Veritex Holdings, Inc. (NASDAQ:VBTX) Receives $30.90 Consensus PT from Brokerages

Shares of Veritex Holdings, Inc. (NASDAQ:VBTX) have received a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $30.90.

VBTX has been the subject of several recent research reports. DA Davidson reaffirmed a “buy” rating and issued a $34.00 price target on shares of Veritex in a report on Monday, March 17th. Stephens cut their target price on Veritex from $34.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday, January 30th. Raymond James downgraded shares of Veritex from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $31.00 to $28.00 in a research note on Wednesday, April 2nd. Finally, Hovde Group upgraded shares of Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price objective for the company in a research note on Thursday, January 30th.

Veritex Price Performance

NASDAQ:VBTX opened at $21.24 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.94. Veritex has a one year low of $18.74 and a one year high of $31.62. The company has a fifty day moving average price of $25.38 and a 200 day moving average price of $26.84. The stock has a market cap of $1.16 billion, a P/E ratio of 10.89 and a beta of 1.11.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings data 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%. Analysts anticipate that Veritex will post 2.26 earnings per share for the current year.

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Friday, February 14th. Veritex’s dividend payout ratio (DPR) is 41.03%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in VBTX. Millennium Management LLC increased its position in shares of Veritex by 220.5% during the 4th quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider’s stock worth $26,247,000 after purchasing an additional 664,885 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new stake in Veritex during the fourth quarter worth about $14,644,000. Nuveen Asset Management LLC increased its holdings in shares of Veritex by 57.8% during 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 buying an additional 454,015 shares in the last quarter. Schroder Investment Management Group bought a new position in shares of Veritex in the fourth quarter valued at approximately $11,172,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Veritex in the 4th quarter worth approximately $6,975,000. 88.31% of the stock is owned by institutional investors.

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.