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

Veritex Holdings, Inc. (NASDAQ:VBTX) has received a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. Two 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 1-year price target among brokers that have issued ratings on the stock in the last year is $29.40.

VBTX has been the subject of a number of research analyst reports. Stephens increased their target price on Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. DA Davidson increased their price objective on Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Piper Sandler raised their price objective on Veritex from $27.00 to $30.00 and gave the stock an “overweight” 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 target price on the stock in a report on Tuesday, September 17th. Finally, StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th.

Insider Activity at Veritex

In related news, CEO C Malcolm Holland III sold 12,777 shares of the firm’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 transaction, the chief executive officer now owns 224,132 shares of the company’s stock, valued at approximately $6,206,215.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Veritex

Several hedge funds have recently bought and sold shares of VBTX. BNP Paribas Financial Markets boosted its stake in shares of Veritex by 38.7% during the 1st quarter. BNP Paribas Financial Markets now owns 53,362 shares of the financial services provider’s stock worth $1,093,000 after acquiring an additional 14,884 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in Veritex during the first quarter worth approximately $332,000. Fidelis Capital Partners LLC acquired a new position in Veritex during the first quarter valued at approximately $29,000. Texas Permanent School Fund Corp grew its holdings in Veritex by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 47,556 shares of the financial services provider’s stock valued at $974,000 after purchasing an additional 650 shares during the last quarter. Finally, Quantbot Technologies LP raised its position in shares of Veritex by 1,599.8% in the first quarter. Quantbot Technologies LP now owns 39,232 shares of the financial services provider’s stock valued at $804,000 after purchasing an additional 36,924 shares during the period. 88.31% of the stock is owned by institutional investors and hedge funds.

Veritex Price Performance

NASDAQ VBTX opened at $29.52 on Wednesday. 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 has a 1 year low of $17.43 and a 1 year high of $30.64. The company has a market cap of $1.61 billion, a PE ratio of 18.92 and a beta of 1.36. The stock’s 50-day moving average price is $26.14 and its two-hundred day moving average price is $23.21.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) 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 business had revenue of $113.17 million for the quarter, compared to analyst estimates of $110.22 million. During the same quarter in the previous year, the business earned $0.60 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, analysts predict that Veritex will post 2.17 EPS for the current year.

Veritex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.71%. Veritex’s dividend payout ratio is 51.28%.

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.