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

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight brokerages that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $33.25.

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods lifted their target price on Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group started coverage on Veritex in a research note on Monday, July 14th. They set a "buy" rating for the company. Piper Sandler reaffirmed a "neutral" rating and set a $34.00 price objective (up from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. Stephens reaffirmed an "equal weight" rating and set a $30.00 price objective on shares of Veritex in a research note on Wednesday, April 23rd. Finally, DA Davidson increased their target price on Veritex from $32.00 to $39.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th.

Veritex Trading Down 1.3%

VBTX opened at $30.54 on Friday. The stock has a fifty day moving average price of $27.88 and a 200-day moving average price of $25.72. Veritex has a 12 month low of $20.37 and a 12 month high of $33.69. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 14.54 and a beta of 1.08. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.02. Veritex had a return on equity of 7.55% and a net margin of 14.83%. The company had revenue of $109.83 million for the quarter, compared to the consensus estimate of $110.91 million. During the same quarter in the prior year, the business posted $0.52 earnings per share. As a group, equities research analysts anticipate that Veritex will post 2.26 earnings per share for the current fiscal year.

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, August 7th. This represents a $0.88 annualized dividend and a dividend yield of 2.9%. Veritex's payout ratio is currently 41.90%.

Insider Activity

In other Veritex news, Director Fallon William sold 7,220 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $30.68, for a total value of $221,509.60. Following the transaction, the director owned 14,191 shares of the company's stock, valued at approximately $435,379.88. This represents a 33.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cara Mcdaniel sold 10,000 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $32.53, for a total transaction of $325,300.00. Following the sale, the insider directly owned 17,372 shares in the company, valued at approximately $565,111.16. This trade represents a 36.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 315,030 shares of company stock valued at $10,180,219 over the last 90 days. Corporate insiders own 4.30% of the company's stock.

Institutional Trading of Veritex

Several hedge funds have recently modified their holdings of VBTX. Acadian Asset Management LLC acquired a new stake in shares of Veritex during the first quarter worth $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Veritex during the 1st quarter worth about $31,000. Quarry LP boosted its holdings in shares of Veritex by 117.0% during the 4th quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock worth $42,000 after buying an additional 824 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Veritex by 28.9% during the 2nd quarter. GAMMA Investing LLC now owns 4,513 shares of the financial services provider's stock worth $118,000 after buying an additional 1,011 shares during the period. Finally, Aquatic Capital Management LLC bought a new stake in Veritex in the 4th quarter valued at about $143,000. 88.31% of the stock is owned by institutional investors.

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.

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