Peregrine Capital Management LLC Cuts Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

Peregrine Capital Management LLC cut its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 206,095 shares of the financial services provider's stock after selling 11,241 shares during the period. Peregrine Capital Management LLC owned approximately 0.38% of Veritex worth $5,146,000 as of its most recent filing with the Securities and Exchange Commission.

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

Veritex Trading Up 0.9%

NASDAQ VBTX traded up $0.24 on Friday, hitting $27.62. The company's stock had a trading volume of 149,665 shares, compared to its average volume of 393,711. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.50 billion, a P/E ratio of 13.54 and a beta of 1.03. The company's 50-day simple moving average is $24.64 and its 200 day simple moving average is $25.03. Veritex Holdings, Inc. has a 52-week low of $20.10 and a 52-week high of $31.62.

Veritex (NASDAQ:VBTX - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The company had revenue of $109.73 million during the quarter, compared to the consensus estimate of $110.73 million. Veritex had a net margin of 14.12% and a return on equity of 7.51%. During the same period in the prior year, the firm 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 disclosed 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. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $0.88 annualized dividend and a yield of 3.19%. This is a positive change from Veritex's previous quarterly dividend of $0.20. Veritex's payout ratio is presently 43.14%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VBTX. Raymond James Financial lowered Veritex from a "strong-buy" rating to an "outperform" rating and cut their price target for the stock from $31.00 to $28.00 in a report on Wednesday, April 2nd. Stephens restated an "equal weight" rating and set a $30.00 price objective 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 for the company in a research report on Thursday, April 24th. Finally, DA Davidson cut their price target on shares of Veritex from $34.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $30.25.

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.