Nuveen Asset Management LLC Purchases 454,015 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

Nuveen Asset Management LLC boosted its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 57.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,239,873 shares of the financial services provider's stock after purchasing an additional 454,015 shares during the period. Nuveen Asset Management LLC owned about 2.28% of Veritex worth $33,675,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Veritex by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 3,874,917 shares of the financial services provider's stock valued at $105,243,000 after purchasing an additional 39,746 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Veritex by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,803,752 shares of the financial services provider's stock valued at $76,149,000 after purchasing an additional 125,189 shares during the last quarter. Millennium Management LLC lifted its holdings in 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 purchasing an additional 664,885 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Veritex by 1.9% in the fourth quarter. American Century Companies Inc. now owns 789,909 shares of the financial services provider's stock worth $21,454,000 after acquiring an additional 14,924 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Veritex by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 741,274 shares of the financial services provider's stock worth $20,133,000 after acquiring an additional 8,409 shares during the last quarter. 88.31% of the stock is owned by institutional investors.

Veritex Trading Up 2.8%

Shares of VBTX traded up $0.68 on Tuesday, reaching $24.66. 283,038 shares of the company's stock were exchanged, compared to its average volume of 388,270. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.34 billion, a P/E ratio of 12.65 and a beta of 1.01. The business has a 50 day moving average price of $23.42 and a two-hundred day moving average price of $25.92. Veritex Holdings, Inc. has a 12 month low of $18.74 and a 12 month high of $31.62.

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 for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The business 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 in the previous year, the firm posted $0.53 earnings per share. 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 was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.57%. This is an increase from Veritex's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, May 8th. Veritex's payout ratio is 43.14%.

Analyst Ratings Changes

A number of brokerages have weighed in on VBTX. Hovde Group raised shares of 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. Stephens reaffirmed an "equal weight" rating and issued a $30.00 target price on shares of Veritex in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods dropped their target price on shares of Veritex from $33.00 to $30.00 and set a "market perform" rating for the company in a research note on Thursday, April 24th. DA Davidson dropped their target price on shares of Veritex from $34.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Raymond James downgraded shares of Veritex from a "strong-buy" rating to an "outperform" rating and dropped their target price for the stock from $31.00 to $28.00 in a research note on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average 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.