Veritex (NASDAQ:VBTX) Receives “Buy” Rating from DA Davidson

DA Davidson reissued their buy rating on shares of Veritex (NASDAQ:VBTX) in a research report sent to investors on Monday,Benzinga reports. They currently have a $34.00 price target on the financial services provider’s stock.

Other research analysts have also issued research reports about the company. Stephens decreased their target price on Veritex from $34.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday, January 30th. Raymond James reduced their price objective on Veritex from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research report on Thursday, January 30th. Finally, Hovde Group upgraded Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 target price on the stock in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.50.

Veritex Trading Up 0.1 %

NASDAQ VBTX opened at $24.47 on Monday. Veritex has a 1-year low of $18.41 and a 1-year high of $31.62. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average of $25.96 and a 200-day moving average of $26.91. The firm has a market cap of $1.33 billion, a PE ratio of 12.55 and a beta of 1.36.

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

Veritex Dividend Announcement

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

Institutional Investors Weigh In On Veritex

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Veritex by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 3,874,917 shares of the financial services provider’s stock worth $105,243,000 after acquiring an additional 39,746 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Veritex by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,803,752 shares of the financial services provider’s stock worth $76,149,000 after acquiring an additional 125,189 shares in the last quarter. Geode Capital Management LLC grew its position in Veritex by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider’s stock worth $34,064,000 after acquiring an additional 18,185 shares in the last quarter. Nuveen Asset Management LLC grew its position in Veritex by 57.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider’s stock worth $33,675,000 after acquiring an additional 454,015 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Veritex by 220.5% during the fourth quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider’s stock valued at $26,247,000 after buying an additional 664,885 shares during the period. 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.