Veritex (NASDAQ:VBTX) Price Target Raised to $26.00

Veritex (NASDAQ:VBTX) had its price target boosted by Piper Sandler from $25.00 to $26.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the stock. StockNews.com lowered shares of Veritex from a hold rating to a sell rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods lowered their price target on shares of Veritex from $29.00 to $27.00 and set an outperform rating for the company in a report on Thursday, January 25th. Finally, Stephens reissued an equal weight rating and set a $24.00 price objective on shares of Veritex in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $24.38.

Veritex Price Performance

Veritex stock opened at $20.17 on Thursday. The firm has a fifty day moving average of $19.86 and a 200-day moving average of $20.31. The firm has a market capitalization of $1.10 billion, a P/E ratio of 11.73 and a beta of 1.34. Veritex has a 52-week low of $14.88 and a 52-week high of $24.46. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.21.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). The firm had revenue of $191.25 million for the quarter, compared to analyst estimates of $109.70 million. Veritex had a net margin of 12.47% and a return on equity of 8.46%. During the same period in the previous year, the business posted $0.79 earnings per share. As a group, analysts predict that Veritex will post 2.24 EPS for the current year.

Veritex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Thursday, May 9th. Veritex’s dividend payout ratio is currently 46.51%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Cape Investment Advisory Inc. bought a new position in shares of Veritex in the 4th quarter worth about $52,000. GAMMA Investing LLC bought a new position in shares of Veritex in the 4th quarter worth about $60,000. Fifth Third Bancorp lifted its position in shares of Veritex by 1,319.3% in the 3rd quarter. Fifth Third Bancorp now owns 3,236 shares of the financial services provider’s stock worth $58,000 after buying an additional 3,008 shares during the last quarter. Quest Partners LLC bought a new position in shares of Veritex in the 4th quarter worth about $76,000. Finally, TFO Wealth Partners LLC lifted its position in shares of Veritex by 363,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,636 shares of the financial services provider’s stock worth $85,000 after buying an additional 3,635 shares during 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.