Veritex Holdings, Inc. (NASDAQ:VBTX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Veritex Holdings, Inc. (NASDAQ:VBTX) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $29.40.

A number of brokerages have recently issued reports on VBTX. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research note 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 research note on Thursday, October 24th. DA Davidson increased their price objective 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. Finally, Keefe, Bruyette & Woods cut shares of Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th.

Veritex Price Performance

NASDAQ:VBTX opened at $26.35 on Monday. The stock has a market cap of $1.44 billion, a P/E ratio of 16.89 and a beta of 1.38. Veritex has a one year low of $18.08 and a one year high of $31.62. The company has a fifty day moving average price of $28.44 and a 200 day moving average price of $26.06. 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) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The company had revenue of $113.17 million during the quarter, compared to analysts’ expectations of $110.22 million. During the same quarter in the prior year, the company posted $0.60 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Analysts anticipate that Veritex will post 2.17 earnings per share for the current year.

Veritex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Friday, November 8th. Veritex’s dividend payout ratio is currently 51.28%.

Insiders Place Their Bets

In other Veritex news, CEO C Malcolm Holland III sold 12,777 shares of the 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Sughrue sold 16,820 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were 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 directly owns 62,643 shares in the company, valued at $1,894,950.75. This trade represents a 21.17 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake 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 valued at $51,566,000 after purchasing an additional 299,562 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Veritex by 0.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,978,219 shares of the financial services provider’s stock valued at $52,067,000 after purchasing an additional 9,611 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 acquiring an additional 18,185 shares during the period. Assenagon Asset Management S.A. raised its position 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 acquiring an additional 325,569 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Veritex by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 732,865 shares of the financial services provider’s stock valued at $19,289,000 after acquiring an additional 12,286 shares during the period. Institutional investors own 88.31% of the company’s stock.

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.