Veritex Holdings, Inc. (NASDAQ:VBTX) Receives $33.25 Consensus PT from Analysts

Shares of Veritex Holdings, Inc. (NASDAQ:VBTX) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $33.25.

Several equities research analysts recently commented on VBTX shares. Keefe, Bruyette & Woods boosted their price objective on shares of Veritex from $30.00 to $37.00 and gave the company a “market perform” rating in a research report on Tuesday, July 22nd. DA Davidson boosted their price target on Veritex from $32.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, July 24th. William Blair raised Veritex to an “outperform” rating in a research report on Monday, July 14th. The Goldman Sachs Group began coverage on Veritex in a research report on Monday, July 14th. They issued a “buy” rating on the stock. Finally, Piper Sandler restated a “neutral” rating and issued a $34.00 target price (up previously from $30.00) on shares of Veritex in a research note on Wednesday, July 16th.

Veritex Trading Down 0.4%

NASDAQ:VBTX opened at $33.66 on Friday. The business’s 50-day simple moving average is $33.02 and its 200-day simple moving average is $27.67. Veritex has a fifty-two week low of $20.37 and a fifty-two week high of $34.96. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $1.84 billion, a PE ratio of 16.03 and a beta of 1.08.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. The firm had revenue of $109.83 million for the quarter, compared to analyst estimates of $110.91 million. Veritex had a net margin of 14.83% and a return on equity of 7.55%. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Sell-side analysts expect that Veritex will post 2.26 earnings per share for the current fiscal year.

Veritex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, September 16th. Veritex’s payout ratio is presently 41.90%.

Insider Activity

In other Veritex news, Director Fallon William sold 7,220 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $30.68, for a total value of $221,509.60. Following the completion of the transaction, the director directly owned 14,191 shares in the company, valued at $435,379.88. This trade represents a 33.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arcilia Acosta sold 7,279 shares of the company’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 value of $233,947.06. Following the sale, the director owned 54,933 shares in the company, valued at approximately $1,765,546.62. This represents a 11.70% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 320,699 shares of company stock worth $10,361,627. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Veritex

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in Veritex by 50.6% in the second quarter. Smartleaf Asset Management LLC now owns 1,042 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 350 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Veritex in the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new stake in Veritex in the 1st quarter valued at about $31,000. EverSource Wealth Advisors LLC grew its holdings in Veritex by 260.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,571 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 1,135 shares during the period. Finally, GAMMA Investing LLC increased its position in Veritex by 28.9% during the second quarter. GAMMA Investing LLC now owns 4,513 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,011 shares during the last quarter. 88.31% of the stock is 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.