Veritex (NASDAQ:VBTX) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

Shares of Veritex Holdings, Inc. (NASDAQ:VBTXGet Free Report) passed 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 trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods cut shares of Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th. Piper Sandler increased their price target on shares of Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. DA Davidson raised their price objective on Veritex from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, September 17th. Finally, StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Veritex has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Get Our Latest Stock Report on Veritex

Veritex Trading Down 4.9 %

The business’s 50 day simple moving average is $28.69 and its 200 day simple moving average is $25.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 15.67 and a beta of 1.38.

Veritex (NASDAQ:VBTXGet Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The firm had revenue of $113.17 million during the quarter, compared to the consensus estimate of $110.22 million. During the same period in the prior year, the business earned $0.60 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Research analysts anticipate that Veritex Holdings, Inc. will post 2.17 EPS for the current year.

Veritex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Friday, November 8th. Veritex’s dividend payout ratio is presently 51.28%.

Insider Buying and Selling at Veritex

In other news, Director John Sughrue sold 16,820 shares of the stock in a transaction dated Monday, November 11th. The shares were 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 $1,894,950.75. This trade represents a 21.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO C Malcolm Holland III sold 12,777 shares of Veritex stock in a transaction that occurred on Monday, October 28th. The shares were 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 of the company’s stock, valued at approximately $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 corporate insiders.

Institutional Trading of Veritex

Institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in Veritex in the 2nd quarter valued at approximately $25,000. GAMMA Investing LLC lifted its position in shares of Veritex by 14.7% in the fourth quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 431 shares in the last quarter. Systematic Financial Management LP purchased a new stake in shares of Veritex in the third quarter valued at $98,000. Point72 DIFC Ltd boosted its stake in shares of Veritex by 16.5% during the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 816 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in 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 purchasing an additional 5,559 shares in the last quarter. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

About Veritex

(Get Free Report)

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.

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