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

Shares of Veritex Holdings, Inc. (NASDAQ:VBTX) have received an average recommendation of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $29.40.

Several analysts have recently commented on VBTX shares. DA Davidson raised their target price on shares of Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Raymond James upgraded 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. Piper Sandler raised their target price on shares of Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Stephens raised their target price on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th.

Insider Activity

In other news, CEO C Malcolm Holland III sold 12,777 shares of the 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 completion of the transaction, the chief executive officer now owns 224,132 shares in the company, valued at $6,206,215.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Veritex news, Director John Sughrue sold 16,820 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.25, for a total transaction of $508,805.00. Following the completion of the transaction, the director now directly owns 62,643 shares in the company, valued at approximately $1,894,950.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Veritex

Several hedge funds have recently added to or reduced their stakes in VBTX. Westwood Holdings Group Inc. boosted its stake in shares of 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 worth $34,193,000 after purchasing an additional 235,154 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Veritex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,795,336 shares of the financial services provider’s stock worth $77,766,000 after purchasing an additional 23,222 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of Veritex by 1,599.8% during the 1st quarter. Quantbot Technologies LP now owns 39,232 shares of the financial services provider’s stock worth $804,000 after purchasing an additional 36,924 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in shares of Veritex during the 2nd quarter worth about $566,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Veritex during the 2nd quarter worth about $730,000. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

Veritex Stock Down 0.6 %

Shares of NASDAQ:VBTX opened at $30.34 on Wednesday. The stock has a market cap of $1.65 billion, a P/E ratio of 19.45 and a beta of 1.36. The firm has a fifty day moving average price of $26.25 and a 200 day moving average price of $23.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. Veritex has a 1-year low of $17.43 and a 1-year high of $30.85.

Veritex (NASDAQ:VBTX) last issued its quarterly 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 firm had revenue of $113.17 million during the quarter, compared to analysts’ expectations of $110.22 million. Veritex had a net margin of 11.11% and a return on equity of 7.79%. Veritex’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 EPS. Sell-side analysts predict that Veritex will post 2.17 EPS for the current year.

Veritex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.20 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.64%. Veritex’s dividend payout ratio is presently 51.28%.

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.