DA Davidson Has Lowered Expectations for Veritex (NASDAQ:VBTX) Stock Price

Veritex (NASDAQ:VBTX - Free Report) had its price target cut by DA Davidson from $36.00 to $34.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the financial services provider's stock. DA Davidson also issued estimates for Veritex's Q1 2025 earnings at $0.48 EPS and FY2025 earnings at $2.43 EPS.

A number of other research firms have also recently commented on VBTX. Stephens lowered their price target on Veritex from $34.00 to $31.00 and set an "equal weight" rating on the stock in a report on Thursday. Raymond James decreased their price objective on Veritex from $32.00 to $31.00 and set a "strong-buy" rating on the stock in a report on Thursday. Hovde Group raised Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 price objective on the stock in a report on Thursday. StockNews.com raised Veritex from a "sell" rating to a "hold" rating in a report on Wednesday, October 30th. Finally, Piper Sandler upped their price objective on Veritex from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Veritex has a consensus rating of "Moderate Buy" and an average target price of $31.50.

Veritex Stock Performance

Shares of NASDAQ:VBTX traded down $0.68 during mid-day trading on Thursday, reaching $26.12. 286,088 shares of the company traded hands, compared to its average volume of 463,683. The company's 50 day moving average price is $27.85 and its 200-day moving average price is $26.39. The firm has a market cap of $1.42 billion, a PE ratio of 13.39 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.94. Veritex has a 52 week low of $18.08 and a 52 week high of $31.62.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.02). Veritex had a return on equity of 7.59% and a net margin of 13.44%. On average, equities analysts expect that Veritex will post 2.25 EPS for the current fiscal year.

Veritex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, February 14th. Veritex's dividend payout ratio is currently 41.03%.

Insider Activity

In other Veritex news, Director John Sughrue sold 16,820 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.25, for a total value of $508,805.00. Following the transaction, the director now owns 62,643 shares of the company's stock, valued at $1,894,950.75. This represents a 21.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.60% of the company's stock.

Hedge Funds Weigh In On Veritex

Hedge funds have recently bought and sold shares of the business. USA Financial Formulas bought a new position in Veritex in the 4th quarter valued at $32,000. R Squared Ltd bought a new position in Veritex in the 4th quarter valued at $45,000. GAMMA Investing LLC grew its position in shares of Veritex by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider's stock worth $91,000 after buying an additional 431 shares in the last quarter. Systematic Financial Management LP bought a new position in shares of Veritex during the 3rd quarter worth $98,000. Finally, KBC Group NV grew its position in shares of Veritex by 73.5% during the 4th quarter. KBC Group NV now owns 3,826 shares of the financial services provider's stock worth $104,000 after buying an additional 1,621 shares in the last quarter. Institutional investors own 88.31% of the company's stock.

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.