Veritex (NASDAQ:VBTX) Upgraded at StockNews.com

StockNews.com upgraded shares of Veritex (NASDAQ:VBTX) from a sell rating to a hold rating in a research report report published on Thursday morning.

A number of other research firms have also weighed in on VBTX. Keefe, Bruyette & Woods decreased their target price on shares of Veritex from $29.00 to $27.00 and set an outperform rating on the stock in a research note on Thursday, January 25th. Piper Sandler lifted their price target on shares of Veritex from $25.00 to $26.00 and gave the company an overweight rating in a research report on Thursday. Finally, Stephens reaffirmed an equal weight rating and set a $24.00 price target on shares of Veritex in a research report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $24.38.

Veritex Trading Down 1.1 %

VBTX opened at $20.17 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.96 and a quick ratio of 0.96. The company’s 50 day simple moving average is $19.86 and its two-hundred day simple moving average is $20.32. Veritex has a 1-year low of $14.88 and a 1-year high of $24.46. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 11.73 and a beta of 1.34.

Veritex (NASDAQ:VBTX) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). Veritex had a return on equity of 8.46% and a net margin of 12.47%. The business had revenue of $191.25 million during the quarter, compared to analysts’ expectations of $109.70 million. During the same period last year, the business earned $0.79 earnings per share. Analysts expect that Veritex will post 2.19 EPS for the current fiscal year.

Veritex Announces Dividend

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

Institutional Trading of Veritex

Institutional investors have recently added to or reduced their stakes in the stock. Ziegler Capital Management LLC acquired a new stake in Veritex in the 4th quarter valued at approximately $3,443,000. Assenagon Asset Management S.A. acquired a new stake in Veritex in the 3rd quarter valued at approximately $1,012,000. Victory Capital Management Inc. increased its holdings in Veritex by 33.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,722,331 shares of the financial services provider’s stock valued at $30,916,000 after purchasing an additional 427,922 shares during the last quarter. AQR Capital Management LLC increased its holdings in 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 purchasing an additional 186,857 shares during the last quarter. Finally, Vest Financial LLC acquired a new stake in Veritex in the 4th quarter valued at approximately $240,000. Institutional investors and hedge funds 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.