Veritex Holdings, Inc. (NASDAQ:VBTX) Receives Average Recommendation of "Moderate Buy" from Analysts

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

Several equities analysts have recently commented on the company. DA Davidson boosted their price objective on Veritex from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. StockNews.com raised Veritex from a "sell" rating to a "hold" rating in a report on Wednesday, October 30th. Piper Sandler increased their price objective 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 downgraded shares of Veritex from an "outperform" rating to a "market perform" rating in a report on Thursday, October 24th. Finally, Raymond James raised shares of Veritex from a "market perform" rating to a "strong-buy" rating and set a $30.00 target price for the company in a research note on Tuesday, September 17th.

Veritex Stock Performance

Shares of VBTX stock traded down $0.08 during trading hours on Thursday, reaching $27.82. 214,952 shares of the company traded hands, compared to its average volume of 402,160. Veritex has a 12-month low of $18.08 and a 12-month high of $31.62. The company has a market cap of $1.52 billion, a P/E ratio of 17.83 and a beta of 1.38. The firm has a 50-day moving average price of $28.91 and a 200 day moving average price of $25.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95.

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

Veritex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Friday, November 8th. Veritex's payout ratio is 51.28%.

Insiders Place Their Bets

In other Veritex news, Director John Sughrue sold 16,820 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.25, for a total transaction of $508,805.00. Following the transaction, the director now owns 62,643 shares in the company, valued at $1,894,950.75. The trade was a 21.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO C Malcolm Holland III sold 12,777 shares of the firm's stock in a transaction dated 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 owns 224,132 shares of the company's stock, valued at $6,206,215.08. This trade represents a 5.39 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company's stock.

Institutional Trading of Veritex

Several institutional investors have recently added to or reduced their stakes in the company. Sippican Capital Advisors raised its holdings in shares of Veritex by 0.4% in the third quarter. Sippican Capital Advisors now owns 99,230 shares of the financial services provider's stock worth $2,612,000 after buying an additional 400 shares during the period. Louisiana State Employees Retirement System increased its stake in Veritex by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the financial services provider's stock worth $578,000 after purchasing an additional 500 shares during the period. Franklin Resources Inc. boosted its stake in shares of Veritex by 1.0% during the third quarter. Franklin Resources Inc. now owns 73,421 shares of the financial services provider's stock valued at $1,920,000 after purchasing an additional 701 shares during the period. Point72 DIFC Ltd increased its stake in Veritex by 16.5% in the 2nd quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider's stock worth $122,000 after buying an additional 816 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in Veritex in the 2nd quarter valued at about $25,000. 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.