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

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six analysts that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $30.25.

Several research analysts have recently commented on VBTX shares. Stephens reiterated an "equal weight" rating and set a $30.00 target price on shares of Veritex in a research note on Wednesday, April 23rd. Raymond James cut shares of Veritex from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the stock from $31.00 to $28.00 in a research report on Wednesday, April 2nd. Hovde Group raised shares of Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 price objective on the stock in a research report on Thursday, January 30th. Keefe, Bruyette & Woods reduced their target price on shares of Veritex from $33.00 to $30.00 and set a "market perform" rating for the company in a report on Thursday, April 24th. Finally, DA Davidson lowered their price target on shares of Veritex from $34.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of VBTX. Barclays PLC increased its holdings in Veritex by 63.8% in the 3rd quarter. Barclays PLC now owns 117,609 shares of the financial services provider's stock valued at $3,095,000 after buying an additional 45,787 shares during the period. GAMMA Investing LLC raised its position in 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 in the last quarter. JPMorgan Chase & Co. lifted its stake in Veritex by 24.1% during the third quarter. JPMorgan Chase & Co. now owns 631,372 shares of the financial services provider's stock worth $16,618,000 after purchasing an additional 122,809 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Veritex by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 264,107 shares of the financial services provider's stock valued at $7,173,000 after purchasing an additional 7,882 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Veritex in the 4th quarter valued at $276,000. Institutional investors and hedge funds own 88.31% of the company's stock.

Veritex Price Performance

Shares of NASDAQ VBTX opened at $23.40 on Wednesday. Veritex has a fifty-two week low of $18.74 and a fifty-two week high of $31.62. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 12.00 and a beta of 1.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.94. The business has a 50-day moving average of $23.69 and a 200-day moving average of $26.38.

Veritex (NASDAQ:VBTX - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Veritex had a net margin of 13.44% and a return on equity of 7.59%. The company had revenue of $109.73 million for the quarter, compared to analyst estimates of $110.73 million. During the same period in the previous year, the business earned $0.53 EPS. As a group, sell-side analysts predict that Veritex will post 2.26 earnings per share for the current fiscal year.

Veritex Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be issued a dividend of $0.22 per share. This is a positive change from Veritex's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Thursday, May 8th. Veritex's dividend payout ratio is 43.14%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.