Veritex Holdings, Inc. (NASDAQ:VBTX) Given Consensus Recommendation of "Moderate Buy" by Analysts

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the five ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $29.40.

A number of research analysts recently weighed in on VBTX shares. DA Davidson lifted their target price on shares of Veritex from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Stephens boosted their price objective on Veritex from $24.00 to $27.00 and gave the company an "equal weight" rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods cut Veritex from an "outperform" rating to a "market perform" rating in a research report on Thursday, October 24th. Piper Sandler lifted their target price on Veritex from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Finally, StockNews.com raised shares of Veritex from a "sell" rating to a "hold" rating in a report on Wednesday, October 30th.

Veritex Stock Performance

VBTX traded up $3.49 during trading on Wednesday, hitting $30.34. The company's stock had a trading volume of 828,986 shares, compared to its average volume of 405,925. Veritex has a one year low of $17.43 and a one year high of $30.64. The business's 50 day simple moving average is $25.97 and its 200-day simple moving average is $23.08. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.65 billion, a PE ratio of 19.45 and a beta of 1.36.

Veritex (NASDAQ:VBTX - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.04. The company had revenue of $113.17 million for the quarter, compared to analysts' expectations 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 firm earned $0.60 EPS. As a group, sell-side analysts predict that Veritex will post 2.14 EPS for the current fiscal year.

Veritex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Friday, November 8th. Veritex's payout ratio is presently 51.28%.

Insiders Place Their Bets

In other news, CEO C Malcolm Holland III sold 12,777 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $27.69, for a total transaction of $353,795.13. Following the completion of the transaction, the chief executive officer now directly owns 224,132 shares in the company, valued at approximately $6,206,215.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. bought a new stake in Veritex in the second quarter worth $25,000. Fidelis Capital Partners LLC purchased a new position in shares of Veritex during the 1st quarter worth about $29,000. CWM LLC boosted its stake in shares of Veritex by 1,302.9% during the 2nd quarter. CWM LLC now owns 3,339 shares of the financial services provider's stock worth $70,000 after purchasing an additional 3,101 shares during the period. Point72 DIFC Ltd grew its holdings in Veritex by 16.5% during the 2nd quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider's stock valued at $122,000 after purchasing an additional 816 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Veritex in the 1st quarter worth about $177,000. 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.