Veritex (NASDAQ:VBTX) Price Target Increased to $30.00 by Analysts at Piper Sandler

Veritex (NASDAQ:VBTX) had its price objective lifted by Piper Sandler from $27.00 to $30.00 in a report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other brokerages have also recently weighed in on VBTX. DA Davidson reaffirmed a “buy” rating and issued a $29.00 price target on shares of Veritex in a research note on Wednesday, August 28th. Keefe, Bruyette & Woods downgraded shares of Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday. Stephens lifted their price target on shares of Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. StockNews.com cut shares of Veritex from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Raymond James upgraded shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.40.

Veritex Trading Down 1.5 %

Shares of VBTX opened at $27.47 on Thursday. Veritex has a 1-year low of $15.93 and a 1-year high of $28.46. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $25.18 and its 200-day moving average price is $22.54. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 15.97 and a beta of 1.37.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.88%. The business had revenue of $113.17 million during the quarter, compared to analyst estimates of $110.22 million. During the same period last year, the business posted $0.60 earnings per share. Veritex’s quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that Veritex will post 2.13 EPS for the current year.

Veritex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.20 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.80 annualized dividend and a yield of 2.91%. Veritex’s dividend payout ratio (DPR) is presently 46.51%.

Institutional Investors Weigh In On Veritex

Several institutional investors and hedge funds have recently made changes to their positions in VBTX. Meeder Asset Management Inc. bought a new position in Veritex in the 2nd quarter valued at approximately $25,000. Fidelis Capital Partners LLC purchased a new position in shares of Veritex in the first quarter worth $29,000. CWM LLC lifted its holdings in shares of Veritex by 1,302.9% during the second quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 3,101 shares in the last quarter. Point72 DIFC Ltd boosted its position in shares of Veritex by 16.5% during the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock valued at $122,000 after buying an additional 816 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Veritex in the 1st quarter worth about $177,000. Institutional investors own 88.31% of the company’s stock.

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.