Veritex Holdings, Inc. (NASDAQ:VBTX) Receives $33.25 Consensus Price Target from Analysts

Shares of Veritex Holdings, Inc. (NASDAQ:VBTX) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $33.25.

Several equities analysts have weighed in on VBTX shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Veritex in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price target on Veritex from $30.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group assumed coverage on Veritex in a research note on Monday, July 14th. They issued a “buy” rating for the company. DA Davidson boosted their price target on Veritex from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, William Blair raised Veritex to an “outperform” rating in a research note on Monday, July 14th.

Veritex Trading Up 1.0%

Shares of VBTX opened at $30.26 on Wednesday. The business’s 50-day moving average price is $32.85 and its 200 day moving average price is $28.81. The stock has a market capitalization of $1.66 billion, a P/E ratio of 14.41 and a beta of 1.06. Veritex has a 1-year low of $20.37 and a 1-year high of $34.96. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.20.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Thursday, March 3rd. The financial services provider reported $0.64 earnings per share for the quarter. The firm had revenue of $64.03 million for the quarter. Veritex had a return on equity of 7.55% and a net margin of 14.83%. Analysts expect that Veritex will post 2.26 earnings per share for the current year.

Veritex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.9%. Veritex’s payout ratio is presently 41.90%.

Insider Buying and Selling

In related news, EVP Angela Harper sold 2,527 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $33.68, for a total value of $85,109.36. Following the completion of the sale, the executive vice president directly owned 53,991 shares in the company, valued at approximately $1,818,416.88. The trade was a 4.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Sughrue sold 5,669 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $32.00, for a total value of $181,408.00. Following the completion of the sale, the director owned 50,652 shares of the company’s stock, valued at approximately $1,620,864. This trade represents a 10.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,033 shares of company stock valued at $612,199 in the last quarter. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its holdings in shares of Veritex by 50.6% during the second quarter. Smartleaf Asset Management LLC now owns 1,042 shares of the financial services provider’s stock worth $27,000 after buying an additional 350 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Veritex in the first quarter valued at $28,000. EverSource Wealth Advisors LLC raised its stake in shares of Veritex by 260.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,571 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,135 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Veritex by 28.9% in the second quarter. GAMMA Investing LLC now owns 4,513 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 1,011 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Veritex in the first quarter valued at $135,000. 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.