Veritex Holdings Inc (NASDAQ:VBTX) Receives $29.00 Average PT from Analysts

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Veritex Holdings Inc (NASDAQ:VBTX) has been given a consensus rating of “Hold” by the five research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $29.00.

A number of equities analysts recently issued reports on VBTX shares. BidaskClub lowered shares of Veritex from a “sell” rating to a “strong sell” rating in a research report on Friday, August 9th. Zacks Investment Research lowered shares of Veritex from a “buy” rating to a “sell” rating in a research report on Saturday, July 13th. ValuEngine lowered shares of Veritex from a “hold” rating to a “sell” rating in a research report on Monday, June 24th. 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 report on Wednesday, July 24th. Finally, Stephens set a $29.00 target price on shares of Veritex and gave the company a “buy” rating in a research report on Wednesday, September 4th.

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

Several large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Veritex by 5.6% during the 2nd quarter. BlackRock Inc. now owns 7,016,531 shares of the financial services provider’s stock valued at $182,080,000 after purchasing an additional 372,164 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Veritex by 1.6% in the second quarter. Vanguard Group Inc. now owns 2,934,828 shares of the financial services provider’s stock worth $76,158,000 after buying an additional 47,391 shares during the period. Banc Funds Co. LLC boosted its holdings in shares of Veritex by 62.1% in the first quarter. Banc Funds Co. LLC now owns 811,755 shares of the financial services provider’s stock worth $19,661,000 after buying an additional 311,082 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Veritex by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 571,515 shares of the financial services provider’s stock worth $14,830,000 after buying an additional 19,510 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Veritex by 4.9% in the second quarter. Northern Trust Corp now owns 558,341 shares of the financial services provider’s stock worth $14,489,000 after buying an additional 25,979 shares during the period. Institutional investors own 78.14% of the company’s stock.

Shares of VBTX opened at $24.92 on Tuesday. The firm has a 50-day moving average price of $23.95 and a 200 day moving average price of $25.38. The firm has a market capitalization of $1.34 billion, a PE ratio of 13.54 and a beta of 1.57. 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.

Veritex (NASDAQ:VBTX) last announced its earnings results on Monday, July 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.04). The company had revenue of $77.48 million during the quarter, compared to the consensus estimate of $82.50 million. Veritex had a net margin of 18.42% and a return on equity of 9.83%. On average, equities analysts expect that Veritex will post 2.4 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a dividend of $0.125 per share. 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 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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