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

Veritex Holdings, Inc. (NASDAQ:VBTX) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $33.25.

VBTX has been the topic of several research analyst reports. DA Davidson boosted their price target on shares of Veritex from $32.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods boosted their target price on Veritex from $30.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 22nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Veritex in a report on Wednesday, October 8th.

Veritex Trading Up 1.0%

VBTX stock opened at $30.26 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.96. Veritex has a 1-year low of $20.37 and a 1-year high of $34.96. The business has a 50 day simple moving average of $31.94 and a two-hundred day simple moving average of $29.54. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 14.41 and a beta of 1.06.

Veritex (NASDAQ:VBTX) last released its earnings results on Thursday, March 3rd. The financial services provider reported $0.64 EPS for the quarter. The firm had revenue of $64.03 million for the quarter. Veritex had a net margin of 14.83% and a return on equity of 7.55%. Research analysts anticipate that Veritex will post 2.26 EPS for the current fiscal year.

Veritex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 dividend yield of 2.9%. Veritex’s dividend payout ratio (DPR) is 41.90%.

Insider Buying and Selling at Veritex

In other Veritex news, Director Arcilia Acosta sold 3,617 shares of Veritex stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $34.33, for a total value of $124,171.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Angela Harper sold 2,527 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $33.68, for a total transaction of $85,109.36. Following the completion of the sale, the executive vice president owned 53,991 shares in the company, valued at approximately $1,818,416.88. This trade represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its stake in Veritex by 50.6% during the second quarter. Smartleaf Asset Management LLC now owns 1,042 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 350 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Veritex in the 1st quarter worth approximately $28,000. EverSource Wealth Advisors LLC increased its position in shares of Veritex by 260.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,571 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,135 shares during the last quarter. GAMMA Investing LLC raised its holdings in Veritex by 28.9% during the 2nd quarter. GAMMA Investing LLC now owns 4,513 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,011 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Veritex by 47.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,145 shares of the financial services provider’s stock valued at $173,000 after buying an additional 1,651 shares during the period. Hedge funds and other 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.