StockNews.com upgraded shares of Veritex (NASDAQ:VBTX - Free Report) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
Other equities research analysts have also issued reports about the stock. Stephens upped their price objective on shares of Veritex from $24.00 to $27.00 and gave the company an "equal weight" rating in a research note on Thursday, July 25th. Piper Sandler lifted their price objective on Veritex from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Raymond James upgraded Veritex from a "market perform" rating to a "strong-buy" rating and set a $30.00 target price on the stock in a research report on Tuesday, September 17th. DA Davidson boosted their price target on Veritex from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods downgraded shares of Veritex from an "outperform" rating to a "market perform" rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $29.40.
Read Our Latest Stock Analysis on Veritex
Veritex Trading Up 0.3 %
NASDAQ:VBTX traded up $0.09 during mid-day trading on Wednesday, hitting $27.41. 232,408 shares of the company's stock were exchanged, compared to its average volume of 404,777. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. Veritex has a fifty-two week low of $16.93 and a fifty-two week high of $28.46. The company has a 50 day simple moving average of $25.54 and a 200-day simple moving average of $22.77. The firm has a market capitalization of $1.49 billion, a P/E ratio of 15.88 and a beta of 1.37.
Veritex (NASDAQ:VBTX - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. The business had revenue of $113.17 million during the quarter, compared to analyst estimates of $110.22 million. Veritex had a return on equity of 7.79% and a net margin of 11.11%. Veritex's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.60 EPS. As a group, research analysts expect that Veritex will post 2.14 earnings per share for the current year.
Veritex Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 annualized dividend and a yield of 2.92%. Veritex's payout ratio is 46.51%.
Institutional Investors Weigh In On Veritex
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. raised its stake in shares of Veritex by 9.0% in the third quarter. Harbor Capital Advisors Inc. now owns 16,957 shares of the financial services provider's stock worth $446,000 after purchasing an additional 1,405 shares during the last quarter. F M Investments LLC lifted its stake in Veritex by 25.4% during the 3rd quarter. F M Investments LLC now owns 504,195 shares of the financial services provider's stock valued at $13,271,000 after acquiring an additional 101,973 shares in the last quarter. Sippican Capital Advisors boosted its holdings in Veritex by 0.4% during the 3rd quarter. Sippican Capital Advisors now owns 99,230 shares of the financial services provider's stock worth $2,612,000 after acquiring an additional 400 shares during the last quarter. Assenagon Asset Management S.A. grew its stake 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 worth $21,248,000 after acquiring an additional 325,569 shares in the last quarter. Finally, Raymond James & Associates purchased a new stake in shares of Veritex in the third quarter valued at about $3,971,000. Institutional investors and hedge funds own 88.31% of the company's stock.
About Veritex
(
Get Free Report)
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.
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