Analysts Set Veritex Holdings, Inc. (NASDAQ:VBTX) Target Price at $29.40

Shares of Veritex Holdings, Inc. (NASDAQ:VBTX) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $29.40.

Several research analysts have issued reports on VBTX shares. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. 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. 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. Piper Sandler lifted their price target on Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods lowered Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th.

Insider Transactions at Veritex

In other Veritex news, CEO C Malcolm Holland III sold 12,777 shares of the firm’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 owns 224,132 shares of the company’s stock, valued at approximately $6,206,215.08. This trade represents a 5.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Sughrue sold 16,820 shares of the firm’s stock in a transaction dated 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 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 disclosure for this sale can be found here. 4.60% of the stock is currently owned by company insiders.

Institutional Trading of Veritex

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Veritex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,795,336 shares of the financial services provider’s stock valued at $77,766,000 after acquiring an additional 23,222 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in Veritex during the 2nd quarter valued at approximately $566,000. Renaissance Technologies LLC acquired a new stake in Veritex during the 2nd quarter valued at approximately $730,000. AQR Capital Management LLC lifted its stake in Veritex by 66.5% during the 2nd quarter. AQR Capital Management LLC now owns 424,106 shares of the financial services provider’s stock valued at $8,944,000 after acquiring an additional 169,448 shares during the period. Finally, Raymond James & Associates acquired a new stake in Veritex during the 3rd quarter valued at approximately $3,971,000. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Price Performance

Shares of VBTX opened at $30.02 on Friday. Veritex has a 12-month low of $18.08 and a 12-month high of $31.62. The business has a 50-day simple moving average of $27.86 and a two-hundred day simple moving average of $24.37. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.64 billion, a PE ratio of 19.24 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 for the quarter, beating the consensus estimate of $0.55 by $0.04. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The company 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 firm posted $0.60 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts anticipate that Veritex will post 2.17 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.20 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.66%. Veritex’s dividend payout ratio (DPR) 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.