Stephens Raises Veritex (NASDAQ:VBTX) Price Target to $27.00

Veritex (NASDAQ:VBTX) had its target price lifted by Stephens from $24.00 to $27.00 in a research note published on Thursday morning, Benzinga reports. Stephens currently has an equal weight rating on the financial services provider’s stock.

A number of other research analysts also recently commented on the stock. StockNews.com raised shares of Veritex from a sell rating to a hold rating in a report on Wednesday, May 29th. Piper Sandler increased their price target on shares of Veritex from $26.00 to $27.00 and gave the company an overweight rating in a report on Thursday. Finally, DA Davidson raised their price objective on shares of Veritex from $27.00 to $29.00 and gave the stock a buy rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $27.50.

Veritex Stock Up 2.3 %

Shares of NASDAQ:VBTX opened at $25.34 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Veritex has a 12 month low of $15.93 and a 12 month high of $25.46. The company has a 50-day moving average price of $21.22 and a 200 day moving average price of $20.65. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 14.73 and a beta of 1.38.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Veritex had a net margin of 11.52% and a return on equity of 7.97%. The business had revenue of $106.81 million during the quarter, compared to the consensus estimate of $108.39 million. During the same period in the previous year, the business posted $0.64 EPS. The firm’s revenue was down 6.7% on a year-over-year basis. As a group, equities research analysts predict that Veritex will post 2.15 earnings per share for the current year.

Veritex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, August 9th. Veritex’s payout ratio is currently 46.51%.

Institutional Trading of Veritex

Several institutional investors have recently added to or reduced their stakes in VBTX. Fidelis Capital Partners LLC bought a new stake in Veritex in the first quarter worth about $29,000. Cape Investment Advisory Inc. bought a new stake in shares of Veritex during the fourth quarter valued at approximately $52,000. GAMMA Investing LLC bought a new stake in shares of Veritex during the fourth quarter valued at approximately $60,000. CWM LLC raised its stake in shares of 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 in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Veritex during the fourth quarter valued at approximately $76,000. Institutional investors own 88.31% of the company’s stock.

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.