Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) has been given an average rating of "Moderate Buy" by the five brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $29.40.
A number of analysts have issued reports on the company. StockNews.com raised Veritex from a "sell" rating to a "hold" rating in a research note on Wednesday, October 30th. DA Davidson raised their price objective on shares of Veritex from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. 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 report on Tuesday, September 17th. Piper Sandler raised their price target on shares of Veritex from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods cut Veritex from an "outperform" rating to a "market perform" rating in a report on Thursday, October 24th.
View Our Latest Stock Analysis on Veritex
Shares of NASDAQ VBTX opened at $27.90 on Thursday. The firm has a 50-day simple moving average of $28.90 and a 200-day simple moving average of $25.27. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 17.88 and a beta of 1.38. Veritex has a 52 week low of $18.08 and a 52 week high of $31.62.
Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.04. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The business had revenue of $113.17 million during the quarter, compared to analyst estimates of $110.22 million. During the same period in the prior year, the business earned $0.60 earnings per share. The business's revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict that Veritex will post 2.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Friday, November 8th. Veritex's dividend payout ratio is presently 51.28%.
In other news, CEO C Malcolm Holland III sold 12,777 shares of the company's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $27.69, for a total transaction of $353,795.13. Following the completion of the transaction, the chief executive officer now directly owns 224,132 shares of the company's stock, valued at approximately $6,206,215.08. This represents a 5.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Sughrue sold 16,820 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,894,950.75. The trade was a 21.17 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.60% of the company's stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its position in shares of Veritex by 63.8% in the 3rd quarter. Barclays PLC now owns 117,609 shares of the financial services provider's stock valued at $3,095,000 after buying an additional 45,787 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new position in shares of Veritex during the second quarter worth about $566,000. Renaissance Technologies LLC acquired a new stake in shares of Veritex during the second quarter worth about $730,000. Stifel Financial Corp lifted its holdings in shares of Veritex by 4.6% in the 3rd quarter. Stifel Financial Corp now owns 48,582 shares of the financial services provider's stock valued at $1,279,000 after purchasing an additional 2,115 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Veritex by 66.5% in the 2nd quarter. AQR Capital Management LLC now owns 424,106 shares of the financial services provider's stock valued at $8,944,000 after purchasing an additional 169,448 shares during the period. Institutional investors and hedge funds own 88.31% of the company's stock.
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.
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