Veritex (NASDAQ:VBTX) Rating Reiterated by Stephens

Stephens reaffirmed their equal weight rating on shares of Veritex (NASDAQ:VBTX - Free Report) in a research note released on Monday morning, Benzinga reports. They currently have a $24.00 price objective on the financial services provider's stock.

Several other analysts also recently issued reports on VBTX. StockNews.com upgraded Veritex from a sell rating to a hold rating in a report on Friday, January 5th. Keefe, Bruyette & Woods lowered their price target on Veritex from $29.00 to $27.00 and set an outperform rating for the company in a report on Thursday, January 25th. Finally, Piper Sandler increased their price target on Veritex from $23.50 to $25.00 and gave the company an overweight rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $24.13.

Veritex Price Performance

Shares of NASDAQ:VBTX traded down $0.51 during trading on Monday, hitting $19.98. 505,434 shares of the stock were exchanged, compared to its average volume of 448,057. The company has a fifty day moving average price of $20.27 and a two-hundred day moving average price of $20.05. The company has a market cap of $1.09 billion, a PE ratio of 10.09 and a beta of 1.34. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.22. Veritex has a 12-month low of $14.88 and a 12-month high of $24.46.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.01). The business had revenue of $77.74 million during the quarter, compared to analyst estimates of $110.67 million. Veritex had a net margin of 14.51% and a return on equity of 9.47%. The company's revenue was down 35.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share. On average, analysts forecast that Veritex will post 2.2 EPS for the current year.

Veritex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.80 dividend on an annualized basis and a yield of 4.00%. Veritex's dividend payout ratio is currently 40.40%.

Hedge Funds Weigh In On Veritex

A number of large investors have recently bought and sold shares of the business. Point72 Middle East FZE acquired a new stake in shares of Veritex in the fourth quarter valued at approximately $31,000. Quarry LP boosted its stake in Veritex by 323.2% in the 1st quarter. Quarry LP now owns 1,676 shares of the financial services provider's stock worth $31,000 after purchasing an additional 1,280 shares during the period. Lazard Asset Management LLC bought a new position in shares of Veritex during the 1st quarter valued at $33,000. Point72 Hong Kong Ltd bought a new position in Veritex in the 1st quarter worth $41,000. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of Veritex during the 4th quarter worth about $41,000. 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.