Veritex Holdings, Inc. (NASDAQ:VBTX) Given Average Recommendation of “Buy” by Brokerages

Veritex Holdings, Inc. (NASDAQ:VBTX) has received an average recommendation of “Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $28.00.

VBTX has been the topic of a number of recent analyst reports. Piper Sandler lifted their price target on shares of Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. DA Davidson reissued a “buy” rating and set a $29.00 price target on shares of Veritex in a research report on Wednesday, August 28th. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, September 17th. Finally, Stephens increased their target price on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th.

Veritex Stock Performance

Veritex stock opened at $25.98 on Friday. The firm has a market capitalization of $1.41 billion, a P/E ratio of 16.24 and a beta of 1.37. The stock has a fifty day moving average price of $24.26 and a 200 day moving average price of $22.08. Veritex has a 52 week low of $15.93 and a 52 week high of $26.72. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 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 business had revenue of $106.81 million during the quarter, compared to analysts’ expectations of $108.39 million. During the same quarter last year, the firm earned $0.64 EPS. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. Equities research analysts anticipate that Veritex will post 2.13 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. Stockholders of record on Friday, August 9th were paid 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 dividend yield of 3.08%. Veritex’s dividend payout ratio (DPR) is currently 50.00%.

Institutional Trading of Veritex

A number of hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new stake in Veritex during the 2nd quarter valued at $25,000. Fidelis Capital Partners LLC purchased a new position in Veritex in the 1st quarter valued at about $29,000. CWM LLC grew its stake 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 valued at $70,000 after acquiring an additional 3,101 shares in the last quarter. Point72 DIFC Ltd increased its position in shares of Veritex by 16.5% during the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 816 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Veritex in the first quarter worth about $177,000. Hedge funds and other institutional investors own 88.31% of the company’s stock.

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.