Inscription Capital LLC purchased a new position in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 57,732 shares of the financial services provider's stock, valued at approximately $1,442,000. Inscription Capital LLC owned 0.11% of Veritex as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently modified their holdings of the business. Deutsche Bank AG grew its stake in Veritex by 48.7% in the fourth quarter. Deutsche Bank AG now owns 47,636 shares of the financial services provider's stock valued at $1,294,000 after purchasing an additional 15,596 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Veritex in the 4th quarter valued at about $1,057,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Veritex in the 4th quarter worth approximately $276,000. Principal Financial Group Inc. raised its stake in shares of Veritex by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 264,107 shares of the financial services provider's stock worth $7,173,000 after acquiring an additional 7,882 shares in the last quarter. Finally, Handelsbanken Fonder AB acquired a new stake in Veritex in the first quarter valued at approximately $227,000. Hedge funds and other institutional investors own 88.31% of the company's stock.
Veritex Stock Performance
Shares of NASDAQ VBTX traded up $0.13 during mid-day trading on Friday, hitting $24.30. The stock had a trading volume of 969,774 shares, compared to its average volume of 393,209. The firm has a market cap of $1.32 billion, a PE ratio of 11.91 and a beta of 1.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 0.94. The company has a 50 day moving average of $23.80 and a two-hundred day moving average of $25.30. Veritex Holdings, Inc. has a twelve month low of $19.78 and a twelve month high of $31.62.
Veritex (NASDAQ:VBTX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 7.51% and a net margin of 14.12%. The business had revenue of $109.73 million for the quarter, compared to analyst estimates of $110.73 million. During the same period in the prior year, the company earned $0.53 earnings per share. Research analysts predict that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.
Veritex Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, May 8th. This is a positive change from Veritex's previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 3.62%. Veritex's dividend payout ratio (DPR) is currently 43.14%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on VBTX. Stephens reaffirmed an "equal weight" rating and set a $30.00 price target on shares of Veritex in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods dropped their target price on Veritex from $33.00 to $30.00 and set a "market perform" rating on the stock in a research note on Thursday, April 24th. DA Davidson reduced their target price on Veritex from $34.00 to $32.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Raymond James Financial downgraded Veritex from a "strong-buy" rating to an "outperform" rating and lowered their price target for the stock 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, Veritex presently has an average rating of "Moderate Buy" and an average price target of $30.25.
Check Out Our Latest Stock Analysis on VBTX
Veritex Company Profile
(
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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