Veritex (NASDAQ:VBTX) Reaches New 12-Month High – Should You Buy?

Veritex Holdings, Inc. (NASDAQ:VBTX) shares hit a new 52-week high during trading on Monday . The stock traded as high as $30.98 and last traded at $30.98, with a volume of 12729 shares traded. The stock had previously closed at $30.07.

Analyst Ratings Changes

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

Veritex Price Performance

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 stock’s fifty day moving average is $27.43 and its 200-day moving average is $24.03. The stock has a market cap of $1.69 billion, a PE ratio of 19.90 and a beta of 1.36.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04. The business had revenue of $113.17 million during the quarter, compared to analysts’ expectations of $110.22 million. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. As a group, equities analysts anticipate that Veritex Holdings, Inc. will post 2.17 EPS for the current year.

Veritex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.58%. Veritex’s dividend payout ratio is currently 51.28%.

Insider Transactions at Veritex

In other Veritex 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 transaction of $508,805.00. Following the completion of the transaction, the director now owns 62,643 shares of the company’s stock, valued at $1,894,950.75. This trade represents a 21.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO C Malcolm Holland III sold 12,777 shares of Veritex stock in a transaction dated 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. This represents a 5.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VBTX. Vanguard Group Inc. raised its holdings in shares of Veritex by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 3,795,336 shares of the financial services provider’s stock valued at $77,766,000 after buying an additional 23,222 shares during the period. Dimensional Fund Advisors LP increased its stake in Veritex by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock worth $51,566,000 after purchasing an additional 299,562 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Veritex by 0.5% in the third quarter. Victory Capital Management Inc. now owns 1,978,219 shares of the financial services provider’s stock valued at $52,067,000 after purchasing an additional 9,611 shares during the period. Westwood Holdings Group Inc. grew its holdings in shares of Veritex by 16.4% in the first quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock valued at $34,193,000 after purchasing an additional 235,154 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Veritex by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider’s stock worth $34,064,000 after buying an additional 18,185 shares during the period. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

Veritex Company Profile

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.