Veritex (NASDAQ:VBTX) Price Target Increased to $33.00 by Analysts at DA Davidson

Veritex (NASDAQ:VBTX) had its price objective increased by DA Davidson from $30.00 to $33.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for Veritex’s Q4 2024 earnings at $0.56 EPS.

Other research analysts also recently issued research reports about the company. StockNews.com downgraded Veritex from a “hold” rating to a “sell” rating in a research note on Tuesday. Raymond James raised 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 lowered Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday. Stephens increased their price target on shares of Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Finally, Piper Sandler lifted their price objective on shares of Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Veritex Stock Performance

Shares of NASDAQ:VBTX opened at $27.47 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Veritex has a 1-year low of $15.93 and a 1-year high of $28.46. The stock has a market capitalization of $1.50 billion, a P/E ratio of 15.97 and a beta of 1.37. The business has a 50-day moving average price of $25.18 and a two-hundred day moving average price of $22.54.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.88%. The company had revenue of $113.17 million during the quarter, compared to analysts’ expectations of $110.22 million. During the same quarter in the previous year, the company earned $0.60 EPS. Veritex’s revenue was up 3.8% on a year-over-year basis. Equities analysts predict that Veritex will post 2.13 earnings per share for the current year.

Veritex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, November 8th. Veritex’s dividend payout ratio (DPR) is presently 46.51%.

Institutional Trading of Veritex

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Veritex by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 3,772,114 shares of the financial services provider’s stock valued at $87,777,000 after buying an additional 52,933 shares during the period. Westwood Holdings Group Inc. increased its holdings in Veritex by 16.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock worth $34,193,000 after purchasing an additional 235,154 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Veritex by 10.1% in the 4th quarter. Wellington Management Group LLP now owns 547,221 shares of the financial services provider’s stock valued at $12,734,000 after purchasing an additional 50,406 shares during the period. Quantbot Technologies LP lifted its holdings in shares of Veritex by 1,599.8% in the first quarter. Quantbot Technologies LP now owns 39,232 shares of the financial services provider’s stock valued at $804,000 after purchasing an additional 36,924 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new position in shares of Veritex during the second quarter worth about $566,000. 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.