Veritex Holdings, Inc. (NASDAQ:VBTX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Veritex Holdings, Inc. (NASDAQ:VBTX) have received a consensus recommendation of “Moderate Buy” from the four analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $27.50.

Several analysts have recently issued reports on the stock. 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 research report on Tuesday. Piper Sandler raised their price objective on Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Stephens raised their price target on Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Finally, DA Davidson reiterated a “buy” rating and set a $29.00 price objective on shares of Veritex in a research report on Wednesday, August 28th.

Institutional Trading of Veritex

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Veritex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,795,336 shares of the financial services provider’s stock valued at $77,766,000 after buying an additional 23,222 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Veritex by 14.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock worth $51,566,000 after purchasing an additional 299,562 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Veritex by 1.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,968,608 shares of the financial services provider’s stock worth $41,518,000 after purchasing an additional 37,617 shares during the period. 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 valued at $34,193,000 after purchasing an additional 235,154 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Veritex by 23.2% in the 4th quarter. First Trust Advisors LP now owns 1,303,041 shares of the financial services provider’s stock worth $30,322,000 after buying an additional 245,133 shares during the period. 88.31% of the stock is currently owned by institutional investors.

Veritex Trading Up 0.4 %

Shares of VBTX stock opened at $24.91 on Tuesday. The stock’s 50-day moving average price is $23.56 and its 200-day moving average price is $21.34. Veritex has a 12-month low of $15.93 and a 12-month high of $25.84. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 14.48 and a beta of 1.37. 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 earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The firm had revenue of $106.81 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. Equities research analysts predict that Veritex will post 2.14 EPS for the current fiscal year.

Veritex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors 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 3.21%. The ex-dividend date of this dividend was Friday, August 9th. Veritex’s payout ratio is currently 46.51%.

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.