Keefe, Bruyette & Woods Cuts Veritex (NASDAQ:VBTX) Price Target to $30.00

by · The Markets Daily

Veritex (NASDAQ:VBTX – Free Report) had its price objective lowered by Keefe, Bruyette & Woods from $33.00 to $30.00 in a report published on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. DA Davidson lowered their price objective on shares of Veritex from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday. Stephens reaffirmed an “equal weight” rating and set a $30.00 target price on shares of Veritex in a report on Wednesday. Raymond James downgraded Veritex from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $31.00 to $28.00 in a report on Wednesday, April 2nd. Finally, Hovde Group upgraded Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price objective for the company in a research note on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.25.

View Our Latest Stock Analysis on VBTX

Veritex Stock Up 0.7 %

Shares of Veritex stock opened at $23.30 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $23.81 and a 200 day moving average price of $26.42. Veritex has a fifty-two week low of $18.74 and a fifty-two week high of $31.62. The firm has a market cap of $1.27 billion, a P/E ratio of 11.95 and a beta of 1.11.

Veritex (NASDAQ:VBTX – Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $109.73 million for the quarter, compared to analyst estimates of $110.73 million. Veritex had a return on equity of 7.59% and a net margin of 13.44%. During the same period in the prior year, the company posted $0.53 EPS. On average, sell-side 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. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $0.88 annualized dividend and a yield of 3.78%. This is an increase from Veritex’s previous quarterly dividend of $0.20. Veritex’s payout ratio is presently 41.03%.

Hedge Funds Weigh In On Veritex

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC lifted its holdings in shares of Veritex by 220.5% in the fourth quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider’s stock valued at $26,247,000 after buying an additional 664,885 shares during the period. Silvercrest Asset Management Group LLC acquired a new stake in Veritex during the fourth quarter valued at approximately $14,644,000. Nuveen Asset Management LLC boosted its holdings in Veritex by 57.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider’s stock worth $33,675,000 after buying an additional 454,015 shares in the last quarter. Schroder Investment Management Group acquired a new position in Veritex in the fourth quarter worth approximately $11,172,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Veritex in the fourth quarter valued at $6,975,000. Institutional investors own 88.31% of the company’s stock.

Veritex Company Profile

(Get Free Report)

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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