Silvercrest Asset Management Group LLC Acquires New Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

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

A number of other hedge funds and other institutional investors have also recently made changes to their positions in VBTX. Rafferty Asset Management LLC raised its stake in Veritex by 10.7% during the 4th quarter. Rafferty Asset Management LLC now owns 76,768 shares of the financial services provider's stock valued at $2,085,000 after acquiring an additional 7,412 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Veritex by 92.6% in the fourth quarter. Point72 Asset Management L.P. now owns 8,884 shares of the financial services provider's stock valued at $241,000 after purchasing an additional 4,271 shares during the period. ProShare Advisors LLC increased its holdings in shares of Veritex by 44.3% in the fourth quarter. ProShare Advisors LLC now owns 15,865 shares of the financial services provider's stock valued at $431,000 after purchasing an additional 4,871 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Veritex by 57.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider's stock worth $33,675,000 after purchasing an additional 454,015 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Veritex by 220.5% during the fourth quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider's stock worth $26,247,000 after purchasing an additional 664,885 shares during the period. Hedge funds and other institutional investors own 88.31% of the company's stock.

Veritex Price Performance

Shares of NASDAQ VBTX traded down $0.13 during midday trading on Friday, hitting $23.93. The company had a trading volume of 47,295 shares, compared to its average volume of 397,212. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 12.27 and a beta of 1.01. Veritex Holdings, Inc. has a twelve month low of $18.74 and a twelve month high of $31.62. The business has a 50-day simple moving average of $23.44 and a two-hundred day simple moving average of $26.04. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. The company had revenue of $109.73 million during the quarter, compared to the consensus estimate of $110.73 million. Veritex had a net margin of 13.44% and a return on equity of 7.59%. During the same period last year, the firm earned $0.53 EPS. Equities research analysts anticipate that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, May 8th. This is a boost from Veritex's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 3.68%. Veritex's payout ratio is currently 43.14%.

Analyst Upgrades and Downgrades

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

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.