Veritex (NASDAQ:VBTX) Stock Price Crosses Above 50 Day Moving Average of $22.42

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report)'s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $22.42 and traded as high as $24.27. Veritex shares last traded at $24.15, with a volume of 320,953 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Veritex from $26.00 to $27.00 and gave the stock an "overweight" rating in a research note on Thursday, July 25th. StockNews.com raised shares of Veritex from a "sell" rating to a "hold" rating in a report on Wednesday, May 29th. Stephens raised their target price on Veritex from $24.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 25th. Finally, DA Davidson reissued a "buy" rating and set a $29.00 price objective on shares of Veritex in a research report on Wednesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Veritex currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.50.

Veritex Stock Performance

The company has a market cap of $1.35 billion, a P/E ratio of 14.33 and a beta of 1.38. The business's 50 day simple moving average is $22.42 and its 200 day simple moving average is $20.92. 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 (NASDAQ:VBTX - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). The firm had revenue of $106.81 million during the quarter, compared to the consensus estimate of $108.39 million. Veritex had a return on equity of 7.97% and a net margin of 11.52%. The company's quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 EPS. Sell-side analysts predict that Veritex Holdings, Inc. will post 2.14 earnings per share for the current fiscal year.

Veritex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Friday, August 9th. Veritex's dividend payout ratio (DPR) is currently 46.51%.

Hedge Funds Weigh In On Veritex

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC purchased a new position in shares of Veritex during the fourth quarter valued at about $60,000. Victory Capital Management Inc. lifted its position in Veritex by 5.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,816,084 shares of the financial services provider's stock valued at $42,260,000 after purchasing an additional 93,753 shares during the last quarter. Solutions 4 Wealth Ltd bought a new stake in shares of Veritex in the 4th quarter worth about $1,308,000. Charles Schwab Investment Management Inc. raised its position in shares of Veritex by 12.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 647,486 shares of the financial services provider's stock valued at $15,067,000 after buying an additional 73,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Veritex by 19.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,853,774 shares of the financial services provider's stock valued at $43,139,000 after acquiring an additional 305,980 shares during 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.