Veritex (NASDAQ:VBTX) Price Target Raised to $26.00

Veritex (NASDAQ:VBTX) had its target price raised by Piper Sandler from $25.00 to $26.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

VBTX has been the subject of several other reports. Keefe, Bruyette & Woods decreased their target price on shares of Veritex from $29.00 to $27.00 and set an outperform rating for the company in a research report on Thursday, January 25th. Stephens reissued an equal weight rating and set a $24.00 target price on shares of Veritex in a research report on Wednesday. Finally, StockNews.com downgraded shares of Veritex from a hold rating to a sell rating in a research report on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $24.38.

Veritex Stock Up 0.9 %

Shares of NASDAQ VBTX traded up $0.18 during trading on Thursday, hitting $20.58. 62,415 shares of the company traded hands, compared to its average volume of 433,607. The business’s fifty day moving average is $19.86 and its 200 day moving average is $20.28. Veritex has a fifty-two week low of $14.88 and a fifty-two week high of $24.46. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 11.86 and a beta of 1.34. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.96 and a current ratio of 0.96.

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

Veritex Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Thursday, May 9th. Veritex’s dividend payout ratio is currently 46.51%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of VBTX. Cape Investment Advisory Inc. purchased a new stake in Veritex in the 4th quarter worth approximately $52,000. GAMMA Investing LLC purchased a new stake in Veritex in the 4th quarter worth approximately $60,000. Fifth Third Bancorp lifted its stake in Veritex by 1,319.3% in the 3rd quarter. Fifth Third Bancorp now owns 3,236 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 3,008 shares in the last quarter. Quest Partners LLC purchased a new stake in Veritex in the 4th quarter worth approximately $76,000. Finally, TFO Wealth Partners LLC lifted its stake in Veritex by 363,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,636 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 3,635 shares in the last quarter. 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.