Veritex’s (VBTX) Buy Rating Reiterated at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Veritex (NASDAQ:VBTX) in a research note released on Monday,Benzinga reports. They currently have a $34.00 price target on the financial services provider’s stock.

A number of other research analysts have also recently weighed in on the stock. Stephens cut their price objective on shares of Veritex from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. Raymond James cut their price objective on shares of Veritex from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a research report on Thursday, January 30th. Finally, Hovde Group upgraded shares of Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price objective on the stock in a research report on Thursday, January 30th. Three 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.50.

Veritex Trading Up 1.1 %

Shares of VBTX opened at $24.69 on Monday. The company’s fifty day moving average is $25.91 and its 200 day moving average is $26.88. Veritex has a fifty-two week low of $18.65 and a fifty-two week high of $31.62. The stock has a market capitalization of $1.34 billion, a PE ratio of 12.66 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.95.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Veritex had a net margin of 13.44% and a return on equity of 7.59%. Sell-side analysts expect that Veritex will post 2.26 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Friday, February 14th. Veritex’s dividend payout ratio is currently 41.03%.

Institutional Trading of Veritex

A number of large investors have recently made changes to their positions in the stock. USA Financial Formulas purchased a new stake in Veritex in the fourth quarter worth about $32,000. Quarry LP lifted its stake in Veritex by 117.0% in the fourth quarter. Quarry LP now owns 1,528 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 824 shares during the period. R Squared Ltd purchased a new stake in Veritex in the fourth quarter worth about $45,000. GAMMA Investing LLC lifted its stake in Veritex by 14.7% in the fourth quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 431 shares during the period. Finally, Systematic Financial Management LP purchased a new stake in Veritex in the third quarter worth about $98,000. 88.31% of the stock is owned by hedge funds and other institutional investors.

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.