Veritex (NASDAQ:VBTX) Stock Crosses Above 50-Day Moving Average of $22.42

Veritex Holdings, Inc. (NASDAQ:VBTX) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $22.42 and traded as high as $24.27. Veritex shares last traded at $24.15, with a volume of 320,953 shares.

Analyst Ratings Changes

VBTX has been the topic of several research reports. Stephens raised their price target on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Piper Sandler boosted their target price on Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. DA Davidson increased their price target on Veritex from $27.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, StockNews.com raised Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Veritex has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

Veritex Stock Performance

The firm’s 50 day moving average price is $22.42 and its two-hundred day moving average price is $20.92. The firm has a market cap of $1.32 billion, a PE ratio of 14.04 and a beta of 1.38. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). Veritex had a return on equity of 7.97% and a net margin of 11.52%. The business had revenue of $106.81 million during the quarter, compared to analysts’ expectations of $108.39 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue was down 6.7% on a year-over-year basis. On average, research analysts forecast that Veritex Holdings, Inc. will post 2.14 earnings per share for the current year.

Veritex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.31%. Veritex’s payout ratio is currently 46.51%.

Institutional Investors Weigh In On Veritex

A number of institutional investors have recently made changes to their positions in VBTX. Meeder Asset Management Inc. acquired a new position in shares of Veritex in the 2nd quarter worth approximately $25,000. Fidelis Capital Partners LLC acquired a new stake in shares of Veritex in the first quarter valued at $29,000. Cape Investment Advisory Inc. acquired a new stake in shares of Veritex in the fourth quarter valued at $52,000. GAMMA Investing LLC purchased a new stake in shares of Veritex in the 4th quarter valued at $60,000. Finally, CWM LLC lifted its stake in Veritex by 1,302.9% during the 2nd quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 3,101 shares in 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.