Veritex (NASDAQ:VBTX) PT Raised to $27.00

Veritex (NASDAQ:VBTX) had its target price boosted by Piper Sandler from $26.00 to $27.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research analysts also recently issued reports on the stock. Stephens restated an equal weight rating and set a $24.00 price objective on shares of Veritex in a report on Wednesday, April 24th. StockNews.com upgraded shares of Veritex from a sell rating to a hold rating in a report on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $27.50.

Veritex Stock Up 3.4 %

Veritex stock opened at $24.78 on Thursday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 14.41 and a beta of 1.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.95. Veritex has a fifty-two week low of $15.93 and a fifty-two week high of $25.22. The firm has a fifty day moving average price of $21.14 and a two-hundred day moving average price of $20.66.

Veritex (NASDAQ:VBTX) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Veritex had a return on equity of 7.97% and a net margin of 11.52%. The firm had revenue of $106.81 million for the quarter, compared to analyst estimates of $108.39 million. During the same period in the prior year, the firm earned $0.64 EPS. The firm’s revenue was down 6.7% on a year-over-year basis. As a group, analysts forecast that Veritex will post 2.16 earnings per share for the current year.

Veritex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.23%. Veritex’s payout ratio is currently 46.51%.

Institutional Trading of Veritex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its stake in Veritex by 12.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 647,486 shares of the financial services provider’s stock valued at $15,067,000 after acquiring an additional 73,700 shares during the period. 1492 Capital Management LLC grew its stake in Veritex by 152.9% during the fourth quarter. 1492 Capital Management LLC now owns 208,264 shares of the financial services provider’s stock worth $4,846,000 after buying an additional 125,912 shares during the last quarter. Hsbc Holdings PLC grew its stake in Veritex by 767.5% during the fourth quarter. Hsbc Holdings PLC now owns 277,041 shares of the financial services provider’s stock worth $6,548,000 after buying an additional 245,106 shares during the last quarter. Vanguard Group Inc. grew its stake in Veritex by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 3,772,114 shares of the financial services provider’s stock worth $87,777,000 after buying an additional 52,933 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Veritex by 10.1% during the fourth quarter. Wellington Management Group LLP now owns 547,221 shares of the financial services provider’s stock worth $12,734,000 after buying an additional 50,406 shares during the last quarter. Institutional investors own 88.31% of the company’s stock.

About Veritex

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.