Veritex Holdings Inc (NASDAQ:VBTX) Receives $29.00 Consensus Price Target from Analysts

Shares of Veritex Holdings Inc (NASDAQ:VBTX) have earned an average rating of “Hold” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating and two have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $29.00.

Several equities research analysts have issued reports on VBTX shares. ValuEngine downgraded shares of Veritex from a “hold” rating to a “sell” rating in a research note on Monday, June 24th. BidaskClub downgraded shares of Veritex from a “sell” rating to a “strong sell” rating in a research note on Friday, August 9th. Raymond James decreased their target price on shares of Veritex from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Zacks Investment Research downgraded shares of Veritex from a “buy” rating to a “sell” rating in a research note on Saturday, July 13th. Finally, Stephens set a $29.00 target price on shares of Veritex and gave the company a “buy” rating in a research note on Wednesday, September 4th.

In other news, CEO C Malcolm Holland III sold 2,500 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $25.88, for a total value of $64,700.00. Following the completion of the transaction, the chief executive officer now directly owns 101,777 shares in the company, valued at $2,633,988.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Angela Harper sold 1,800 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $25.90, for a total transaction of $46,620.00. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of VBTX. BNP Paribas Arbitrage SA boosted its stake in Veritex by 131,057.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,181 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 9,174 shares during the last quarter. Bank of Montreal Can boosted its stake in Veritex by 142.0% during the 1st quarter. Bank of Montreal Can now owns 1,929 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 1,132 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Veritex by 24.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,736 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 533 shares during the last quarter. Rhumbline Advisers boosted its stake in Veritex by 93.0% during the 1st quarter. Rhumbline Advisers now owns 129,753 shares of the financial services provider’s stock valued at $3,143,000 after acquiring an additional 62,515 shares during the last quarter. Finally, Comerica Bank boosted its stake in Veritex by 91.4% during the 1st quarter. Comerica Bank now owns 44,992 shares of the financial services provider’s stock valued at $1,136,000 after acquiring an additional 21,487 shares during the last quarter. Hedge funds and other institutional investors own 78.14% of the company’s stock.

VBTX opened at $24.92 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.49. Veritex has a 52-week low of $20.34 and a 52-week high of $30.98. The company has a 50 day moving average of $23.95 and a two-hundred day moving average of $25.38. The company has a market cap of $1.34 billion, a P/E ratio of 13.54 and a beta of 1.57.

Veritex (NASDAQ:VBTX) last released its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.04). Veritex had a return on equity of 9.83% and a net margin of 18.42%. The business had revenue of $77.48 million for the quarter, compared to analysts’ expectations of $82.50 million. Research analysts anticipate that Veritex will post 2.4 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.01%. Veritex’s dividend payout ratio (DPR) is presently 27.17%.

Veritex Company Profile

Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.

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