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

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the five research firms that are currently covering the firm, Marketbeat Ratings reports. Two 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 objective among analysts that have updated their coverage on the stock in the last year is $29.40.

Several research firms have recently issued reports on VBTX. StockNews.com raised shares of Veritex from a "sell" rating to a "hold" rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods downgraded Veritex from an "outperform" rating to a "market perform" rating in a report on Thursday, October 24th. Piper Sandler boosted their price objective on Veritex from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. DA Davidson increased their target price on Veritex from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Finally, 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 report on Tuesday, September 17th.

Insiders Place Their Bets

In related news, CEO C Malcolm Holland III sold 12,777 shares of the business's stock in a transaction dated Monday, October 28th. The shares were 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 represents a 5.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Sughrue sold 16,820 shares of the 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 sale, the director now owns 62,643 shares in the company, valued at approximately $1,894,950.75. This trade represents a 21.17 % decrease in their position. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Veritex

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Veritex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,795,336 shares of the financial services provider's stock worth $77,766,000 after acquiring an additional 23,222 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Veritex by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider's stock valued at $51,566,000 after purchasing an additional 299,562 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Veritex by 0.5% in the third quarter. Victory Capital Management Inc. now owns 1,978,219 shares of the financial services provider's stock worth $52,067,000 after purchasing an additional 9,611 shares during the period. Geode Capital Management LLC grew its position in Veritex by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider's stock valued at $34,064,000 after buying an additional 18,185 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Veritex by 11.7% during the 2nd quarter. American Century Companies Inc. now owns 827,202 shares of the financial services provider's stock valued at $17,446,000 after buying an additional 86,327 shares during the period. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Trading Down 0.2 %

VBTX traded down $0.07 during midday trading on Friday, hitting $30.41. The company's stock had a trading volume of 157,317 shares, compared to its average volume of 373,028. Veritex has a 52-week low of $18.08 and a 52-week high of $31.62. The firm has a 50-day moving average price of $27.69 and a two-hundred day moving average price of $24.24. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.66 billion, a P/E ratio of 19.49 and a beta of 1.36.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.04. The firm 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%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. On average, research analysts anticipate that Veritex will post 2.17 earnings per share for the current 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 issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Friday, November 8th. Veritex's dividend payout ratio is currently 51.28%.

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.