Veritex Holdings, Inc. (NASDAQ:VBTX) Receives $30.25 Average PT from Analysts

Veritex Holdings, Inc. (NASDAQ:VBTX) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $30.92.

A number of equities analysts have issued reports on VBTX shares. Stephens reaffirmed an “equal weight” rating and issued a $30.00 price objective on shares of Veritex in a research note on Wednesday, April 23rd. Piper Sandler reaffirmed a “neutral” rating and issued a $34.00 price objective (up from $30.00) on shares of Veritex in a research note on Wednesday. The Goldman Sachs Group initiated coverage on shares of Veritex in a research report on Monday. They set a “buy” rating on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Veritex from $33.00 to $30.00 and set a “market perform” rating on the stock in a research report on Thursday, April 24th. Finally, Raymond James Financial cut shares of Veritex from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $31.00 to $28.00 in a research report on Wednesday, April 2nd.

Institutional Investors Weigh In On Veritex

A number of hedge funds and other institutional investors have recently made changes to their positions in VBTX. Charles Schwab Investment Management Inc. raised its holdings in shares of Veritex by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 741,274 shares of the financial services provider’s stock worth $20,133,000 after acquiring an additional 8,409 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Veritex during the fourth quarter worth $6,974,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Veritex during the fourth quarter worth $1,080,000. Commonwealth Equity Services LLC raised its holdings in shares of Veritex by 9.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 28,800 shares of the financial services provider’s stock worth $782,000 after acquiring an additional 2,437 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in shares of Veritex by 6.6% during the fourth quarter. Teacher Retirement System of Texas now owns 17,020 shares of the financial services provider’s stock worth $462,000 after acquiring an additional 1,050 shares during the period. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Price Performance

VBTX opened at $32.07 on Monday. Veritex has a one year low of $20.10 and a one year high of $33.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.94 and a quick ratio of 0.94. The company’s 50 day simple moving average is $25.65 and its 200-day simple moving average is $25.12. The stock has a market capitalization of $1.74 billion, a P/E ratio of 15.72 and a beta of 1.03.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Veritex had a net margin of 14.12% and a return on equity of 7.51%. The firm had revenue of $109.73 million for the quarter, compared to analysts’ expectations of $110.73 million. During the same period last year, the firm earned $0.53 earnings per share. Sell-side analysts anticipate that Veritex will post 2.26 earnings per share for the current fiscal year.

Veritex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.74%. This is a positive change from Veritex’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, May 8th. Veritex’s dividend payout ratio (DPR) is presently 43.14%.

About Veritex

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.