Piper Sandler Boosts Veritex (NASDAQ:VBTX) Price Target to $27.00

Veritex (NASDAQ:VBTX) had its price objective boosted by Piper Sandler from $26.00 to $27.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on VBTX. Stephens reissued an equal weight rating and set a $24.00 target price on shares of Veritex in a research report on Wednesday, April 24th. StockNews.com raised shares of Veritex from a sell rating to a hold rating in a research report on Wednesday, May 29th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $27.50.

Veritex Stock Up 2.3 %

VBTX stock opened at $25.34 on Thursday. The stock has a market capitalization of $1.38 billion, a P/E ratio of 14.73 and a beta of 1.38. The company has a current ratio of 0.90, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Veritex has a 12 month low of $15.93 and a 12 month high of $25.46. The firm has a 50-day moving average price of $21.22 and a 200-day moving average price of $20.66.

Veritex (NASDAQ:VBTX) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). Veritex had a net margin of 11.52% and a return on equity of 7.97%. The firm had revenue of $106.81 million during the quarter, compared to analyst estimates of $108.39 million. During the same period in the prior year, the company earned $0.64 EPS. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Veritex will post 2.16 EPS for the current fiscal year.

Veritex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Friday, August 9th. Veritex’s dividend payout ratio (DPR) is 46.51%.

Hedge Funds Weigh In On Veritex

A number of large investors have recently modified their holdings of VBTX. Vanguard Group Inc. lifted its holdings in shares of Veritex by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,719,181 shares of the financial services provider’s stock worth $66,759,000 after purchasing an additional 47,336 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of Veritex in the 4th quarter worth $413,000. Mutual of America Capital Management LLC bought a new position in shares of Veritex in the 4th quarter worth $221,000. Louisiana State Employees Retirement System bought a new position in shares of Veritex in the 4th quarter worth $633,000. Finally, Sippican Capital Advisors lifted its holdings in shares of Veritex by 27.2% in the 4th quarter. Sippican Capital Advisors now owns 89,300 shares of the financial services provider’s stock worth $2,078,000 after purchasing an additional 19,085 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors.

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.