Millennium Management LLC Raises Stock Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

Millennium Management LLC lifted its holdings in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 220.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 966,391 shares of the financial services provider's stock after purchasing an additional 664,885 shares during the quarter. Millennium Management LLC owned 1.77% of Veritex worth $26,247,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Schroder Investment Management Group bought a new stake in Veritex in the 4th quarter worth approximately $11,172,000. Raymond James Financial Inc. bought a new stake in Veritex in the fourth quarter valued at approximately $6,974,000. Kennedy Capital Management LLC lifted its position in Veritex by 52.6% in the fourth quarter. Kennedy Capital Management LLC now owns 601,276 shares of the financial services provider's stock valued at $16,331,000 after purchasing an additional 207,376 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in Veritex by 126.4% in the fourth quarter. Cubist Systematic Strategies LLC now owns 270,137 shares of the financial services provider's stock valued at $7,337,000 after purchasing an additional 150,835 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new stake in Veritex in the fourth quarter valued at approximately $3,797,000. Hedge funds and other institutional investors own 88.31% of the company's stock.

Analysts Set New Price Targets

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

Veritex Price Performance

Shares of Veritex stock opened at $25.01 on Tuesday. 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 company has a market cap of $1.36 billion, a PE ratio of 12.83 and a beta of 1.01. The business has a 50 day moving average of $23.43 and a 200 day moving average of $26.08. Veritex Holdings, Inc. has a 52 week low of $18.74 and a 52 week high of $31.62.

Veritex (NASDAQ:VBTX - Get Free Report) last announced 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 return on equity of 7.59% and a net margin of 13.44%. The company had revenue of $109.73 million during the quarter, compared to the consensus estimate of $110.73 million. During the same quarter in the prior year, the company earned $0.53 earnings per share. As a group, equities research analysts forecast that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be paid a $0.22 dividend. 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 3.52%. The ex-dividend date of this dividend is Thursday, May 8th. Veritex's dividend payout ratio is currently 43.14%.

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.

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