Veritex (NASDAQ:VBTX) Sees Large Volume Increase - Still a Buy?

Veritex Holdings, Inc. (NASDAQ:VBTX - Get Free Report) saw strong trading volume on Tuesday . 793,003 shares were traded during trading, an increase of 81% from the previous session's volume of 438,609 shares.The stock last traded at $32.78 and had previously closed at $32.82.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Stephens restated an "equal weight" rating and set a $30.00 target price on shares of Veritex in a research report on Wednesday, April 23rd. William Blair upgraded shares of Veritex to an "outperform" rating in a research report on Monday. Keefe, Bruyette & Woods decreased their target price on shares of Veritex from $33.00 to $30.00 and set a "market perform" rating on the stock in a research report on Thursday, April 24th. DA Davidson cut 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. Finally, The Goldman Sachs Group began coverage on shares of Veritex in a report on Monday. They set a "buy" rating on the stock. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Veritex currently has an average rating of "Moderate Buy" and an average target price of $30.92.

Veritex Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $1.74 billion, a P/E ratio of 15.72 and a beta of 1.03. The stock's 50 day simple moving average is $25.48 and its 200 day simple moving average is $25.07.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The business had revenue of $109.73 million for the quarter, compared to the consensus estimate of $110.73 million. Veritex had a net margin of 14.12% and a return on equity of 7.51%. During the same period in the prior year, the firm earned $0.53 EPS. As a group, analysts expect that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were paid a $0.22 dividend. This is an increase from Veritex's previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Thursday, May 8th. Veritex's dividend payout ratio is currently 43.14%.

Hedge Funds Weigh In On Veritex

A number of hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new stake in shares of Veritex in the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Veritex in the 1st quarter worth approximately $31,000. Quarry LP lifted its position in shares of Veritex by 117.0% in the 4th quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock worth $42,000 after purchasing an additional 824 shares during the period. GAMMA Investing LLC lifted its position in shares of Veritex by 28.9% in the 2nd quarter. GAMMA Investing LLC now owns 4,513 shares of the financial services provider's stock worth $118,000 after purchasing an additional 1,011 shares during the period. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Veritex in the 4th quarter worth approximately $143,000. 88.31% of the stock is currently 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.