Veritex (NASDAQ:VBTX) Earns Equal Weight Rating from Stephens

Stephens reiterated their equal weight rating on shares of Veritex (NASDAQ:VBTX) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $24.00 price objective on the financial services provider’s stock.

Other analysts have also issued research reports about the stock. Piper Sandler boosted their price objective on shares of Veritex from $23.50 to $25.00 and gave the stock an overweight rating in a research report on Thursday, January 25th. Keefe, Bruyette & Woods reduced their price target 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. Finally, StockNews.com lowered shares of Veritex from a hold rating to a sell rating in a report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Veritex has an average rating of Hold and an average price target of $24.38.

Veritex Trading Down 1.1 %

Shares of VBTX stock opened at $20.17 on Wednesday. Veritex has a 12-month low of $14.88 and a 12-month high of $24.46. The company has a market capitalization of $1.10 billion, a P/E ratio of 11.73 and a beta of 1.34. The firm has a 50-day moving average price of $19.86 and a 200 day moving average price of $20.30. 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 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). The company had revenue of $191.25 million during 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 prior year, the firm posted $0.79 earnings per share. Research analysts forecast that Veritex will post 2.24 earnings per share for the current fiscal year.

Veritex Dividend Announcement

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

Institutional Trading of Veritex

Several hedge funds have recently bought and sold shares of VBTX. Vanguard Group Inc. raised its stake in shares of Veritex by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 3,772,114 shares of the financial services provider’s stock worth $87,777,000 after purchasing an additional 52,933 shares during the period. Dimensional Fund Advisors LP increased its position in shares of 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 valued at $43,139,000 after buying an additional 305,980 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Veritex by 5.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,816,084 shares of the financial services provider’s stock worth $42,260,000 after purchasing an additional 93,753 shares in the last quarter. LSV Asset Management grew its holdings in shares of 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 in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Veritex by 23.2% during the fourth quarter. First Trust Advisors LP now owns 1,303,041 shares of the financial services provider’s stock worth $30,322,000 after acquiring an additional 245,133 shares in the last quarter. Institutional investors and hedge funds 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.