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

Veritex Holdings, Inc. (NASDAQ:VBTX) has earned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $29.40.

A number of brokerages have recently commented on VBTX. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price on the stock in a research note on Tuesday, September 17th. Keefe, Bruyette & Woods cut shares of Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Piper Sandler raised their price target 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. Finally, DA Davidson upped their price objective on shares of Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th.

Insider Transactions at Veritex

In other news, CEO C Malcolm Holland III sold 12,777 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $27.69, for a total value of $353,795.13. Following the transaction, the chief executive officer now directly owns 224,132 shares of the company’s stock, valued at approximately $6,206,215.08. This trade represents a 5.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John Sughrue sold 16,820 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.25, for a total transaction of $508,805.00. Following the transaction, the director now owns 62,643 shares in the company, valued at $1,894,950.75. The trade was a 21.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Sippican Capital Advisors increased its holdings in shares of Veritex by 0.4% in the third quarter. Sippican Capital Advisors now owns 99,230 shares of the financial services provider’s stock valued at $2,612,000 after purchasing an additional 400 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Veritex by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the financial services provider’s stock worth $578,000 after acquiring an additional 500 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Veritex by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 73,421 shares of the financial services provider’s stock worth $1,920,000 after acquiring an additional 701 shares during the period. Point72 DIFC Ltd boosted its position in shares of Veritex by 16.5% during the 2nd 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, Meeder Asset Management Inc. purchased a new stake in shares of Veritex in the second quarter valued at about $25,000. 88.31% of the stock is owned by hedge funds and other institutional investors.

Veritex Stock Performance

VBTX opened at $27.05 on Thursday. The firm has a 50 day moving average of $28.91 and a two-hundred day moving average of $25.49. The firm has a market capitalization of $1.47 billion, a PE ratio of 17.34 and a beta of 1.38. 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 has a 12-month low of $18.08 and a 12-month high of $31.62.

Veritex (NASDAQ:VBTX) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. The company had revenue of $113.17 million during 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 quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. On average, analysts anticipate that Veritex will post 2.17 EPS for the current year.

Veritex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Friday, November 8th. Veritex’s payout ratio is 51.28%.

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.