Is Buying Veritex Holdings Inc (VBTX) Here a Winning Strategy? The Stock Formed Descending Triangle

July 17, 2017 - By Stephen Andrade

The stock of Veritex Holdings Inc (VBTX) formed a descending triangle with $28.05 target or 5.00 % above today’s $26.71 share price. The 7 months triangle pattern indicates low risk for the $402.11M company. If the $28.05 price target is reached, the company will be worth $20.11 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 0.04% or $0.01 on July 17, reaching $26.71. About 22,155 shares traded. Veritex Holdings Inc (NASDAQ:VBTX) has risen 59.75% since July 17, 2016 and is uptrending. It has outperformed by 43.05% the S&P500.

Investors wait Veritex Holdings Inc (NASDAQ:VBTX) to report on July, 25. its quarterly earnings Wall Street analysts expect $0.20 earnings per share, down $0.09 or 31.03 % from last year’s $0.29 same quarter earnings. This translates into $3.01M profit for VBTX giving the stock a 33.39 P/E. This is assuming the current $0.20 EPS is accurate. Veritex Holdings Inc’s Wall Street analysts see 0.00 % EPS growth, taking into account the $0.20 EPS reproted in the previous quarter,

Veritex Holdings Inc (NASDAQ:VBTX) Ratings Coverage

Among 2 analysts covering Veritex Holdings (NASDAQ:VBTX), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Veritex Holdings had 2 analyst reports since October 28, 2015 according to SRatingsIntel. Stephens maintained Veritex Holdings Inc (NASDAQ:VBTX) on Wednesday, October 28 with “Overweight” rating.

More notable recent Veritex Holdings Inc (NASDAQ:VBTX) news were published by: Nasdaq.com which released: “Veritex Holdings, Inc. Receives Regulatory Approval for Sovereign Bancshares …” on July 07, 2017, also Globenewswire.com with their article: “Veritex Holdings, Inc. Completes Acquisition of IBT Bancorp, Inc.” published on July 01, 2015, Globenewswire.com published: “Veritex Holdings, Inc. Announces Agreement to Acquire IBT Bancorp, Inc.” on March 09, 2015. More interesting news about Veritex Holdings Inc (NASDAQ:VBTX) were released by: Marketwatch.com and their article: “Veritex Holdings loses a quarter of its market cap after merger announcement” published on December 15, 2016 as well as Marketwatch.com‘s news article titled: “26.8244” with publication date: October 09, 2014.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.