Aristotle Capital Boston LLC lowered its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 10.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 742,907 shares of the financial services provider's stock after selling 85,525 shares during the period. Aristotle Capital Boston LLC owned about 1.36% of Veritex worth $20,177,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. USA Financial Formulas purchased a new stake in Veritex in the fourth quarter valued at $32,000. Quarry LP lifted its position in Veritex by 117.0% in the fourth quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock valued at $42,000 after buying an additional 824 shares during the last quarter. R Squared Ltd acquired a new position in Veritex in the fourth quarter valued at about $45,000. GAMMA Investing LLC boosted its stake in Veritex by 14.7% during the fourth quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider's stock worth $91,000 after buying an additional 431 shares during the period. Finally, KBC Group NV raised its stake in shares of Veritex by 73.5% in the 4th quarter. KBC Group NV now owns 3,826 shares of the financial services provider's stock valued at $104,000 after acquiring an additional 1,621 shares during the period. Institutional investors and hedge funds own 88.31% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently commented on VBTX. Keefe, Bruyette & Woods lowered their price objective on shares of Veritex from $33.00 to $30.00 and set a "market perform" rating for the company in a research note on Thursday, April 24th. Stephens restated an "equal weight" rating and issued a $30.00 price target on shares of Veritex in a research note on Wednesday, April 23rd. DA Davidson reduced their price objective on Veritex from $34.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Hovde Group upgraded Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 price target on the stock in a report on Thursday, January 30th. Finally, Raymond James cut Veritex from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the company from $31.00 to $28.00 in a research note on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.25.
Check Out Our Latest Report on Veritex
Veritex Stock Up 3.6 %
VBTX traded up $0.84 on Thursday, reaching $23.90. The company's stock had a trading volume of 150,776 shares, compared to its average volume of 388,851. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 12.26 and a beta of 1.01. Veritex Holdings, Inc. has a fifty-two week low of $18.74 and a fifty-two week high of $31.62. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average of $23.41 and a two-hundred day moving average of $26.24.
Veritex (NASDAQ:VBTX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Veritex had a net margin of 13.44% and a return on equity of 7.59%. The firm had revenue of $109.73 million for the quarter, compared to the consensus estimate of $110.73 million. During the same period last year, the firm posted $0.53 EPS. As a group, analysts forecast that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.
Veritex Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be given a $0.22 dividend. The ex-dividend date is Thursday, May 8th. This is a boost from Veritex's previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.68%. Veritex's dividend payout ratio is 43.14%.
About Veritex
(
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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