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

Veritex (NASDAQ:VBTX - Free Report) had its target price hoisted by DA Davidson from $30.00 to $33.00 in a report issued on Thursday, Benzinga reports. DA Davidson currently has a buy rating on the financial services provider's stock.

VBTX has been the subject of a number of other research reports. Raymond James upgraded Veritex from a "market perform" rating to a "strong-buy" rating and set a $30.00 price target for the company in a report on Tuesday, September 17th. Piper Sandler raised their price target on shares of Veritex from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday. Keefe, Bruyette & Woods lowered shares of Veritex from an "outperform" rating to a "market perform" rating in a report on Thursday. StockNews.com downgraded Veritex from a "hold" rating to a "sell" rating in a research note on Tuesday. Finally, Stephens boosted their price target on Veritex from $24.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $29.40.

Veritex Trading Down 1.5 %

Shares of Veritex stock traded down $0.41 during trading hours on Thursday, hitting $27.47. The company's stock had a trading volume of 311,124 shares, compared to its average volume of 403,694. The business has a fifty day moving average of $25.18 and a 200 day moving average of $22.54. Veritex has a 1-year low of $15.93 and a 1-year high of $28.46. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.50 billion, a PE ratio of 15.97 and a beta of 1.37.

Veritex (NASDAQ:VBTX - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.04. Veritex had a return on equity of 7.88% and a net margin of 11.11%. The firm had revenue of $113.17 million during the quarter, compared to the consensus estimate of $110.22 million. During the same period in the prior year, the firm earned $0.60 EPS. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts forecast that Veritex will post 2.13 EPS for the current year.

Veritex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a $0.20 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.91%. Veritex's dividend payout ratio (DPR) is presently 46.51%.

Institutional Trading of Veritex

Institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its holdings in shares of Veritex by 67.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider's stock valued at $21,248,000 after acquiring an additional 325,569 shares during the last quarter. Raymond James & Associates bought a new stake in Veritex during the third quarter valued at $3,971,000. Vontobel Holding Ltd. bought a new stake in Veritex during the third quarter valued at $240,000. CWM LLC raised its holdings in shares of Veritex by 163.8% during the third quarter. CWM LLC now owns 8,808 shares of the financial services provider's stock worth $232,000 after purchasing an additional 5,469 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Veritex in the 3rd quarter worth about $949,000. Institutional investors and hedge funds own 88.31% of the company's stock.

About Veritex

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.