Short Interest in Veritex Holdings, Inc. (NASDAQ:VBTX) Drops By 31.6%

Veritex Holdings, Inc. (NASDAQ:VBTX) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totalling 950,300 shares, a drop of 31.6% from the July 15th total of 1,390,000 shares. Based on an average daily volume of 371,700 shares, the days-to-cover ratio is presently 2.6 days.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. DA Davidson upped their price objective on Veritex from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Piper Sandler increased their price target on Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Stephens lifted their price objective on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Finally, StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. bought a new position in shares of Veritex during the 2nd quarter worth approximately $25,000. Fidelis Capital Partners LLC acquired a new position in shares of Veritex during the first quarter worth $29,000. Cape Investment Advisory Inc. purchased a new stake in shares of Veritex during the 4th quarter valued at $52,000. GAMMA Investing LLC acquired a new stake in shares of Veritex in the 4th quarter worth $60,000. Finally, Quest Partners LLC purchased a new position in Veritex during the 4th quarter worth $76,000. 88.31% of the stock is owned by institutional investors.

Veritex Trading Up 4.0 %

Veritex stock traded up $0.87 during trading hours on Thursday, hitting $22.83. The company had a trading volume of 335,272 shares, compared to its average volume of 410,539. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $1.24 billion, a P/E ratio of 13.27 and a beta of 1.38. The company has a 50-day moving average price of $21.85 and a two-hundred day moving average price of $20.75. Veritex has a 1 year low of $15.93 and a 1 year high of $25.84.

Veritex (NASDAQ:VBTX) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). The firm had revenue of $106.81 million during the quarter, compared to analysts’ expectations of $108.39 million. Veritex had a return on equity of 7.97% and a net margin of 11.52%. Veritex’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, sell-side analysts anticipate that Veritex will post 2.15 earnings per share for the current year.

Veritex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, August 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.50%. Veritex’s dividend payout ratio is currently 46.51%.

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.