Veritex (NASDAQ:VBTX) PT Raised to $29.00 at DA Davidson

Veritex (NASDAQ:VBTX) had its price target lifted by DA Davidson from $27.00 to $29.00 in a research note published on Thursday, Benzinga reports. DA Davidson currently has a buy rating on the financial services provider’s stock.

VBTX has been the topic of several other reports. StockNews.com upgraded Veritex from a sell rating to a hold rating in a research note on Wednesday, May 29th. Piper Sandler raised their price objective on Veritex from $26.00 to $27.00 and gave the stock an overweight rating in a research note on Thursday. Finally, Stephens restated an equal weight rating and set a $24.00 price objective on shares of Veritex in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Veritex presently has a consensus rating of Moderate Buy and an average price target of $27.50.

Veritex Stock Up 2.3 %

Shares of NASDAQ:VBTX opened at $25.34 on Thursday. 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 has a 52-week low of $15.93 and a 52-week high of $25.46. The company has a 50 day moving average of $21.22 and a two-hundred day moving average of $20.66. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 14.73 and a beta of 1.38.

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

Veritex Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, August 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.16%. Veritex’s dividend payout ratio is currently 46.51%.

Institutional Investors Weigh In On Veritex

A number of institutional investors have recently bought and sold shares of VBTX. Charles Schwab Investment Management Inc. lifted its holdings in shares of Veritex by 12.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 647,486 shares of the financial services provider’s stock valued at $15,067,000 after buying an additional 73,700 shares during the last quarter. 1492 Capital Management LLC lifted its holdings in shares of Veritex by 152.9% during the 4th quarter. 1492 Capital Management LLC now owns 208,264 shares of the financial services provider’s stock valued at $4,846,000 after buying an additional 125,912 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Veritex by 767.5% during the 4th quarter. Hsbc Holdings PLC now owns 277,041 shares of the financial services provider’s stock valued at $6,548,000 after buying an additional 245,106 shares during the last quarter. Vanguard Group Inc. lifted its holdings 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 valued at $87,777,000 after buying an additional 52,933 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Veritex by 10.1% during the 4th quarter. Wellington Management Group LLP now owns 547,221 shares of the financial services provider’s stock valued at $12,734,000 after buying an additional 50,406 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

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.