTX) hit a new 52-week high and has $30.36 target or 4.00 % above today’s $29.19 share price. The 6 months bullish chart indicates low risk for the $703.77 million company. The 1-year high was reported on Mar, 17 by If the $30.36 price target is reached, the company will be worth $28.15 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.21% or $0.06 during the last trading session, reaching $29.19. About 101,851 shares traded. Veritex Holdings, Inc. (NASDAQ:VBTX) has risen 59.75% since March 17, 2017 and is uptrending. It has outperformed by 43.05% the S&P500.

Analysts await Veritex Holdings, Inc. (NASDAQ:VBTX) to report earnings on April, 23. They expect $0.42 EPS, up 110.00 % or $0.22 from last year’s $0.2 per share. VBTX’s profit will be $10.13M for 17.38 P/E if the $0.42 EPS becomes a reality. After $0.23 actual EPS reported by Veritex Holdings, Inc. for the previous quarter, Wall Street now forecasts 82.61 % EPS growth.

Veritex Holdings, Inc. (NASDAQ:VBTX) Ratings Coverage

Among 6 analysts covering Veritex Holdings (NASDAQ:VBTX), 5 have Buy rating, 0 Sell and 1 Hold. Therefore 83% are positive. Veritex Holdings had 8 analyst reports since October 28, 2015 according to SRatingsIntel. The firm has “Overweight” rating given on Wednesday, October 28 by Stephens. As per Thursday, July 20, the company rating was maintained by Stephens. Keefe Bruyette & Woods initiated the shares of VBTX in report on Tuesday, January 16 with “Buy” rating. Piper Jaffray maintained the stock with “Hold” rating in Tuesday, October 24 report. The firm has “Overweight” rating by PiperJaffray given on Thursday, February 1.

Veritex Holdings, Inc. operates as the holding firm for Veritex Community Bank that provides various commercial banking services and products to small and medium-sized businesses, and professionals. The company has market cap of $703.77 million. The company's deposit products include checking, demand, savings, money market, and time accounts, as well as commercial deposit and financial institution money market accounts. It has a 36.49 P/E ratio. The Company’s loan portfolio consists of commercial real estate and general commercial loans, residential real estate loans, and consumer loans.

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