Veritex Holdings, Inc. (NASDAQ:VBTX) has received a “Hold” consensus recommendation from the four analysts currently covering the company, according to Bloomberg reports. Out of the four, three research analysts have given the stock a hold rating while one has assigned a buy rating to the financial services provider. The average twelve-month price target among brokers who have updated their coverage on VBTX in the past year is $28.38.
In terms of institutional investors and hedge funds, there have been recent modifications in their holdings of VBTX. Raymond James & Associates increased its position in Veritex by 13.3% during the first quarter, owning 7,964 shares valued at $304,000 after acquiring an additional 933 shares within that period. Bank of New York Mellon Corp also boosted its position by 0.4% during the same quarter, holding 582,539 shares valued at $22,236,000 after buying an additional 2,318 shares. Citigroup Inc., on the other hand, increased its position by 12.3% during that time frame and now holds 43,767 shares valued at $1,670,000 after purchasing an additional 4,799 shares. PNC Financial Services Group Inc., likewise saw a significant boost in its position by 788.5% during Q1 and now holds 18,321 shares worth $700,000 after acquiring an additional 16,259 shares.
Additionally Natixis Advisors L.P. recently purchased a new stake in Veritex during Q1 which amounts to approximately $384k.
Looking at our latest stock report on Veritex reveals that the company declared a quarterly dividend which was paid on August 25th this year. Shareholders who were recorded as of August 10th were eligible to receive a dividend payment of $0.20 per share—an annualized basis of $0.80 and a yield of 4.29%. The ex-dividend date for this payment was August 9th. As of now, Veritex’s dividend payout ratio (DPR) stands at 28.17%.
As always, investors and analysts are advised to conduct their own research and analysis before making any investment decisions.
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Veritex: Analyst Assessments, Financial Performance, and Future Outlook
Veritex (NASDAQ:VBTX), a financial services provider, has recently garnered the attention of analysts with differing assessments of its performance. StockNews.com has upgraded Veritex from a “sell” rating to a “hold” rating, while the Hovde Group downgraded it from an “outperform” rating to a “market perform” rating. Additionally, Stephens increased their price target on Veritex from $21.00 to $23.00.
As of September 18, 2023, Veritex opened at $18.66 and boasts a market capitalization of over $1 billion. With a price-to-earnings ratio of 6.57 and a beta value of 1.45, Veritex presents an intriguing investment opportunity for discerning investors.
The stock’s performance over the past year has seen some fluctuations; its fifty-day moving average stands at $19.67, while its two hundred-day moving average is $18.97. Over this period, Veritex experienced both highs and lows, with the share price reaching as low as $14.88 and as high as $33.12.
Analyzing the company’s financials, Veritex reported earnings results on July 25th, which fell slightly short of consensus estimates – reporting earnings per share (EPS) of $0.64 compared to the expected figure of $0.78 per share It generated revenue amounting to $114.52 million during this quarter—slightly below analyst predictions that placed it around $117.40 million.
Despite missing expectations on EPS and revenue figures, Veritex maintained a robust net margin of 22.77% and demonstrated commendable returns on equity at 11.08%.
As industry experts project financial outcomes going forward, they estimate that Veritex will achieve earnings per share (EPS) of approximately 2.7 for the present fiscal year.
These divergent analyst opinions and recent financial performance indicate an element of uncertainty surrounding Veritex’s future trajectory. Investors should carefully consider these factors before making any investment decisions regarding the company.
However, it is worth noting that past performance is not always indicative of future results, and unforeseen market forces can heavily influence a company’s performance. Only time will tell how Veritex navigates its path to profitability and capitalizes on growth opportunities in the financial services sector.
