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.

Several other brokerages have also recently commented on VBTX. Piper Sandler boosted their target price on shares of Veritex from $25.00 to $26.00 and gave the company an overweight rating in a research report on Thursday. Keefe, Bruyette & Woods reduced their target price on shares of Veritex from $29.00 to $27.00 and set an outperform rating on the stock in a report on Thursday, January 25th. Finally, Stephens reaffirmed an equal weight rating and issued a $24.00 price objective on shares of Veritex in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $24.38.

Veritex Stock Down 1.9 %

Shares of VBTX stock opened at $20.40 on Thursday. Veritex has a 12-month low of $14.88 and a 12-month high of $24.46. The firm has a fifty day moving average of $19.86 and a 200-day moving average of $20.28. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 11.86 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 (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). The firm had revenue of $191.25 million during the quarter, compared to analyst estimates of $109.70 million. Veritex had a net margin of 12.47% and a return on equity of 8.46%. During the same quarter in the prior year, the business earned $0.79 EPS. As a group, equities research analysts predict that Veritex will post 2.24 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.80 annualized dividend and a yield of 3.92%. Veritex’s payout ratio is 46.51%.

Hedge Funds Weigh In On Veritex

Several institutional investors have recently added to or reduced their stakes in VBTX. Assenagon Asset Management S.A. grew its position in Veritex by 968.5% during the first quarter. Assenagon Asset Management S.A. now owns 566,284 shares of the financial services provider’s stock valued at $11,603,000 after buying an additional 513,284 shares during the period. Victory Capital Management Inc. boosted its position in 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 worth $30,916,000 after purchasing an additional 427,922 shares during the period. Mendon Capital Advisors Corp bought a new position in Veritex during the fourth quarter worth about $8,144,000. LSV Asset Management boosted its position in Veritex by 25.0% during the third quarter. LSV Asset Management now owns 1,591,209 shares of the financial services provider’s stock worth $28,562,000 after purchasing an additional 318,600 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Veritex by 19.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,853,774 shares of the financial services provider’s stock worth $43,139,000 after purchasing an additional 305,980 shares during the period. 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.