Veritex Holdings, Inc. (NASDAQ:VBTX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Veritex Holdings, Inc. (NASDAQ:VBTX) have received a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the firm, Marketbeat reports. Two research 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 objective among brokers that have issued ratings on the stock in the last year is $29.40.

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

Veritex Trading Down 1.0 %

NASDAQ VBTX opened at $27.90 on Thursday. Veritex has a one year low of $18.08 and a one year high of $31.62. The firm has a market cap of $1.52 billion, a PE ratio of 17.88 and a beta of 1.38. The firm’s fifty day moving average is $28.90 and its two-hundred day moving average is $25.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.59 EPS 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 firm had revenue of $113.17 million during the quarter, compared to the consensus estimate of $110.22 million. During the same period in the prior year, the business earned $0.60 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Analysts expect that Veritex will post 2.17 earnings per share for the current year.

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.20 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.87%. Veritex’s dividend payout ratio (DPR) is 51.28%.

Insider Activity at Veritex

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

Institutional Trading of Veritex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VBTX. Meeder Asset Management Inc. acquired a new stake in shares of Veritex in the second quarter worth approximately $25,000. Systematic Financial Management LP purchased a new position in Veritex during the third quarter worth approximately $98,000. Point72 DIFC Ltd boosted its holdings in shares of Veritex by 16.5% in the 2nd quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 816 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Veritex by 295.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,438 shares of the financial services provider’s stock valued at $196,000 after buying an additional 5,559 shares during the period. Finally, Public Employees Retirement Association of Colorado purchased a new stake in shares of Veritex during the 2nd quarter valued at $208,000. Hedge funds and other 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.