BidaskClub cut shares of Veritex (NASDAQ:VBTX) from a buy rating to a hold rating in a report published on Tuesday, BidAskClub reports.

A number of other equities research analysts also recently commented on VBTX. Zacks Investment Research raised shares of Veritex from a hold rating to a buy rating and set a $31.00 target price for the company in a research report on Friday, March 1st. ValuEngine downgraded shares of Veritex from a hold rating to a sell rating in a research report on Thursday, March 21st. Finally, Stephens reaffirmed a buy rating and issued a $32.00 target price on shares of Veritex in a research report on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Veritex currently has an average rating of Buy and a consensus target price of $32.25.

Shares of VBTX opened at $26.19 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.27. Veritex has a twelve month low of $20.34 and a twelve month high of $33.08. The company has a market cap of $1.42 billion, a P/E ratio of 14.23, a PEG ratio of 1.47 and a beta of 1.64.

Veritex (NASDAQ:VBTX) last posted its earnings results on Monday, April 22nd. The financial services provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. Veritex had a net margin of 16.31% and a return on equity of 9.11%. The business had revenue of $81.40 million during the quarter, compared to the consensus estimate of $78.50 million. On average, sell-side analysts anticipate that Veritex will post 2.53 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Wednesday, May 8th. Veritex’s dividend payout ratio (DPR) is presently 27.17%.

In other Veritex news, Director Pat S. Bolin acquired 18,771 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was purchased at an average price of $25.80 per share, with a total value of $484,291.80. Following the transaction, the director now directly owns 6,262 shares in the company, valued at approximately $161,559.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Terry Earley acquired 6,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were acquired at an average cost of $25.88 per share, with a total value of $175,984.00. Following the transaction, the chief financial officer now owns 23,700 shares in the company, valued at $613,356. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 26,571 shares of company stock valued at $686,096. 4.70% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of VBTX. Bank of New York Mellon Corp increased its holdings in shares of Veritex by 4.1% in the third quarter. Bank of New York Mellon Corp now owns 96,699 shares of the financial services provider’s stock worth $2,733,000 after acquiring an additional 3,833 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Veritex by 1.1% in the third quarter. Vanguard Group Inc. now owns 958,672 shares of the financial services provider’s stock worth $27,092,000 after acquiring an additional 10,274 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Veritex by 48.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,203 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 714 shares in the last quarter. New York State Teachers Retirement System bought a new stake in shares of Veritex in the fourth quarter worth about $218,000. Finally, Arizona State Retirement System bought a new stake in shares of Veritex in the fourth quarter worth about $798,000. 76.00% of the stock is owned by hedge funds and other institutional investors.

Veritex Company Profile

Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.

Further Reading: What are retained earnings?

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