Veritex (NASDAQ:VBTX) Price Target Raised to $27.00

Veritex (NASDAQ:VBTX) had its price target raised by Stephens from $24.00 to $27.00 in a research report released on Thursday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. StockNews.com upgraded Veritex from a sell rating to a hold rating in a research note on Wednesday, May 29th. Piper Sandler upped their target price on shares of Veritex from $26.00 to $27.00 and gave the stock an overweight rating in a report on Thursday. Finally, DA Davidson upped their target price on shares of Veritex from $27.00 to $29.00 and gave the stock a buy rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Veritex presently has a consensus rating of Moderate Buy and an average price target of $27.50.

Veritex Price Performance

Shares of NASDAQ VBTX opened at $25.34 on Thursday. The firm has a market cap of $1.38 billion, a P/E ratio of 14.73 and a beta of 1.38. The company has a quick ratio of 0.95, a current ratio of 0.90 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $21.22 and a 200 day moving average of $20.66. Veritex has a twelve month low of $15.93 and a twelve month high of $25.46.

Veritex (NASDAQ:VBTX) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The company had revenue of $106.81 million for the quarter, compared to analysts’ expectations of $108.39 million. Veritex had a net margin of 11.52% and a return on equity of 7.97%. Veritex’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. As a group, research analysts expect that Veritex will post 2.16 EPS for the current fiscal year.

Veritex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, August 9th. Veritex’s payout ratio is currently 46.51%.

Institutional Trading of Veritex

Several institutional investors and hedge funds have recently modified their holdings of VBTX. Fidelis Capital Partners LLC bought a new stake in shares of Veritex during the first quarter valued at approximately $29,000. Cape Investment Advisory Inc. bought a new stake in shares of Veritex during the fourth quarter valued at approximately $52,000. GAMMA Investing LLC bought a new stake in shares of Veritex during the fourth quarter valued at approximately $60,000. CWM LLC raised its stake in shares of Veritex by 1,302.9% during the second quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 3,101 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Veritex during the fourth quarter valued at approximately $76,000. 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.