Veritex (NASDAQ:VBTX) Stock Passes Below 200 Day Moving Average – Here’s Why

Veritex Holdings, Inc. (NASDAQ:VBTX) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.77 and traded as low as $25.55. Veritex shares last traded at $25.71, with a volume of 323,982 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have commented on VBTX. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. DA Davidson boosted their price target on shares of Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods lowered shares of Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th. Piper Sandler upped their price target on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.40.

Veritex Stock Down 0.6 %

The business has a fifty day moving average of $28.74 and a 200 day moving average of $25.77. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 16.48 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, beating 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 business had revenue of $113.17 million during the quarter, compared to analysts’ expectations of $110.22 million. During the same period last year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities analysts predict that Veritex Holdings, Inc. will post 2.17 earnings per share for the current year.

Veritex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 3.11%. Veritex’s dividend payout ratio is currently 51.28%.

Insider Activity at Veritex

In other news, Director John Sughrue sold 16,820 shares of Veritex 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 completion of the transaction, the director now owns 62,643 shares in the company, valued at approximately $1,894,950.75. This trade represents a 21.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO C Malcolm Holland III sold 12,777 shares of the company’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 transaction of $353,795.13. Following the sale, the chief executive officer now owns 224,132 shares in the company, valued at $6,206,215.08. The trade was a 5.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Veritex

A number of large investors have recently modified their holdings of VBTX. Meeder Asset Management Inc. acquired a new stake in Veritex in the second quarter valued at $25,000. GAMMA Investing LLC raised its position in shares of Veritex by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 431 shares in the last quarter. Systematic Financial Management LP purchased a new stake in Veritex during the third quarter worth approximately $98,000. Point72 DIFC Ltd raised its holdings in Veritex by 16.5% during the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 816 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Veritex by 295.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,438 shares of the financial services provider’s stock worth $196,000 after buying an additional 5,559 shares during the last quarter. 88.31% of the stock is owned by hedge funds and other 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.