Veritex Holdings, Inc. (NASDAQ:VBTX) Receives Consensus Rating of "Moderate Buy" from Brokerages

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $30.25.

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods dropped their price target on Veritex from $33.00 to $30.00 and set a "market perform" rating on the stock in a research report on Thursday, April 24th. Stephens reissued an "equal weight" rating and issued a $30.00 price target on shares of Veritex in a research report on Wednesday, April 23rd. Raymond James Financial cut Veritex from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $31.00 to $28.00 in a research report on Wednesday, April 2nd. Finally, DA Davidson dropped their price target on Veritex from $34.00 to $32.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd.

Veritex Stock Up 0.5%

Veritex stock traded up $0.13 during trading hours on Thursday, hitting $24.30. 969,774 shares of the stock traded hands, compared to its average volume of 391,796. The firm's 50-day moving average price is $23.87 and its two-hundred day moving average price is $25.23. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.32 billion, a PE ratio of 11.91 and a beta of 1.02. Veritex has a one year low of $19.79 and a one year high of $31.62.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $109.73 million for the quarter, compared to analysts' expectations of $110.73 million. Veritex had a return on equity of 7.51% and a net margin of 14.12%. During the same period in the previous year, the firm posted $0.53 EPS. On average, research analysts forecast that Veritex will post 2.26 EPS for the current year.

Veritex Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were issued a $0.22 dividend. This is a positive change from Veritex's previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Thursday, May 8th. Veritex's payout ratio is presently 43.14%.

Hedge Funds Weigh In On Veritex

A number of hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its position in shares of Veritex by 9.8% during the 4th quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider's stock valued at $146,000 after acquiring an additional 481 shares during the period. SummerHaven Investment Management LLC grew its position in shares of Veritex by 1.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 37,056 shares of the financial services provider's stock valued at $925,000 after acquiring an additional 536 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Veritex by 7.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,166 shares of the financial services provider's stock valued at $303,000 after acquiring an additional 751 shares during the period. Quarry LP grew its position 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 valued at $42,000 after acquiring an additional 824 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Veritex by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,863 shares of the financial services provider's stock valued at $811,000 after acquiring an additional 992 shares during the period. 88.31% of the stock is currently owned by hedge funds and other 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.