Veritex (NASDAQ:VBTX) Reaches New 1-Year High – Here’s What Happened

Veritex Holdings, Inc. (NASDAQ:VBTX) hit a new 52-week high during trading on Wednesday . The company traded as high as $30.86 and last traded at $30.69, with a volume of 32768 shares. The stock had previously closed at $30.34.

Analyst Upgrades and Downgrades

VBTX has been the subject of a number of research analyst reports. Raymond James raised shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research report on Tuesday, September 17th. Piper Sandler increased their price objective on Veritex from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. DA Davidson raised their price target on shares of Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Stephens increased their price objective on Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, StockNews.com raised Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $29.40.

Veritex Trading Down 1.5 %

The company has a market capitalization of $1.63 billion, a P/E ratio of 19.71 and a beta of 1.36. The business has a fifty day moving average price of $26.36 and a 200 day moving average price of $23.37. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

Veritex (NASDAQ:VBTX) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The company had revenue of $113.17 million during the quarter, compared to analysts’ expectations of $110.22 million. During the same quarter last year, the company posted $0.60 EPS. Veritex’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts expect that Veritex Holdings, Inc. will post 2.17 earnings per share 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.68%. Veritex’s payout ratio is presently 51.28%.

Insider Buying and Selling at Veritex

In other Veritex news, CEO C Malcolm Holland III sold 12,777 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $27.69, for a total transaction of $353,795.13. Following the completion of the sale, the chief executive officer now directly owns 224,132 shares in the company, valued at $6,206,215.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John Sughrue sold 16,820 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.25, for a total value of $508,805.00. Following the transaction, the director now directly owns 62,643 shares of the company’s stock, valued at $1,894,950.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO C Malcolm Holland III sold 12,777 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $27.69, for a total value of $353,795.13. Following the sale, the chief executive officer now directly owns 224,132 shares of the company’s stock, valued at $6,206,215.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

Institutional Trading of Veritex

Several large investors have recently modified their holdings of the stock. Kennedy Capital Management LLC acquired a new stake in shares of Veritex in the 1st quarter valued at about $9,139,000. F M Investments LLC acquired a new stake in Veritex in the 2nd quarter valued at $8,483,000. Assenagon Asset Management S.A. increased its stake in Veritex by 67.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider’s stock valued at $21,248,000 after purchasing an additional 325,569 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Veritex by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock worth $51,566,000 after buying an additional 299,562 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its holdings in shares of Veritex by 16.4% during the first quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock valued at $34,193,000 after buying an additional 235,154 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.