Veritex (NASDAQ:VBTX) Price Target Raised to $33.00 at DA Davidson

Veritex (NASDAQ:VBTX) had its price target boosted by DA Davidson from $30.00 to $33.00 in a research report released on Thursday morning, Benzinga reports. DA Davidson currently has a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for Veritex’s Q4 2024 earnings at $0.56 EPS.

Several other equities research analysts also recently issued reports on VBTX. Stephens raised their price objective on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Piper Sandler boosted their price target on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday. Keefe, Bruyette & Woods cut Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday. StockNews.com cut shares of Veritex from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Finally, Raymond James raised shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Veritex has an average rating of “Moderate Buy” and a consensus target price of $29.40.

Veritex Stock Down 1.4 %

VBTX opened at $27.08 on Thursday. The stock’s fifty day simple moving average is $25.36 and its 200 day simple moving average is $22.62. Veritex has a 1-year low of $16.84 and a 1-year high of $28.46. The stock has a market cap of $1.48 billion, a PE ratio of 15.74 and a beta of 1.37. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04. The company 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 7.88%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. As a group, research analysts expect that Veritex will post 2.13 earnings per share for the current year.

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Friday, November 8th. Veritex’s payout ratio is currently 46.51%.

Institutional Investors Weigh In On Veritex

Institutional investors and hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in shares of Veritex in the 2nd quarter valued at approximately $25,000. Fidelis Capital Partners LLC acquired a new position in Veritex during the first quarter valued at approximately $29,000. CWM LLC lifted its stake in Veritex by 1,302.9% during the second quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 3,101 shares during the last quarter. Point72 DIFC Ltd boosted its holdings 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 valued at $122,000 after purchasing an additional 816 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Veritex in the 1st quarter valued at $177,000. Institutional investors 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.