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

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

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods downgraded Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th. StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Raymond James raised 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 report on Tuesday, September 17th. Piper Sandler boosted their target price on shares of Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, DA Davidson increased 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.

Veritex Price Performance

Veritex stock opened at $30.45 on Friday. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 19.52 and a beta of 1.38. Veritex has a 52-week low of $18.08 and a 52-week high of $31.62. The company has a fifty day simple moving average of $28.13 and a 200-day simple moving average of $24.53. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

Veritex (NASDAQ:VBTX) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The business 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%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. On average, equities analysts anticipate that Veritex will post 2.17 EPS for the current fiscal year.

Veritex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a $0.20 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.63%. Veritex’s payout ratio is currently 51.28%.

Insider Buying and Selling at Veritex

In related news, Director John Sughrue sold 16,820 shares of the business’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 in the company, valued at approximately $1,894,950.75. The trade was a 21.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO C Malcolm Holland III sold 12,777 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $27.69, for a total value of $353,795.13. Following the transaction, the chief executive officer now owns 224,132 shares of the company’s stock, valued at $6,206,215.08. This trade represents a 5.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.

Institutional Trading of Veritex

A number of institutional investors and hedge funds have recently bought and sold shares of VBTX. Meeder Asset Management Inc. purchased a new position in shares of Veritex in the second quarter valued at approximately $25,000. CWM LLC boosted its position in Veritex by 1,302.9% in the 2nd quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock valued at $70,000 after buying an additional 3,101 shares during the period. Systematic Financial Management LP acquired a new position in shares of Veritex in the third quarter worth $98,000. Point72 DIFC Ltd increased its position in shares of Veritex by 16.5% during 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 period. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Veritex by 295.8% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,438 shares of the financial services provider’s stock valued at $196,000 after acquiring an additional 5,559 shares in the last quarter. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

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.