Veritex (NASDAQ:VBTX) PT Raised to $30.00 at Piper Sandler

Veritex (NASDAQ:VBTX) had its price target upped by Piper Sandler from $27.00 to $30.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Other research analysts have also issued reports about the company. Keefe, Bruyette & Woods lowered Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday. Stephens boosted their target price on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. StockNews.com cut shares of Veritex from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Raymond James upgraded shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, September 17th. Finally, DA Davidson restated a “buy” rating and issued a $29.00 target price on shares of Veritex in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Veritex Trading Down 1.4 %

NASDAQ VBTX opened at $27.08 on Thursday. The company’s 50-day simple moving average is $25.36 and its two-hundred day simple moving average is $22.65. Veritex has a one year low of $16.84 and a one year high of $28.46. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 15.74 and a beta of 1.37. 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, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.04. The company had revenue of $113.17 million for the quarter, compared to analyst estimates of $110.22 million. Veritex had a net margin of 11.11% and a return on equity of 7.88%. Veritex’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.60 earnings per share. Equities analysts forecast that Veritex will post 2.13 EPS for the current fiscal year.

Veritex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Friday, November 8th. Veritex’s dividend payout ratio is presently 46.51%.

Hedge Funds Weigh In On Veritex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kennedy Capital Management LLC purchased a new stake in Veritex during the 1st quarter valued at about $9,139,000. F M Investments LLC purchased a new stake in Veritex in the second quarter valued at approximately $8,483,000. Assenagon Asset Management S.A. boosted its position in Veritex by 67.6% in the third quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider’s stock valued at $21,248,000 after buying an additional 325,569 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Veritex by 14.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock worth $51,566,000 after buying an additional 299,562 shares during the period. Finally, Westwood Holdings Group Inc. raised its position in Veritex by 16.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock worth $34,193,000 after buying an additional 235,154 shares during the last quarter. 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.