Veritex (NASDAQ:VBTX) Stock Passes Below 200 Day Moving Average - What's Next?

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report)'s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.77 and traded as low as $25.55. Veritex shares last traded at $25.71, with a volume of 323,982 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VBTX. 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 report on Thursday, October 24th. Piper Sandler upped their price objective on shares of Veritex from $27.00 to $30.00 and gave the company an "overweight" rating in a research note 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. Raymond James raised Veritex from a "market perform" rating to a "strong-buy" rating and set a $30.00 price target on the stock in a research note on Tuesday, September 17th. Finally, StockNews.com raised Veritex from a "sell" rating to a "hold" rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $29.40.

Veritex Stock Down 4.9 %

The firm has a 50 day moving average price of $28.74 and a two-hundred day moving average price of $25.77. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 15.67 and a beta of 1.38. 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 (NASDAQ:VBTX - Get Free Report) last released its quarterly earnings data 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 company had revenue of $113.17 million during the quarter, compared to the consensus estimate of $110.22 million. Veritex had a net margin of 11.11% and a return on equity of 7.79%. Veritex's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 earnings per share. On average, equities analysts expect that Veritex Holdings, Inc. will post 2.17 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 3.27%. Veritex's payout ratio is currently 51.28%.

Insiders Place Their Bets

In related news, Director John Sughrue sold 16,820 shares of Veritex stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.25, for a total value of $508,805.00. Following the completion of the transaction, the director now directly owns 62,643 shares in the company, valued at approximately $1,894,950.75. This trade represents a 21.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO C Malcolm Holland III sold 12,777 shares of the company's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $27.69, for a total value of $353,795.13. Following the sale, the chief executive officer now owns 224,132 shares in the company, valued at $6,206,215.08. The trade was a 5.39 % decrease in their position. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.

Institutional Trading of Veritex

A number of institutional investors and hedge funds have recently modified their holdings of VBTX. Meeder Asset Management Inc. acquired a new stake in Veritex during the second quarter worth about $25,000. GAMMA Investing LLC grew its holdings in shares of Veritex by 14.7% during the fourth quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider's stock valued at $91,000 after purchasing an additional 431 shares during the last quarter. Systematic Financial Management LP acquired a new stake in shares of Veritex during the 3rd quarter worth approximately $98,000. Point72 DIFC Ltd lifted its holdings in shares of 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 purchasing an additional 816 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in Veritex by 295.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,438 shares of the financial services provider's stock valued at $196,000 after purchasing an additional 5,559 shares during the period. 88.31% of the stock is owned by institutional investors and hedge funds.

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.