Veritex (VBTX) – Research Analysts’ Weekly Ratings Changes

by · The Markets Daily

A number of firms have modified their ratings and price targets on shares of Veritex (NASDAQ: VBTX) recently:

  • 10/30/2024 – Veritex was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
  • 10/24/2024 – Veritex had its price target raised by analysts at Piper Sandler from $27.00 to $30.00. They now have an “overweight” rating on the stock.
  • 10/24/2024 – Veritex was downgraded by analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating.
  • 10/24/2024 – Veritex had its price target raised by analysts at DA Davidson from $30.00 to $33.00. They now have a “buy” rating on the stock.
  • 10/22/2024 – Veritex was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
  • 9/17/2024 – Veritex was upgraded by analysts at Raymond James from a “market perform” rating to a “strong-buy” rating. They now have a $30.00 price target on the stock.

Veritex Stock Down 0.3 %

VBTX traded down $0.09 on Friday, hitting $26.91. The company had a trading volume of 60,055 shares, compared to its average volume of 403,693. The stock has a fifty day simple moving average of $25.72 and a 200-day simple moving average of $22.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $1.46 billion, a P/E ratio of 17.25 and a beta of 1.37. Veritex Holdings, Inc. has a 52-week low of $17.43 and a 52-week high of $28.46.

Veritex (NASDAQ:VBTX – Get Free Report) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. The company had revenue of $113.17 million during the quarter, compared to analysts’ expectations of $110.22 million. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. As a group, equities analysts expect that Veritex Holdings, Inc. will post 2.14 EPS for the current fiscal year.

Veritex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, November 8th. Veritex’s dividend payout ratio is presently 51.28%.

Hedge Funds Weigh In On Veritex

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

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.

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