Brokerages Set Veritex Holdings, Inc. (NASDAQ:VBTX) Target Price at $29.40

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

A number of brokerages have recently commented on VBTX. Keefe, Bruyette & Woods cut shares of Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. Piper Sandler lifted their target price on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. DA Davidson lifted their price objective on shares of Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, 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 report on Tuesday, September 17th.

Insider Activity at Veritex

In other Veritex news, Director John Sughrue sold 16,820 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.25, for a total value of $508,805.00. Following the sale, the director now owns 62,643 shares of the company’s stock, valued at approximately $1,894,950.75. This represents a 21.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO C Malcolm Holland III sold 12,777 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $27.69, for a total value of $353,795.13. Following the completion of the transaction, the chief executive officer now owns 224,132 shares of the company’s stock, valued at approximately $6,206,215.08. This represents a 5.39 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.

Institutional Trading of Veritex

Several large investors have recently modified their holdings of VBTX. Sippican Capital Advisors increased its stake in Veritex by 0.4% in the third 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 increased its stake in shares of Veritex by 1.9% during 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 acquiring an additional 500 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Veritex by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 73,421 shares of the financial services provider’s stock worth $1,920,000 after acquiring an additional 701 shares during the period. Point72 DIFC Ltd boosted its position in shares of Veritex by 16.5% in 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, Meeder Asset Management Inc. purchased a new stake in Veritex in the second quarter valued at approximately $25,000. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Price Performance

Shares of VBTX opened at $27.37 on Thursday. The firm has a fifty day moving average price of $28.91 and a 200 day moving average price of $25.40. The stock has a market cap of $1.49 billion, a PE ratio of 17.54 and a beta of 1.38. Veritex has a 1-year low of $18.08 and a 1-year high of $31.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The firm had revenue of $113.17 million for the quarter, compared to the consensus estimate of $110.22 million. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. As a group, sell-side analysts anticipate that Veritex will post 2.17 EPS for the current year.

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.92%. Veritex’s dividend payout ratio (DPR) is presently 51.28%.

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.