Veritex (NASDAQ:VBTX) Reaches New 12-Month Low at $26.87

Veritex Holdings, Inc. (NASDAQ:VBTXGet Rating) shares hit a new 52-week low on Wednesday . The stock traded as low as $26.87 and last traded at $27.04, with a volume of 11062 shares changing hands. The stock had previously closed at $29.00.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VBTX. Raymond James cut Veritex from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $43.00 to $38.00 in a research report on Thursday, July 7th. StockNews.com cut Veritex from a “hold” rating to a “sell” rating in a research report on Thursday, July 28th. Stephens cut Veritex from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $36.00 to $32.00 in a research report on Wednesday. Finally, Piper Sandler decreased their price target on Veritex to $39.00 in a research report on Monday, July 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $38.25.

Veritex Stock Performance

The business has a fifty day simple moving average of $30.74 and a 200-day simple moving average of $33.66. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.86. The firm has a market cap of $1.52 billion, a P/E ratio of 10.27 and a beta of 1.45.

Veritex (NASDAQ:VBTXGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.14). Veritex had a return on equity of 10.32% and a net margin of 35.73%. The firm had revenue of $94.86 million during the quarter, compared to the consensus estimate of $98.34 million. During the same quarter last year, the company posted $0.60 EPS. Veritex’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, sell-side analysts predict that Veritex Holdings, Inc. will post 2.86 EPS for the current fiscal year.

Veritex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.80 annualized dividend and a yield of 2.84%. Veritex’s payout ratio is 29.20%.

Insider Activity

In related news, CFO Terry Earley acquired 1,180 shares of the stock in a transaction dated Friday, July 29th. The shares were purchased at an average cost of $30.50 per share, with a total value of $35,990.00. Following the transaction, the chief financial officer now directly owns 7,980 shares in the company, valued at $243,390. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.38% of the company’s stock.

Institutional Trading of Veritex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new stake in Veritex in the 1st quarter worth approximately $33,000. Point72 Hong Kong Ltd bought a new stake in Veritex in the 1st quarter worth approximately $41,000. Assetmark Inc. increased its stake in Veritex by 610.0% in the 2nd quarter. Assetmark Inc. now owns 1,065 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 915 shares during the last quarter. Private Capital Group LLC increased its stake in Veritex by 122.1% in the 2nd quarter. Private Capital Group LLC now owns 1,288 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 708 shares during the last quarter. Finally, KBC Group NV increased its stake in Veritex by 30.5% in the 2nd quarter. KBC Group NV now owns 3,988 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 931 shares during the last quarter. Institutional investors own 89.32% of the company’s stock.

Veritex Company Profile

(Get Rating)

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, consumer, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.

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