Veritex (NASDAQ:VBTX) Reaches New 12-Month High – Should You Buy?

Veritex Holdings, Inc. (NASDAQ:VBTX) shares reached a new 52-week high on Tuesday . The stock traded as high as $26.84 and last traded at $26.84, with a volume of 15861 shares. The stock had previously closed at $26.15.

Analyst Ratings Changes

A number of brokerages recently weighed in on VBTX. Raymond James raised shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research note on Tuesday, September 17th. Stephens lifted their price objective on Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. DA Davidson restated a “buy” rating and set a $29.00 target price on shares of Veritex in a research report on Wednesday, August 28th. Finally, Piper Sandler lifted their target price on Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $28.00.

Veritex Stock Up 2.4 %

The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 15.93 and a beta of 1.37. The firm’s fifty day moving average price is $24.62 and its two-hundred day moving average price is $22.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Veritex had a return on equity of 7.97% and a net margin of 11.52%. The firm had revenue of $106.81 million for the quarter, compared to analyst estimates of $108.39 million. During the same period last year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. Sell-side analysts forecast that Veritex Holdings, Inc. will post 2.13 earnings per share for the current fiscal year.

Veritex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, August 9th. Veritex’s payout ratio is presently 46.51%.

Institutional Investors Weigh In On Veritex

A number of institutional investors and hedge funds have recently made changes to their positions in VBTX. Louisiana State Employees Retirement System boosted its position in shares of Veritex by 1.9% during the second 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 during the last quarter. Texas Permanent School Fund Corp lifted its stake in Veritex by 1.4% during 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 acquiring an additional 650 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Veritex by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,622 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 728 shares during the last quarter. Point72 DIFC Ltd grew its stake 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 worth $122,000 after acquiring an additional 816 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Veritex during the second quarter valued at about $25,000. Institutional investors and hedge funds 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.