Veritex Holdings, Inc. (NASDAQ:VBTX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Veritex Holdings, Inc. (NASDAQ:VBTX) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $31.50.

A number of brokerages recently commented on VBTX. Stephens reduced their price target on Veritex from $34.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. Raymond James cut their price objective on Veritex from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a research note on Thursday, January 30th. DA Davidson cut their price objective on Veritex from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Hovde Group upgraded Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price objective on the stock in a research note on Thursday, January 30th. Finally, Piper Sandler upped their price objective on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th.

Veritex Trading Up 0.8 %

Shares of VBTX opened at $26.71 on Friday. The company has a market capitalization of $1.46 billion, a P/E ratio of 13.70 and a beta of 1.38. Veritex has a one year low of $18.08 and a one year high of $31.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.95. The stock has a 50-day moving average price of $27.28 and a 200 day moving average price of $26.53.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.54 EPS 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 forecast that Veritex will post 2.26 EPS for the current fiscal year.

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, February 14th. Veritex’s payout ratio is 41.03%.

Institutional Trading of Veritex

A number of institutional investors and hedge funds have recently made changes to their positions in VBTX. Basswood Capital Management L.L.C. acquired a new stake in shares of Veritex during the 3rd quarter worth approximately $11,139,000. Schroder Investment Management Group acquired a new stake in shares of Veritex during the 4th quarter worth approximately $11,172,000. Assenagon Asset Management S.A. raised its position in shares of Veritex by 67.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider’s stock worth $21,248,000 after purchasing an additional 325,569 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Veritex during the 4th quarter worth approximately $6,974,000. Finally, Kennedy Capital Management LLC raised its position in shares of Veritex by 52.6% during the 4th quarter. Kennedy Capital Management LLC now owns 601,276 shares of the financial services provider’s stock worth $16,331,000 after purchasing an additional 207,376 shares during the period. 88.31% of the stock is currently owned by institutional investors and hedge funds.

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.