Analysts Set Veritex Holdings, Inc. (NASDAQ:VBTX) Price Target at $27.50

Veritex Holdings, Inc. (NASDAQ:VBTX) has been given a consensus rating of “Buy” by the five research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $28.00.

A number of analysts recently issued reports on VBTX shares. Raymond James raised 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. Piper Sandler increased their price objective on Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Stephens lifted their target price on shares of Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Veritex in a research note on Wednesday, August 28th.

Veritex Stock Up 3.2 %

NASDAQ:VBTX opened at $26.48 on Tuesday. The business’s fifty day moving average price is $23.84 and its 200 day moving average price is $21.45. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 15.40 and a beta of 1.37. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Veritex has a 1-year low of $15.93 and a 1-year high of $26.72.

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

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.80 annualized dividend and a dividend yield of 3.02%. Veritex’s dividend payout ratio is presently 46.51%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System increased its holdings in shares of Veritex by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the financial services provider’s stock worth $578,000 after purchasing an additional 500 shares during the period. Texas Permanent School Fund Corp lifted its position in Veritex by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 47,556 shares of the financial services provider’s stock worth $974,000 after purchasing an additional 650 shares during the period. ProShare Advisors LLC boosted its stake in Veritex by 7.4% during the first quarter. ProShare Advisors LLC now owns 10,622 shares of the financial services provider’s stock worth $218,000 after buying an additional 728 shares in the last quarter. Point72 DIFC Ltd increased its holdings in Veritex by 16.5% in the 2nd quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock valued at $122,000 after buying an additional 816 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Veritex in the 2nd quarter valued at $25,000. 88.31% of the stock is owned by institutional investors.

About Veritex

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.