Millennium Management LLC Has $26.25 Million Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

Millennium Management LLC boosted its holdings in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 220.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 966,391 shares of the financial services provider's stock after buying an additional 664,885 shares during the period. Millennium Management LLC owned approximately 1.77% of Veritex worth $26,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP raised 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 purchasing an additional 824 shares during the period. R Squared Ltd purchased a new stake in Veritex during the 4th quarter valued at approximately $45,000. KBC Group NV increased its position in Veritex by 73.5% during the 4th quarter. KBC Group NV now owns 3,826 shares of the financial services provider's stock worth $104,000 after purchasing an additional 1,621 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of Veritex in the 4th quarter worth approximately $143,000. Finally, Meeder Asset Management Inc. grew its holdings in Veritex by 9.8% during the 4th quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider's stock valued at $146,000 after buying an additional 481 shares during the last quarter. 88.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Veritex Stock Performance

Veritex stock traded down $0.08 during midday trading on Friday, reaching $23.98. 273,510 shares of the company's stock were exchanged, compared to its average volume of 388,692. Veritex Holdings, Inc. has a 52 week low of $18.74 and a 52 week high of $31.62. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 12.30 and a beta of 1.01. The stock's 50-day simple moving average is $23.43 and its 200 day simple moving average is $25.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.95.

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

Veritex Increases Dividend

The company also recently disclosed 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. This is an increase from Veritex's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Thursday, May 8th. Veritex's payout ratio is currently 43.14%.

About Veritex

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.