Piper Sandler Increases Veritex (NASDAQ:VBTX) Price Target to $30.00

Veritex (NASDAQ:VBTX) had its price objective boosted by Piper Sandler from $27.00 to $30.00 in a research report report published on Thursday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other analysts have also issued reports about the stock. DA Davidson restated a “buy” rating and set a $29.00 target price on shares of Veritex in a research report on Wednesday, August 28th. Stephens upped their price objective on Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods cut Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday. StockNews.com cut Veritex from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Raymond James raised 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $29.40.

Veritex Price Performance

NASDAQ VBTX opened at $27.47 on Thursday. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 15.97 and a beta of 1.37. Veritex has a 1-year low of $15.93 and a 1-year high of $28.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95. The business’s fifty day moving average price is $25.18 and its 200-day moving average price is $22.54.

Veritex (NASDAQ:VBTX) last posted its 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. The company had revenue of $113.17 million for the quarter, compared to the consensus estimate of $110.22 million. Veritex had a return on equity of 7.88% and a net margin of 11.11%. Veritex’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, equities analysts predict that Veritex will post 2.13 earnings per share for the current year.

Veritex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.91%. Veritex’s dividend payout ratio is presently 46.51%.

Hedge Funds Weigh In On Veritex

A number of hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. boosted its stake in Veritex by 67.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider’s stock worth $21,248,000 after purchasing an additional 325,569 shares during the period. Raymond James & Associates purchased a new position in shares of Veritex in the third quarter worth $3,971,000. Vontobel Holding Ltd. bought a new position in shares of Veritex during the third quarter worth $240,000. CWM LLC grew its stake in Veritex by 163.8% during the third quarter. CWM LLC now owns 8,808 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 5,469 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Veritex in the 3rd quarter valued at $949,000. 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.