Veritex (NASDAQ:VBTX) Shares Gap Up to $24.91

Veritex Holdings, Inc. (NASDAQ:VBTX) gapped up prior to trading on Tuesday . The stock had previously closed at $24.91, but opened at $25.62. Veritex shares last traded at $25.43, with a volume of 44,688 shares changing hands.

Analyst Ratings Changes

VBTX has been the subject of a number of recent research reports. Stephens boosted their price objective on shares of Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Piper Sandler upped their target price on Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. DA Davidson reissued a “buy” rating and issued a $29.00 price target on shares of Veritex in a report on Wednesday, August 28th. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research report on Tuesday. Finally, StockNews.com raised Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Veritex Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a fifty day moving average price of $23.75 and a two-hundred day moving average price of $21.42. The company has a market cap of $1.40 billion, a P/E ratio of 14.92 and a beta of 1.37.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The business had revenue of $106.81 million for the quarter, compared to analyst estimates of $108.39 million. Veritex had a return on equity of 7.97% and a net margin of 11.52%. The company’s revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. On average, equities analysts forecast that Veritex Holdings, Inc. will post 2.14 earnings per share for the current fiscal year.

Veritex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.20 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.12%. Veritex’s dividend payout ratio is presently 46.51%.

Institutional Trading of Veritex

A number of hedge funds and other institutional investors have recently made changes to their positions in VBTX. Point72 DIFC Ltd increased its stake in shares of Veritex by 16.5% during the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 816 shares during the period. Dana Investment Advisors Inc. boosted its stake in Veritex by 27.8% during the 2nd quarter. Dana Investment Advisors Inc. now owns 264,840 shares of the financial services provider’s stock valued at $5,585,000 after purchasing an additional 57,540 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Veritex during the 2nd quarter valued at $234,000. The Manufacturers Life Insurance Company increased its position in shares of Veritex by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,684 shares of the financial services provider’s stock valued at $563,000 after purchasing an additional 1,605 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Veritex by 56.2% in the 2nd quarter. Millennium Management LLC now owns 292,499 shares of the financial services provider’s stock worth $6,169,000 after buying an additional 105,261 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors.

Veritex Company Profile

Veritex Holdings, Inc operates as the bank holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company accepts deposit products include demand, savings, money market, and time accounts. Its loan products include commercial real estate and general commercial, mortgage warehouse loans, residential real estate, construction and land, farmland, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.