Veritex Holdings, Inc. (NASDAQ:VBTX) Given Average Rating of “Moderate Buy” by Analysts

Veritex Holdings, Inc. (NASDAQ:VBTX) has received an average recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $29.40.

A number of brokerages recently weighed in on VBTX. Piper Sandler upped their price target on shares of Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Raymond James raised Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research report on Tuesday, September 17th. DA Davidson raised their target price on Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods cut Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th.

Veritex Stock Performance

NASDAQ VBTX opened at $27.16 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. Veritex has a 1-year low of $18.08 and a 1-year high of $31.62. The firm has a market capitalization of $1.48 billion, a P/E ratio of 17.41 and a beta of 1.38. The business’s 50-day simple moving average is $28.89 and its 200-day simple moving average is $25.55.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $110.22 million. During the same period in the previous year, the company posted $0.60 earnings per share. Veritex’s revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that Veritex will post 2.17 EPS for the current year.

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.95%. Veritex’s dividend payout ratio (DPR) is presently 51.28%.

Insider Buying and Selling at Veritex

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

Hedge Funds Weigh In On Veritex

Several large investors have recently added to or reduced their stakes in VBTX. Louisiana State Employees Retirement System increased its stake in Veritex by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the financial services provider’s stock valued at $578,000 after purchasing an additional 500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Veritex by 60.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,831 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 4,099 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Veritex in the second quarter valued at approximately $460,000. Stieven Capital Advisors L.P. grew its holdings in shares of Veritex by 2.2% during the second quarter. Stieven Capital Advisors L.P. now owns 404,065 shares of the financial services provider’s stock valued at $8,522,000 after purchasing an additional 8,600 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Veritex by 1.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,968,608 shares of the financial services provider’s stock worth $41,518,000 after purchasing an additional 37,617 shares during the period. 88.31% of the stock is currently 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.