Veritex Holdings, Inc. (NASDAQ:VBTX) Receives $30.25 Consensus Target Price from Analysts

Veritex Holdings, Inc. (NASDAQ:VBTX) has been assigned an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $30.25.

VBTX has been the subject of a number of research reports. DA Davidson cut their target price on shares of Veritex from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Raymond James cut shares of Veritex from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $31.00 to $28.00 in a report on Wednesday, April 2nd. Stephens restated an “equal weight” rating and set a $30.00 price objective on shares of Veritex in a report on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods lowered their target price on Veritex from $33.00 to $30.00 and set a “market perform” rating on the stock in a research note on Thursday, April 24th.

Veritex Stock Performance

VBTX opened at $24.32 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. Veritex has a 12-month low of $19.27 and a 12-month high of $31.62. The business has a 50 day moving average of $23.39 and a 200-day moving average of $25.80. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 12.47 and a beta of 1.01.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Veritex had a return on equity of 7.59% and a net margin of 13.44%. The business had revenue of $109.73 million for the quarter, compared to analysts’ expectations of $110.73 million. During the same quarter in the prior year, the business earned $0.53 EPS. On average, equities research analysts expect that Veritex will post 2.26 earnings per share for the current year.

Veritex Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, May 8th. This is a boost from Veritex’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 3.62%. Veritex’s dividend payout ratio (DPR) is currently 43.14%.

Institutional Investors Weigh In On Veritex

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nuveen LLC acquired a new position in Veritex in the 1st quarter valued at $29,215,000. Millennium Management LLC raised its stake in Veritex by 220.5% in the fourth quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider’s stock valued at $26,247,000 after purchasing an additional 664,885 shares in the last quarter. MetLife Investment Management LLC raised its stake in Veritex by 1,813.1% in the first quarter. MetLife Investment Management LLC now owns 614,873 shares of the financial services provider’s stock valued at $15,353,000 after purchasing an additional 582,733 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new stake in Veritex during the fourth quarter worth about $14,644,000. Finally, Nuveen Asset Management LLC grew its stake in Veritex by 57.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider’s stock worth $33,675,000 after buying an additional 454,015 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

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.