Brokerages Set Veritex Holdings, Inc. (NASDAQ:VBTX) Target Price at $31.50

Veritex Holdings, Inc. (NASDAQ:VBTX) has been assigned an average rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $31.50.

Several analysts recently issued reports on the company. DA Davidson cut their price objective on Veritex from $36.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Raymond James cut their price objective on Veritex from $32.00 to $31.00 and set a “strong-buy” rating for the company in a report on Thursday, January 30th. Hovde Group raised shares of Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 target price on the stock in a research report on Thursday, January 30th. Finally, Stephens lowered their target price on shares of Veritex from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th.

Veritex Price Performance

Shares of NASDAQ:VBTX opened at $24.45 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. Veritex has a 1 year low of $18.41 and a 1 year high of $31.62. The business has a fifty day simple moving average of $26.00 and a 200 day simple moving average of $26.89. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 12.54 and a beta of 1.36.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.02). Veritex had a return on equity of 7.59% and a net margin of 13.44%. As a group, sell-side analysts predict that Veritex will post 2.26 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Friday, February 14th. Veritex’s dividend payout ratio is currently 41.03%.

Institutional Investors Weigh In On Veritex

Several hedge funds and other institutional investors have recently made changes to their positions in VBTX. USA Financial Formulas acquired a new stake in shares of Veritex in the fourth quarter valued at about $32,000. Quarry LP grew its position in shares of Veritex by 117.0% in the fourth quarter. Quarry LP now owns 1,528 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 824 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Veritex in the fourth quarter valued at about $45,000. GAMMA Investing LLC grew its position in shares of Veritex by 14.7% in the fourth quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 431 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new stake in shares of Veritex in the third quarter valued at about $98,000. 88.31% of the stock is owned by institutional investors and hedge funds.

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.