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 report published on Thursday.

A number of other research analysts have also commented on the company. Keefe, Bruyette & Woods lowered their price target on Veritex from $29.00 to $27.00 and set an outperform rating for the company in a research report on Thursday, January 25th. Piper Sandler increased their target price on Veritex from $25.00 to $26.00 and gave the stock an overweight rating in a research report on Thursday. Finally, Stephens reissued an equal weight rating and issued a $24.00 target price on shares of Veritex in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $24.38.

Veritex Trading Down 1.1 %

VBTX opened at $20.17 on Thursday. The business has a 50 day simple moving average of $19.86 and a two-hundred day simple moving average of $20.32. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 11.73 and a beta of 1.34. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.96 and a quick ratio of 0.96. Veritex has a one year low of $14.88 and a one year high of $24.46.

Veritex (NASDAQ:VBTX) last released 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 business had revenue of $191.25 million for the quarter, compared to the consensus estimate of $109.70 million. Veritex had a net margin of 12.47% and a return on equity of 8.46%. During the same period in the previous year, the company earned $0.79 EPS. Analysts predict that Veritex will post 2.19 EPS for the current year.

Veritex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Thursday, May 9th. Veritex’s dividend payout ratio (DPR) is presently 46.51%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VBTX. SG Americas Securities LLC bought a new position in Veritex during the 3rd quarter valued at approximately $529,000. Sippican Capital Advisors increased its position in Veritex by 247.7% during the 3rd quarter. Sippican Capital Advisors now owns 70,215 shares of the financial services provider’s stock valued at $1,260,000 after buying an additional 50,023 shares in the last quarter. Fifth Third Bancorp increased its position 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 buying an additional 3,008 shares in the last quarter. Tieton Capital Management LLC increased its position in Veritex by 37.1% during the 3rd quarter. Tieton Capital Management LLC now owns 196,797 shares of the financial services provider’s stock valued at $3,533,000 after buying an additional 53,298 shares in the last quarter. Finally, Lmcg Investments LLC increased its position in Veritex by 0.4% during the 3rd quarter. Lmcg Investments LLC now owns 149,671 shares of the financial services provider’s stock valued at $2,687,000 after buying an additional 638 shares in the last quarter. 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.