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

Stephens reaffirmed their equal weight rating on shares of Veritex (NASDAQ:VBTX) in a report issued on Wednesday, Benzinga reports. They currently have a $24.00 price objective on the financial services provider’s stock.

Several other brokerages have also recently weighed in on VBTX. Keefe, Bruyette & Woods dropped their price target on shares of Veritex from $29.00 to $27.00 and set an outperform rating for the company in a research report on Thursday, January 25th. StockNews.com lowered shares of Veritex from a hold rating to a sell rating in a report on Tuesday, April 16th. Finally, Piper Sandler boosted their price target on Veritex from $23.50 to $25.00 and gave the company an overweight rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Veritex currently has an average rating of Hold and an average price target of $24.38.

Veritex Stock Down 1.1 %

VBTX opened at $20.17 on Wednesday. The company has a market cap of $1.10 billion, a P/E ratio of 11.73 and a beta of 1.34. Veritex has a 12 month low of $14.88 and a 12 month high of $24.46. The business’s 50-day moving average price is $19.86 and its 200-day moving average price is $20.31. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.21.

Veritex (NASDAQ:VBTX) last announced 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 company had revenue of $191.25 million during the quarter, compared to analysts’ expectations of $109.70 million. Veritex had a return on equity of 8.46% and a net margin of 12.47%. During the same period last year, the firm earned $0.79 earnings per share. On average, equities analysts expect that Veritex will post 2.24 EPS for the current year.

Veritex Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Thursday, May 9th. Veritex’s dividend payout ratio is currently 46.51%.

Institutional Trading of Veritex

Several institutional investors and hedge funds have recently bought and sold shares of VBTX. Cape Investment Advisory Inc. purchased a new position in shares of Veritex during the fourth quarter valued at approximately $52,000. Fifth Third Bancorp raised its stake in Veritex by 1,319.3% during the third 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 during the last quarter. GAMMA Investing LLC bought a new stake in Veritex in the fourth quarter worth $60,000. Quest Partners LLC purchased a new stake in shares of Veritex in the fourth quarter worth $76,000. Finally, TFO Wealth Partners LLC grew its stake in shares of Veritex by 363,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 3,636 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 3,635 shares during the last quarter. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

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.