Brokerages Set Veritex Holdings, Inc. (NASDAQ:VBTX) Target Price at $31.50

Shares of Veritex Holdings, Inc. (NASDAQ:VBTX) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given 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 $31.50.

A number of analysts have recently issued reports on VBTX shares. DA Davidson lowered their price objective on Veritex from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Hovde Group raised Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price target on the stock in a research note on Thursday, January 30th. Stephens decreased their price target on Veritex from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Finally, Raymond James reduced their price objective on Veritex from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a research note on Thursday, January 30th.

Veritex Stock Performance

Shares of NASDAQ VBTX opened at $23.85 on Tuesday. The company has a market cap of $1.30 billion, a P/E ratio of 12.23 and a beta of 1.36. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. Veritex has a 12 month low of $18.08 and a 12 month high of $31.62. The business’s 50 day moving average is $26.04 and its two-hundred day moving average is $26.88.

Veritex (NASDAQ:VBTX) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Veritex had a net margin of 13.44% and a return on equity of 7.59%. On average, equities analysts expect that Veritex will post 2.26 EPS for the current year.

Veritex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.20 per share. The ex-dividend date was Friday, February 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.35%. Veritex’s payout ratio is currently 41.03%.

Institutional Investors Weigh In On Veritex

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Veritex by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 3,874,917 shares of the financial services provider’s stock valued at $105,243,000 after purchasing an additional 39,746 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Veritex by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,803,752 shares of the financial services provider’s stock valued at $76,149,000 after purchasing an additional 125,189 shares during the last quarter. Victory Capital Management Inc. increased its holdings in 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 valued at $52,067,000 after purchasing an additional 9,611 shares during the last quarter. Geode Capital Management LLC increased its holdings in Veritex by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider’s stock valued at $34,064,000 after purchasing an additional 18,185 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in Veritex by 57.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider’s stock valued at $33,675,000 after purchasing an additional 454,015 shares during the last quarter. Institutional investors own 88.31% of the company’s stock.

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.