Veritex’s (VBTX) “Equal Weight” Rating Reiterated at Stephens

Stephens reaffirmed their equal weight rating on shares of Veritex (NASDAQ:VBTX) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $30.00 target price on the financial services provider’s stock.

VBTX has been the topic of a number of other reports. DA Davidson reaffirmed a “buy” rating and issued a $34.00 target price on shares of Veritex in a research report on Monday, March 17th. Raymond James lowered Veritex from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $31.00 to $28.00 in a report on Wednesday, April 2nd. Finally, Hovde Group raised Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 target price for the company in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.25.

Veritex Stock Up 0.7 %

Shares of NASDAQ VBTX opened at $23.30 on Wednesday. The business has a 50-day moving average of $23.81 and a two-hundred day moving average of $26.41. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 11.95 and a beta of 1.11. Veritex has a 1 year low of $18.74 and a 1 year high of $31.62. 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 (NASDAQ:VBTX) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $109.73 million during the quarter, compared to analysts’ expectations of $110.73 million. Veritex had a return on equity of 7.59% and a net margin of 13.44%. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, analysts forecast that Veritex will post 2.26 earnings per share for the current fiscal year.

Veritex Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be paid a dividend of $0.22 per share. This is an increase from Veritex’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $0.88 annualized dividend and a dividend yield of 3.78%. Veritex’s dividend payout ratio is 41.03%.

Hedge Funds Weigh In On Veritex

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in Veritex by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 431 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of Veritex by 9.8% during the fourth quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 481 shares during the period. SummerHaven Investment Management LLC grew its position in Veritex by 1.5% in the 1st quarter. SummerHaven Investment Management LLC now owns 37,056 shares of the financial services provider’s stock valued at $925,000 after buying an additional 536 shares during the last quarter. Franklin Resources Inc. increased its stake in Veritex by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 73,421 shares of the financial services provider’s stock valued at $1,920,000 after buying an additional 701 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Veritex by 7.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,166 shares of the financial services provider’s stock worth $303,000 after buying an additional 751 shares during the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.

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.