Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) has received an average rating of "Moderate Buy" from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $29.40.
Several brokerages recently commented on VBTX. Stephens upped their price target on shares of Veritex from $24.00 to $27.00 and gave the company an "equal weight" rating in a report on Thursday, July 25th. DA Davidson boosted their price objective on shares of Veritex from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Piper Sandler boosted their price objective on shares of Veritex from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. StockNews.com raised shares of Veritex from a "sell" rating to a "hold" rating in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods cut shares of Veritex from an "outperform" rating to a "market perform" rating in a research report on Thursday, October 24th.
View Our Latest Stock Analysis on VBTX
In other news, CEO C Malcolm Holland III sold 12,777 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 224,132 shares of the company's stock, valued at approximately $6,206,215.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.60% of the company's stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of VBTX. Meeder Asset Management Inc. purchased a new stake in Veritex during the second quarter valued at approximately $25,000. Fidelis Capital Partners LLC purchased a new stake in Veritex during the first quarter valued at approximately $29,000. CWM LLC lifted its position in 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 during the last quarter. Point72 DIFC Ltd lifted its position in Veritex by 16.5% during the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider's stock valued at $122,000 after acquiring an additional 816 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Veritex during the first quarter valued at approximately $177,000. Hedge funds and other institutional investors own 88.31% of the company's stock.
Shares of NASDAQ:VBTX opened at $26.85 on Wednesday. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 17.21 and a beta of 1.36. Veritex has a 12 month low of $17.43 and a 12 month high of $28.46. The firm's 50-day moving average is $25.86 and its 200 day moving average is $23.03. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.
Veritex (NASDAQ:VBTX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 EPS 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 the consensus estimate of $110.22 million. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The firm's revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. Research analysts predict that Veritex will post 2.14 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.98%. Veritex's payout ratio is presently 51.28%.
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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