Veritex (NASDAQ:VBTX) Sets New 1-Year High at $26.69

Veritex Holdings, Inc. (NASDAQ:VBTX) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $26.69 and last traded at $26.31, with a volume of 169251 shares traded. The stock had previously closed at $25.64.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. 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. 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. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. 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. Finally, Stephens raised their price target on Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Veritex has an average rating of “Moderate Buy” and an average price target of $28.00.

Veritex Stock Performance

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 14.77 and a beta of 1.37. The stock’s fifty day moving average is $23.66 and its 200-day moving average is $21.39.

Veritex (NASDAQ:VBTX) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The business had revenue of $106.81 million during the quarter, compared to analyst estimates of $108.39 million. Veritex had a net margin of 11.52% and a return on equity of 7.97%. The firm’s revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, analysts forecast that Veritex Holdings, Inc. will post 2.14 EPS for the current year.

Veritex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Friday, August 9th. Veritex’s dividend payout ratio (DPR) is presently 46.51%.

Institutional Investors Weigh In On Veritex

Institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in shares of Veritex in the second quarter valued at approximately $25,000. Fidelis Capital Partners LLC bought a new position in shares of Veritex in the 1st quarter valued at about $29,000. Cape Investment Advisory Inc. acquired a new stake in shares of Veritex in the fourth quarter valued at about $52,000. CWM LLC raised its holdings in 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 acquiring an additional 3,101 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in Veritex during the fourth quarter valued at approximately $76,000. Institutional investors own 88.31% of the company’s stock.

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.