Veritex (NASDAQ:VBTX) PT Raised to $27.00

Veritex (NASDAQ:VBTX) had its target price upped by Piper Sandler from $26.00 to $27.00 in a report released on Thursday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other research firms have also commented on VBTX. Stephens reiterated an equal weight rating and set a $24.00 price objective on shares of Veritex in a research note on Wednesday, April 24th. StockNews.com upgraded shares of Veritex from a sell rating to a hold rating in a research note on Wednesday, May 29th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $27.50.

Veritex Price Performance

VBTX opened at $25.34 on Thursday. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 14.73 and a beta of 1.38. Veritex has a fifty-two week low of $15.93 and a fifty-two week high of $25.46. The company’s 50-day moving average price is $21.22 and its 200 day moving average price is $20.66. The company has a quick ratio of 0.95, a current ratio of 0.90 and a debt-to-equity ratio of 0.15.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). Veritex had a net margin of 11.52% and a return on equity of 7.97%. The firm had revenue of $106.81 million during the quarter, compared to analyst estimates of $108.39 million. During the same quarter in the previous year, the business posted $0.64 EPS. Veritex’s revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, sell-side analysts expect that Veritex will post 2.16 earnings per share for the current year.

Veritex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, August 9th. Veritex’s dividend payout ratio is 46.51%.

Institutional Investors Weigh In On Veritex

A number of institutional investors have recently modified their holdings of VBTX. Vanguard Group Inc. boosted its stake in shares of Veritex by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,719,181 shares of the financial services provider’s stock valued at $66,759,000 after buying an additional 47,336 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Veritex during the 4th quarter valued at $413,000. Mutual of America Capital Management LLC acquired a new stake in shares of Veritex during the 4th quarter valued at $221,000. Louisiana State Employees Retirement System acquired a new stake in shares of Veritex during the 4th quarter valued at $633,000. Finally, Sippican Capital Advisors boosted its stake in shares of Veritex by 27.2% during the 4th quarter. Sippican Capital Advisors now owns 89,300 shares of the financial services provider’s stock valued at $2,078,000 after buying an additional 19,085 shares during the period. Institutional investors and hedge funds own 88.31% of the company’s stock.

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.