Veritex (NASDAQ:VBTX) Rating Lowered to Sell at StockNews.com

StockNews.com cut shares of Veritex (NASDAQ:VBTX) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

Other equities analysts also recently issued reports about the stock. Stephens reaffirmed an equal weight rating and set a $24.00 price objective on shares of Veritex in a report on Wednesday, April 24th. Piper Sandler upped their price objective on Veritex from $25.00 to $26.00 and gave the company an overweight rating in a research note on Thursday, April 25th. Finally, Keefe, Bruyette & Woods cut their target price on Veritex from $29.00 to $27.00 and set an outperform rating for the company in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $24.38.

Veritex Stock Down 0.0 %

Shares of VBTX opened at $20.49 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.95 and a current ratio of 0.96. The company has a 50-day simple moving average of $19.83 and a 200-day simple moving average of $20.37. Veritex has a 52 week low of $14.88 and a 52 week high of $24.46. The firm has a market capitalization of $1.12 billion, a P/E ratio of 11.91 and a beta of 1.33.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06). The firm had revenue of $191.25 million for the quarter, compared to analyst estimates of $109.70 million. Veritex had a return on equity of 8.46% and a net margin of 12.47%. During the same period in the previous year, the business posted $0.79 EPS. On average, equities research analysts expect that Veritex will post 2.2 earnings per share for the current year.

Veritex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.80 annualized dividend and a yield of 3.90%. Veritex’s dividend payout ratio is 46.51%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Ziegler Capital Management LLC bought a new stake in shares of Veritex during the fourth quarter worth $3,443,000. Solutions 4 Wealth Ltd acquired a new stake in Veritex in the fourth quarter worth about $1,308,000. Assenagon Asset Management S.A. acquired a new position in Veritex during the 3rd quarter valued at about $1,012,000. Victory Capital Management Inc. grew its position in shares of Veritex by 33.1% during the 3rd quarter. Victory Capital Management Inc. now owns 1,722,331 shares of the financial services provider’s stock worth $30,916,000 after buying an additional 427,922 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Veritex by 334.0% during the third quarter. AQR Capital Management LLC now owns 242,809 shares of the financial services provider’s stock worth $4,358,000 after buying an additional 186,857 shares during the last quarter. Institutional investors own 88.31% of the company’s stock.

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.