Veritex (NASDAQ:VBTX) Downgraded by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods downgraded shares of Veritex (NASDAQ:VBTX) from an outperform rating to a market perform rating in a report issued on Thursday, Marketbeat Ratings reports.

Several other equities research analysts have also issued reports on the stock. Piper Sandler raised their price target on shares of Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. DA Davidson reissued a “buy” rating and set a $29.00 price objective on shares of Veritex in a report on Wednesday, August 28th. StockNews.com lowered Veritex from a “hold” rating to a “sell” rating in a research note on Tuesday. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research note on Tuesday, September 17th. Finally, Stephens boosted their price objective on Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.40.

Veritex Stock Down 1.5 %

Shares of NASDAQ:VBTX opened at $27.47 on Thursday. Veritex has a 1 year low of $15.93 and a 1 year high of $28.46. The company has a market capitalization of $1.50 billion, a PE ratio of 15.97 and a beta of 1.37. The business has a fifty day moving average price of $25.18 and a two-hundred day moving average price of $22.54. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.88%. The company had revenue of $113.17 million during the quarter, compared to analyst estimates of $110.22 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts forecast that Veritex will post 2.13 earnings per share for the current year.

Veritex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.91%. Veritex’s payout ratio is 46.51%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Kennedy Capital Management LLC purchased a new stake in shares of Veritex in the first quarter worth about $9,139,000. F M Investments LLC bought a new stake in Veritex during the 2nd quarter worth approximately $8,483,000. Assenagon Asset Management S.A. lifted its stake in Veritex by 67.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider’s stock worth $21,248,000 after purchasing an additional 325,569 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Veritex by 14.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock valued at $51,566,000 after purchasing an additional 299,562 shares during the period. Finally, Westwood Holdings Group Inc. grew its position in shares of Veritex by 16.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock valued at $34,193,000 after purchasing an additional 235,154 shares in the last quarter. 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.