Veritex Holdings, Inc. (NASDAQ:VBTX) Receives $29.40 Consensus Target Price from Analysts

Shares of Veritex Holdings, Inc. (NASDAQ:VBTX) have been given an average recommendation of “Moderate Buy” by the five brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $29.40.

Several brokerages recently issued reports on VBTX. Keefe, Bruyette & Woods cut Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th. Piper Sandler boosted their target price on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Raymond James raised Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a report on Tuesday, September 17th. DA Davidson boosted their price objective on shares of Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Stephens upped their price objective on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th.

Veritex Price Performance

VBTX stock opened at $29.52 on Wednesday. The business has a 50 day simple moving average of $26.14 and a 200-day simple moving average of $23.19. The company has a market capitalization of $1.61 billion, a P/E ratio of 18.92 and a beta of 1.36. Veritex has a twelve month low of $17.43 and a twelve month high of $30.64. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The firm had revenue of $113.17 million during the quarter, compared to analysts’ expectations of $110.22 million. During the same quarter in the prior year, the business earned $0.60 EPS. Veritex’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts anticipate that Veritex will post 2.17 EPS for the current year.

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.71%. The ex-dividend date is Friday, November 8th. Veritex’s payout ratio is 51.28%.

Insider Buying and Selling at Veritex

In other Veritex news, CEO C Malcolm Holland III sold 12,777 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $27.69, for a total transaction of $353,795.13. Following the transaction, the chief executive officer now directly owns 224,132 shares in the company, valued at approximately $6,206,215.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.60% of the stock is owned by corporate insiders.

Institutional Trading of Veritex

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Veritex by 0.6% in the first quarter. Vanguard Group Inc. now owns 3,795,336 shares of the financial services provider’s stock valued at $77,766,000 after purchasing an additional 23,222 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Veritex by 14.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock valued at $51,566,000 after buying an additional 299,562 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Veritex by 0.5% in the third quarter. Victory Capital Management Inc. now owns 1,978,219 shares of the financial services provider’s stock worth $52,067,000 after acquiring an additional 9,611 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Veritex by 16.4% in the first quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock valued at $34,193,000 after acquiring an additional 235,154 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Veritex by 11.7% during the second quarter. American Century Companies Inc. now owns 827,202 shares of the financial services provider’s stock valued at $17,446,000 after acquiring an additional 86,327 shares during the last quarter. 88.31% of the stock is currently owned by hedge funds and other 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.