Veritex Holdings, Inc. (NASDAQ:VBTX) Receives $29.40 Average Price Target from Analysts

Shares of Veritex Holdings, Inc. (NASDAQ:VBTX) have been assigned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $29.40.

VBTX has been the topic of several recent analyst reports. Stephens boosted their target price on shares of Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Raymond James upgraded shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price on the stock in a report on Tuesday, September 17th. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods downgraded shares of Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th. Finally, DA Davidson boosted 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.

Insider Buying and Selling

In related news, CEO C Malcolm Holland III sold 12,777 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $27.69, for a total transaction of $353,795.13. Following the sale, the chief executive officer now directly owns 224,132 shares of the company’s stock, valued at $6,206,215.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO C Malcolm Holland III sold 12,777 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $27.69, for a total transaction of $353,795.13. Following the sale, the chief executive officer now directly owns 224,132 shares of the company’s stock, valued at $6,206,215.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Sughrue sold 16,820 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.25, for a total transaction of $508,805.00. Following the sale, the director now directly owns 62,643 shares in the company, valued at approximately $1,894,950.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Veritex

A number of large investors have recently modified their holdings of the company. Sippican Capital Advisors increased its position in shares of Veritex by 0.4% in the 3rd quarter. Sippican Capital Advisors now owns 99,230 shares of the financial services provider’s stock valued at $2,612,000 after purchasing an additional 400 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Veritex by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the financial services provider’s stock valued at $578,000 after buying an additional 500 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of Veritex by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 47,556 shares of the financial services provider’s stock valued at $974,000 after buying an additional 650 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Veritex by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 10,622 shares of the financial services provider’s stock valued at $218,000 after buying an additional 728 shares in the last quarter. Finally, Point72 DIFC Ltd boosted its holdings in shares of Veritex by 16.5% in the 2nd quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock valued at $122,000 after buying an additional 816 shares in the last quarter. 88.31% of the stock is owned by hedge funds and other institutional investors.

Veritex Stock Performance

VBTX opened at $30.34 on Wednesday. The firm has a market capitalization of $1.65 billion, a PE ratio of 19.45 and a beta of 1.36. Veritex has a twelve month low of $17.43 and a twelve month high of $30.85. The firm’s 50-day moving average price is $26.25 and its 200 day moving average price is $23.30. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

Veritex (NASDAQ:VBTX) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share 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 7.79%. Veritex’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 EPS. As a group, sell-side analysts expect that Veritex will post 2.17 EPS for the current fiscal year.

Veritex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Friday, November 8th. Veritex’s payout ratio is currently 51.28%.

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.