Veritex Holdings, Inc. (NASDAQ:VBTX) Given Average Recommendation of “Moderate Buy” by Brokerages

Veritex Holdings, Inc. (NASDAQ:VBTX) has earned an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $33.25.

VBTX has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of Veritex in a research report on Monday, July 14th. They set a “buy” rating for the company. Piper Sandler reissued a “neutral” rating and set a $34.00 target price (up previously from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Veritex in a research report on Saturday, September 27th. Keefe, Bruyette & Woods increased their price target on shares of Veritex from $30.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, July 22nd. Finally, William Blair raised shares of Veritex to an “outperform” rating in a report on Monday, July 14th.

Veritex Price Performance

NASDAQ VBTX opened at $33.50 on Friday. The company has a market cap of $1.83 billion, a P/E ratio of 15.95 and a beta of 1.06. Veritex has a 1 year low of $20.37 and a 1 year high of $34.96. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $33.09 and a 200 day simple moving average of $27.87.

Veritex (NASDAQ:VBTX) last released its earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. The firm had revenue of $109.83 million during the quarter, compared to analyst estimates of $110.91 million. Veritex had a net margin of 14.83% and a return on equity of 7.55%. During the same quarter in the previous year, the business earned $0.52 EPS. On average, sell-side analysts predict that Veritex will post 2.26 EPS for the current year.

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. Veritex’s dividend payout ratio is 41.90%.

Insider Transactions at Veritex

In other Veritex news, Director Fallon William sold 7,220 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $30.68, for a total value of $221,509.60. Following the completion of the sale, the director directly owned 14,191 shares of the company’s stock, valued at $435,379.88. This represents a 33.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Angela Harper sold 47,716 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $32.37, for a total transaction of $1,544,566.92. Following the completion of the sale, the executive vice president directly owned 59,683 shares of the company’s stock, valued at approximately $1,931,938.71. This trade represents a 44.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 320,699 shares of company stock worth $10,361,627. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Veritex

A number of hedge funds and other institutional investors have recently made changes to their positions in VBTX. Squarepoint Ops LLC bought a new position in shares of Veritex during the 4th quarter worth about $432,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Veritex by 20.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 109,844 shares of the financial services provider’s stock worth $2,983,000 after acquiring an additional 18,954 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Veritex during the 4th quarter worth about $6,975,000. GAMMA Investing LLC lifted its holdings in shares of Veritex by 2,502.5% during the 1st quarter. GAMMA Investing LLC now owns 87,445 shares of the financial services provider’s stock worth $2,184,000 after acquiring an additional 84,085 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Veritex by 29.1% during the 1st quarter. Harbor Capital Advisors Inc. now owns 19,448 shares of the financial services provider’s stock worth $486,000 after acquiring an additional 4,383 shares during the period. 88.31% of the stock is owned by institutional investors.

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.