Veritex (NASDAQ:VBTX) Upgraded to “Hold” 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 morning.

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

Veritex Stock Performance

NASDAQ:VBTX opened at $20.40 on Thursday. Veritex has a 1 year low of $14.88 and a 1 year high of $24.46. The firm has a 50 day moving average of $19.86 and a 200-day moving average of $20.28. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $1.11 billion, a P/E ratio of 11.86 and a beta of 1.34.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share 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 analyst estimates 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 prior year, the business earned $0.79 EPS. As a group, sell-side analysts anticipate that Veritex will post 2.24 EPS for the current fiscal year.

Veritex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Thursday, May 9th. Veritex’s dividend payout ratio (DPR) is 46.51%.

Institutional Investors Weigh In On Veritex

Several institutional investors have recently added to or reduced their stakes in VBTX. SG Americas Securities LLC bought a new stake in Veritex in the 3rd quarter valued at $529,000. Sippican Capital Advisors lifted 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 worth $1,260,000 after buying an additional 50,023 shares in the last quarter. Fifth Third Bancorp lifted 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 worth $58,000 after buying an additional 3,008 shares in the last quarter. Tieton Capital Management LLC lifted 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 worth $3,533,000 after buying an additional 53,298 shares in the last quarter. Finally, Lmcg Investments LLC lifted 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 worth $2,687,000 after buying an additional 638 shares in the last quarter. 88.31% of the stock is owned by 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.