Veritex’s (VBTX) “Equal Weight” Rating Reaffirmed at Stephens

Stephens reaffirmed their equal weight rating on shares of Veritex (NASDAQ:VBTX) in a research note released on Wednesday morning, Benzinga reports. They currently have a $24.00 price objective on the financial services provider’s stock.

Several other equities research analysts have also commented on VBTX. Keefe, Bruyette & Woods dropped their price target on Veritex from $29.00 to $27.00 and set an outperform rating for the company in a research note on Thursday, January 25th. StockNews.com cut shares of Veritex from a hold rating to a sell rating in a research report on Tuesday, April 16th. Finally, Piper Sandler boosted their price objective on shares of Veritex from $23.50 to $25.00 and gave the stock an overweight rating in a research note on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Veritex has an average rating of Hold and an average target price of $24.38.

Veritex Trading Down 1.1 %

Shares of VBTX stock opened at $20.17 on Wednesday. The stock has a market cap of $1.10 billion, a P/E ratio of 11.73 and a beta of 1.34. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.21. Veritex has a fifty-two week low of $14.88 and a fifty-two week high of $24.46. The business has a fifty day simple moving average of $19.86 and a 200-day simple moving average of $20.31.

Veritex (NASDAQ:VBTX) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06). Veritex had a net margin of 12.47% and a return on equity of 8.46%. The firm had revenue of $191.25 million during the quarter, compared to analyst estimates of $109.70 million. During the same period in the previous year, the firm posted $0.79 EPS. On average, analysts forecast that Veritex will post 2.24 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.97%. The ex-dividend date is Thursday, May 9th. Veritex’s dividend payout ratio is presently 46.51%.

Hedge Funds Weigh In On Veritex

A number of hedge funds and other institutional investors have recently modified their holdings of VBTX. Ziegler Capital Management LLC acquired a new stake in Veritex during the 4th quarter worth about $3,443,000. Assenagon Asset Management S.A. purchased a new position in shares of Veritex in the third quarter worth approximately $1,012,000. Victory Capital Management Inc. raised its holdings in shares of Veritex by 33.1% during the third quarter. Victory Capital Management Inc. now owns 1,722,331 shares of the financial services provider’s stock valued at $30,916,000 after acquiring an additional 427,922 shares during the period. AQR Capital Management LLC lifted its position in shares of Veritex by 334.0% in the 3rd quarter. AQR Capital Management LLC now owns 242,809 shares of the financial services provider’s stock valued at $4,358,000 after acquiring an additional 186,857 shares in the last quarter. Finally, Vest Financial LLC acquired a new position in Veritex in the 4th quarter worth approximately $240,000. Institutional investors and hedge funds 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.