Analysts Set Veritex Holdings, Inc. (NASDAQ:VBTX) Price Target at $27.50

Veritex Holdings, Inc. (NASDAQ:VBTX) has been assigned an average recommendation of “Buy” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $28.00.

Several equities research analysts have weighed in on VBTX shares. DA Davidson restated a “buy” rating and issued a $29.00 price objective on shares of Veritex in a research report on Wednesday, August 28th. Stephens upped their price objective on Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report 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 research report on Thursday, July 25th. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, Raymond James raised Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a report on Tuesday.

Institutional Trading of Veritex

Hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new stake in shares of Veritex during the second quarter worth $25,000. Fidelis Capital Partners LLC bought a new stake in shares of Veritex in the first quarter valued at about $29,000. Cape Investment Advisory Inc. acquired a new position in shares of Veritex during the fourth quarter worth about $52,000. CWM LLC grew its holdings in shares of Veritex by 1,302.9% during the second quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock worth $70,000 after buying an additional 3,101 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Veritex in the 4th quarter valued at approximately $76,000. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Stock Performance

Shares of NASDAQ:VBTX opened at $26.48 on Tuesday. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 15.40 and a beta of 1.37. The business’s fifty day moving average price is $23.84 and its two-hundred day moving average price is $21.45. Veritex has a fifty-two week low of $15.93 and a fifty-two week high of $26.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). Veritex had a net margin of 11.52% and a return on equity of 7.97%. The firm had revenue of $106.81 million for the quarter, compared to the consensus estimate of $108.39 million. During the same period in the prior year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. As a group, analysts predict that Veritex will post 2.14 EPS for the current fiscal year.

Veritex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Friday, August 9th. Veritex’s dividend payout ratio is currently 46.51%.

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.