Veritex (NASDAQ:VBTX) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Veritex Holdings, Inc. (NASDAQ:VBTX)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.77 and traded as low as $25.55. Veritex shares last traded at $25.71, with a volume of 323,982 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Piper Sandler upped their price target on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods cut Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. DA Davidson boosted their price objective on Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Raymond James raised shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price on the stock in a research note on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Veritex presently has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Veritex Stock Down 0.6 %

The business has a fifty day moving average of $28.74 and a 200 day moving average of $25.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.40 billion, a P/E ratio of 16.48 and a beta of 1.38.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The company had revenue of $113.17 million during the quarter, compared to analysts’ expectations of $110.22 million. During the same period in the prior year, the business posted $0.60 EPS. Veritex’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts predict that Veritex Holdings, Inc. will post 2.17 EPS for the current year.

Veritex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.11%. Veritex’s dividend payout ratio is 51.28%.

Insider Activity

In other Veritex news, Director John Sughrue sold 16,820 shares of Veritex stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.25, for a total value of $508,805.00. Following the transaction, the director now owns 62,643 shares of the company’s stock, valued at approximately $1,894,950.75. The trade was a 21.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO C Malcolm Holland III sold 12,777 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $27.69, for a total transaction of $353,795.13. Following the sale, the chief executive officer now directly owns 224,132 shares of the company’s stock, valued at $6,206,215.08. This represents a 5.39 % decrease in their position. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Veritex

Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in Veritex by 14.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock worth $51,566,000 after purchasing an additional 299,562 shares in the last quarter. Victory Capital Management Inc. raised its position in Veritex by 0.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,978,219 shares of the financial services provider’s stock valued at $52,067,000 after buying an additional 9,611 shares during the last quarter. Geode Capital Management LLC raised its position in Veritex by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider’s stock valued at $34,064,000 after buying an additional 18,185 shares during the last quarter. American Century Companies Inc. lifted its stake in Veritex by 11.7% in the 2nd quarter. American Century Companies Inc. now owns 827,202 shares of the financial services provider’s stock valued at $17,446,000 after acquiring an additional 86,327 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Veritex by 67.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider’s stock worth $21,248,000 after acquiring an additional 325,569 shares during the last quarter. 88.31% of the stock is owned by institutional investors.

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.