Veritex Holdings, Inc. (NASDAQ:VBTX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Veritex Holdings, Inc. (NASDAQ:VBTX) have earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $33.25.

VBTX has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price target on Veritex from $30.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, July 22nd. William Blair upgraded Veritex to an “outperform” rating in a research note on Monday, July 14th. DA Davidson boosted their price target on Veritex from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. The Goldman Sachs Group assumed coverage on Veritex in a research note on Monday, July 14th. They set a “buy” rating for the company. Finally, Piper Sandler reiterated a “neutral” rating and set a $34.00 price objective (up from $30.00) on shares of Veritex in a research note on Wednesday, July 16th.

Veritex Trading Down 0.0%

Veritex stock opened at $34.35 on Tuesday. The business has a 50-day simple moving average of $30.80 and a two-hundred day simple moving average of $26.44. The company has a market cap of $1.88 billion, a P/E ratio of 16.36 and a beta of 1.08. Veritex has a 52-week low of $20.37 and a 52-week high of $34.56. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.20.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. The business had revenue of $109.83 million during the quarter, compared to the consensus estimate of $110.91 million. Veritex had a return on equity of 7.55% and a net margin of 14.83%.During the same period in the previous year, the company posted $0.52 EPS. Analysts predict that Veritex will post 2.26 EPS for the current year.

Veritex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, August 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.6%. Veritex’s payout ratio is 41.90%.

Insider Activity at Veritex

In related news, Director Arcilia Acosta sold 7,279 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $32.14, for a total transaction of $233,947.06. Following the completion of the transaction, the director directly owned 54,933 shares in the company, valued at approximately $1,765,546.62. The trade was a 11.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Angela Harper sold 47,716 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $32.37, for a total value of $1,544,566.92. Following the transaction, the executive vice president owned 59,683 shares of the company’s stock, valued at approximately $1,931,938.71. This trade represents a 44.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 320,699 shares of company stock worth $10,361,627 in the last quarter. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Nuveen LLC purchased a new position in Veritex in the 1st quarter worth approximately $29,215,000. Millennium Management LLC lifted its holdings in Veritex by 220.5% in the 4th quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider’s stock worth $26,247,000 after purchasing an additional 664,885 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Veritex by 1,813.1% in the 1st quarter. MetLife Investment Management LLC now owns 614,873 shares of the financial services provider’s stock worth $15,353,000 after purchasing an additional 582,733 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in shares of Veritex during the 4th quarter worth approximately $14,644,000. Finally, Nuveen Asset Management LLC raised its holdings in shares of Veritex by 57.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider’s stock worth $33,675,000 after acquiring an additional 454,015 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors.

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.