Brokerages Set Veritex Holdings, Inc. (NASDAQ:VBTX) Price Target at $30.25

Shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $30.25.

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

Hedge Funds Weigh In On Veritex

Hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of Veritex in the 1st quarter valued at approximately $28,000. Opal Wealth Advisors LLC bought a new stake in Veritex during the 1st quarter worth approximately $31,000. Quarry LP grew its holdings in 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 acquiring an additional 824 shares during the last quarter. R Squared Ltd bought a new stake in Veritex during the 4th quarter worth approximately $45,000. Finally, KBC Group NV boosted its stake in shares of Veritex by 73.5% in the 4th quarter. KBC Group NV now owns 3,826 shares of the financial services provider's stock valued at $104,000 after purchasing an additional 1,621 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Stock Up 0.5%

Shares of NASDAQ:VBTX traded up $0.12 during midday trading on Friday, hitting $24.43. The stock had a trading volume of 282,204 shares, compared to its average volume of 388,305. The business's 50-day simple moving average is $23.40 and its 200-day simple moving average is $25.87. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.33 billion, a P/E ratio of 12.53 and a beta of 1.01. Veritex has a 12 month low of $19.27 and a 12 month high of $31.62.

Veritex (NASDAQ:VBTX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The business had revenue of $109.73 million during the quarter, compared to the consensus estimate of $110.73 million. Veritex had a net margin of 13.44% and a return on equity of 7.59%. During the same quarter in the previous year, the firm posted $0.53 EPS. On average, sell-side analysts forecast that Veritex will post 2.26 earnings per share for the current fiscal year.

Veritex Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were given a $0.22 dividend. The ex-dividend date was Thursday, May 8th. This is a boost from Veritex's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 3.60%. Veritex's payout ratio is presently 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.