Silvercrest Asset Management Group LLC Buys Shares of 539,180 Veritex Holdings, Inc. (NASDAQ:VBTX)

Silvercrest Asset Management Group LLC bought a new stake in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 539,180 shares of the financial services provider's stock, valued at approximately $14,644,000. Silvercrest Asset Management Group LLC owned about 0.99% of Veritex at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Veritex by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 3,874,917 shares of the financial services provider's stock worth $105,243,000 after purchasing an additional 39,746 shares during the period. Dimensional Fund Advisors LP grew its position in Veritex by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,803,752 shares of the financial services provider's stock worth $76,149,000 after buying an additional 125,189 shares during the period. Nuveen Asset Management LLC increased its holdings in Veritex by 57.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider's stock valued at $33,675,000 after buying an additional 454,015 shares in the last quarter. Millennium Management LLC lifted its position in shares of Veritex by 220.5% during the 4th quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider's stock valued at $26,247,000 after acquiring an additional 664,885 shares during the period. Finally, American Century Companies Inc. grew its holdings in Veritex by 1.9% in the fourth quarter. American Century Companies Inc. now owns 789,909 shares of the financial services provider's stock valued at $21,454,000 after purchasing an additional 14,924 shares during the last quarter. Institutional investors and hedge funds own 88.31% of the company's stock.

Veritex Trading Down 3.4%

Shares of Veritex stock traded down $0.84 during trading hours on Wednesday, reaching $24.22. The stock had a trading volume of 400,487 shares, compared to its average volume of 387,926. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. Veritex Holdings, Inc. has a 1 year low of $18.74 and a 1 year high of $31.62. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 12.42 and a beta of 1.01. The firm has a 50 day simple moving average of $23.46 and a two-hundred day simple moving average of $26.07.

Veritex (NASDAQ:VBTX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.54 earnings per share 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 analysts' expectations of $110.73 million. During the same period in the previous year, the company posted $0.53 earnings per share. As a group, equities research analysts anticipate that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.63%. This is a boost from Veritex's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, May 8th. Veritex's dividend payout ratio is 43.14%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VBTX. Stephens reaffirmed an "equal weight" rating and issued a $30.00 price target on shares of Veritex in a report on Wednesday, April 23rd. Raymond James lowered Veritex from a "strong-buy" rating to an "outperform" rating and reduced their target price for the company from $31.00 to $28.00 in a research note on Wednesday, April 2nd. DA Davidson dropped their price target on Veritex from $34.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Hovde Group raised Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 price target for the company in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Veritex from $33.00 to $30.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Veritex currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.25.

Veritex 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.