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

Shares of Veritex Holdings, Inc. (NASDAQ:VBTX) have been assigned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $29.40.

A number of brokerages have recently issued reports on VBTX. Keefe, Bruyette & Woods downgraded shares of Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. DA Davidson lifted their target price on Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Raymond James upgraded 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. Piper Sandler boosted their price objective on shares of Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th.

Veritex Stock Down 1.6 %

Shares of VBTX opened at $27.37 on Thursday. Veritex has a 12-month low of $18.08 and a 12-month high of $31.62. The firm has a fifty day moving average price of $28.91 and a 200-day moving average price of $25.40. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $1.49 billion, a P/E ratio of 17.54 and a beta of 1.38.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The firm had revenue of $113.17 million for the quarter, compared to analyst estimates of $110.22 million. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. Equities research analysts expect that Veritex will post 2.17 earnings per share for the current year.

Veritex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Friday, November 8th. Veritex’s payout ratio is 51.28%.

Insider Activity at Veritex

In related news, CEO C Malcolm Holland III sold 12,777 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $27.69, for a total transaction of $353,795.13. Following the sale, the chief executive officer now directly owns 224,132 shares of the company’s stock, valued at $6,206,215.08. This represents a 5.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Sughrue sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.25, for a total transaction of $508,805.00. Following the completion of the transaction, the director now directly owns 62,643 shares of the company’s stock, valued at $1,894,950.75. This represents a 21.17 % decrease in their position. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by company insiders.

Institutional Trading of Veritex

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Veritex by 24.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 631,372 shares of the financial services provider’s stock valued at $16,618,000 after purchasing an additional 122,809 shares during the last quarter. Franklin Resources Inc. raised its stake in Veritex by 1.0% in the third quarter. Franklin Resources Inc. now owns 73,421 shares of the financial services provider’s stock valued at $1,920,000 after buying an additional 701 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Veritex by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider’s stock worth $34,064,000 after buying an additional 18,185 shares during the last quarter. Barclays PLC boosted its position in shares of Veritex by 63.8% during the 3rd quarter. Barclays PLC now owns 117,609 shares of the financial services provider’s stock worth $3,095,000 after acquiring an additional 45,787 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Veritex during the 3rd quarter worth about $404,000. 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.