Veritex (NASDAQ:VBTX) Receives “Equal Weight” Rating from Stephens

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

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

Veritex Stock Down 1.1 %

Shares of NASDAQ:VBTX opened at $20.17 on Wednesday. Veritex has a one year low of $14.88 and a one year high of $24.46. The company has a 50 day moving average of $19.86 and a 200-day moving average of $20.30. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 11.73 and a beta of 1.34.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). The firm had revenue of $191.25 million for 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 firm posted $0.79 EPS. On average, sell-side analysts forecast that Veritex will post 2.24 earnings per share for the current 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 issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.97%. Veritex’s dividend payout ratio (DPR) is currently 46.51%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cape Investment Advisory Inc. bought a new position in Veritex in the 4th quarter valued at approximately $52,000. Fifth Third Bancorp lifted its stake in Veritex by 1,319.3% during the 3rd quarter. Fifth Third Bancorp now owns 3,236 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 3,008 shares in the last quarter. GAMMA Investing LLC bought a new position in Veritex during the 4th quarter valued at $60,000. Quest Partners LLC bought a new position in Veritex during the 4th quarter valued at $76,000. Finally, TFO Wealth Partners LLC raised its stake in shares of Veritex by 363,500.0% during 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 during the period. Institutional investors 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.