Veritex (NASDAQ:VBTX) Given New $26.00 Price Target at Piper Sandler

Veritex (NASDAQ:VBTX) had its price target upped by Piper Sandler from $25.00 to $26.00 in a report issued on Thursday, Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

Several other brokerages also recently issued reports on VBTX. Stephens restated an equal weight rating and set a $24.00 price objective on shares of Veritex in a research report on Wednesday. Keefe, Bruyette & Woods cut their price target on Veritex from $29.00 to $27.00 and set an outperform rating for the company in a report on Thursday, January 25th. Finally, StockNews.com downgraded Veritex from a hold rating to a sell rating in a report on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $24.38.

Veritex Stock Up 0.9 %

Veritex stock traded up $0.18 during midday trading on Thursday, reaching $20.58. The company’s stock had a trading volume of 62,415 shares, compared to its average volume of 433,607. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.21. Veritex has a fifty-two week low of $14.88 and a fifty-two week high of $24.46. The business has a 50-day simple moving average of $19.86 and a 200-day simple moving average of $20.28. The company has a market cap of $1.12 billion, a P/E ratio of 11.86 and a beta of 1.34.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results 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). Veritex had a return on equity of 8.46% and a net margin of 12.47%. The company had revenue of $191.25 million for the quarter, compared to analysts’ expectations of $109.70 million. During the same period in the prior year, the business earned $0.79 EPS. On average, research analysts expect that Veritex will post 2.24 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Thursday, May 9th. Veritex’s dividend payout ratio is presently 46.51%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in shares of Veritex by 968.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 566,284 shares of the financial services provider’s stock worth $11,603,000 after purchasing an additional 513,284 shares during the period. Victory Capital Management Inc. raised its position in shares of Veritex by 33.1% during the 3rd quarter. Victory Capital Management Inc. now owns 1,722,331 shares of the financial services provider’s stock worth $30,916,000 after purchasing an additional 427,922 shares during the period. Mendon Capital Advisors Corp acquired a new stake in shares of Veritex during the 4th quarter worth approximately $8,144,000. LSV Asset Management raised its position in shares of Veritex by 25.0% during the 3rd quarter. LSV Asset Management now owns 1,591,209 shares of the financial services provider’s stock worth $28,562,000 after purchasing an additional 318,600 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Veritex by 19.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,853,774 shares of the financial services provider’s stock worth $43,139,000 after purchasing an additional 305,980 shares during the period. 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.