Brokerages Set Veritex Holdings, Inc. (NASDAQ:VBTX) Price Target at $29.40

Shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) have earned an average rating of "Moderate Buy" from the five research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $29.40.

A number of research analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of Veritex from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods cut shares of Veritex from an "outperform" rating to a "market perform" rating in a research note on Thursday, October 24th. DA Davidson upped their target price on shares of Veritex from $30.00 to $33.00 and gave the company a "buy" rating in a research report 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 Price Performance

Shares of VBTX traded up $0.14 during midday trading on Monday, hitting $26.35. 344,112 shares of the company traded hands, compared to its average volume of 374,002. Veritex has a 52 week low of $18.08 and a 52 week high of $31.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a 50 day moving average of $28.44 and a 200-day moving average of $26.06. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 16.89 and a beta of 1.38.

Veritex (NASDAQ:VBTX - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.04. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The company had revenue of $113.17 million during the quarter, compared to analyst estimates of $110.22 million. During the same period in the prior year, the company earned $0.60 earnings per share. The firm's revenue was up 3.8% on a year-over-year basis. On average, analysts forecast that Veritex will post 2.17 EPS for the current fiscal year.

Veritex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 3.04%. Veritex's dividend payout ratio (DPR) is presently 51.28%.

Insider Buying and Selling

In other news, CEO C Malcolm Holland III sold 12,777 shares of Veritex stock in a transaction 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 sale, the chief executive officer now directly owns 224,132 shares in the company, valued at approximately $6,206,215.08. This trade represents a 5.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Sughrue sold 16,820 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.25, for a total transaction of $508,805.00. Following the completion of the transaction, the director now owns 62,643 shares in the company, valued at approximately $1,894,950.75. The trade was a 21.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Veritex

Several large investors have recently added to or reduced their stakes in VBTX. Basswood Capital Management L.L.C. purchased a new stake in Veritex in the third quarter worth about $11,139,000. Assenagon Asset Management S.A. raised 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 purchasing an additional 325,569 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Veritex by 14.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider's stock worth $51,566,000 after purchasing an additional 299,562 shares during the period. AQR Capital Management LLC boosted its stake in shares of Veritex by 66.5% during the second quarter. AQR Capital Management LLC now owns 424,106 shares of the financial services provider's stock valued at $8,944,000 after purchasing an additional 169,448 shares in the last quarter. Finally, Stieven Capital Advisors L.P. increased its holdings in Veritex by 39.0% during the third quarter. Stieven Capital Advisors L.P. now owns 561,636 shares of the financial services provider's stock valued at $14,782,000 after buying an additional 157,571 shares during the period. 88.31% of the stock is owned by hedge funds and other institutional investors.

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.