Peregrine Capital Management LLC Sells 11,241 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

Peregrine Capital Management LLC reduced its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 5.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 206,095 shares of the financial services provider's stock after selling 11,241 shares during the quarter. Peregrine Capital Management LLC owned 0.38% of Veritex worth $5,146,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of VBTX. Salzhauer Michael grew its position in Veritex by 20.7% during the 1st quarter. Salzhauer Michael now owns 59,361 shares of the financial services provider's stock worth $1,482,000 after acquiring an additional 10,184 shares during the last quarter. Inscription Capital LLC purchased a new stake in shares of Veritex during the first quarter valued at approximately $1,442,000. Opal Wealth Advisors LLC purchased a new stake in shares of Veritex during the first quarter valued at approximately $31,000. SummerHaven Investment Management LLC grew its holdings in shares of Veritex by 1.5% in the first quarter. SummerHaven Investment Management LLC now owns 37,056 shares of the financial services provider's stock worth $925,000 after purchasing an additional 536 shares during the last quarter. Finally, Handelsbanken Fonder AB purchased a new position in shares of Veritex in the first quarter worth $227,000. Hedge funds and other institutional investors own 88.31% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on VBTX shares. Keefe, Bruyette & Woods cut their price target on shares of Veritex from $33.00 to $30.00 and set a "market perform" rating on the stock in a report 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 report on Wednesday, April 23rd. Raymond James Financial cut Veritex from a "strong-buy" rating to an "outperform" rating and cut their target price for the stock from $31.00 to $28.00 in a research note on Wednesday, April 2nd. Finally, 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. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.25.

Veritex Trading Up 3.0%

Shares of VBTX traded up $0.77 during trading hours on Tuesday, reaching $26.87. 337,024 shares of the company traded hands, compared to its average volume of 392,657. Veritex Holdings, Inc. has a 12 month low of $20.10 and a 12 month high of $31.62. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.10. The company's fifty day moving average price is $24.37 and its two-hundred day moving average price is $25.02. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 13.17 and a beta of 1.02.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Veritex had a net margin of 14.12% and a return on equity of 7.51%. The business had revenue of $109.73 million during the quarter, compared to analyst estimates of $110.73 million. During the same period last year, the business posted $0.53 earnings per share. Equities research analysts predict 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 issued a $0.22 dividend. This is an increase from Veritex's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $0.88 dividend on an annualized basis and a yield of 3.28%. Veritex's dividend payout ratio is 43.14%.

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.