Veritex (NASDAQ:VBTX) Upgraded at Hovde Group

Hovde Group upgraded shares of Veritex (NASDAQ:VBTX) from a market perform rating to an outperform rating in a research report report published on Thursday, Marketbeat.com reports. The brokerage currently has $31.50 price objective on the financial services provider’s stock.

A number of other equities analysts have also commented on VBTX. StockNews.com raised Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. DA Davidson increased their price target on shares of Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Piper Sandler upped their price objective 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 research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.50.

Veritex Price Performance

Shares of VBTX stock opened at $26.80 on Thursday. Veritex has a one year low of $18.08 and a one year high of $31.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s fifty day simple moving average is $27.85 and its 200 day simple moving average is $26.36. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 13.74 and a beta of 1.38.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.54 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 7.63%. On average, analysts expect that Veritex will post 2.24 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.20 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.99%. Veritex’s payout ratio is presently 41.03%.

Insider Buying and Selling at Veritex

In other news, Director John Sughrue sold 16,820 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.25, for a total transaction of $508,805.00. Following the completion of the transaction, the director now directly owns 62,643 shares in the company, valued at approximately $1,894,950.75. The trade was a 21.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Veritex

Hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in Veritex by 0.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,978,219 shares of the financial services provider’s stock worth $52,067,000 after buying an additional 9,611 shares during the period. Geode Capital Management LLC grew its position in shares of Veritex by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider’s stock valued at $34,064,000 after acquiring an additional 18,185 shares during the period. Assenagon Asset Management S.A. increased its position in Veritex by 67.6% during the third quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider’s stock worth $21,248,000 after buying an additional 325,569 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Veritex by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 732,865 shares of the financial services provider’s stock worth $19,289,000 after acquiring an additional 12,286 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Veritex by 13.0% in the third quarter. Wellington Management Group LLP now owns 680,766 shares of the financial services provider’s stock valued at $17,918,000 after purchasing an additional 78,082 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Company Profile

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.