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

Shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $30.25.

VBTX has been the subject of a number of analyst reports. Stephens reissued an "equal weight" rating and issued a $30.00 price target on shares of Veritex in a report on Wednesday, April 23rd. DA Davidson decreased their price target on Veritex from $34.00 to $32.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Hovde Group raised Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 target price for the company in a research note on Thursday, January 30th. Keefe, Bruyette & Woods dropped their target price on Veritex from $33.00 to $30.00 and set a "market perform" rating for the company in a report on Thursday, April 24th. Finally, Raymond James lowered Veritex from a "strong-buy" rating to an "outperform" rating and decreased their price target for the company from $31.00 to $28.00 in a research note on Wednesday, April 2nd.

Veritex Stock Performance

Shares of Veritex stock traded down $0.19 on Friday, reaching $24.47. 136,726 shares of the stock were exchanged, compared to its average volume of 387,312. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. Veritex has a twelve month low of $18.74 and a twelve month high of $31.62. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 12.57 and a beta of 1.01. The business has a 50 day moving average price of $23.42 and a two-hundred day moving average price of $25.92.

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

Veritex Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were issued a $0.22 dividend. The ex-dividend date was Thursday, May 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.60%. This is an increase from Veritex's previous quarterly dividend of $0.20. Veritex's dividend payout ratio is presently 43.14%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Veritex by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 3,931,593 shares of the financial services provider's stock valued at $98,172,000 after purchasing an additional 56,676 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Veritex by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,803,752 shares of the financial services provider's stock worth $76,149,000 after purchasing an additional 125,189 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Veritex by 3.0% during the first quarter. Victory Capital Management Inc. now owns 2,040,856 shares of the financial services provider's stock worth $50,960,000 after purchasing an additional 59,056 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Veritex by 57.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider's stock worth $33,675,000 after purchasing an additional 454,015 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Veritex by 22.7% during the first quarter. Millennium Management LLC now owns 1,185,353 shares of the financial services provider's stock worth $29,598,000 after purchasing an additional 218,962 shares during the last quarter. Hedge funds and other 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.