Two Sigma Investments LP Trims Stock Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Two Sigma Investments LP lessened its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 19.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 120,927 shares of the financial services provider's stock after selling 29,985 shares during the period. Two Sigma Investments LP owned about 0.22% of Veritex worth $3,284,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Millennium Management LLC increased its stake 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 in the last quarter. Silvercrest Asset Management Group LLC acquired a new position in Veritex during the 4th quarter valued at approximately $14,644,000. Nuveen Asset Management LLC increased its stake in Veritex by 57.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider's stock valued at $33,675,000 after purchasing an additional 454,015 shares in the last quarter. Schroder Investment Management Group acquired a new position in Veritex during the 4th quarter valued at approximately $11,172,000. Finally, Raymond James Financial Inc. acquired a new position in Veritex during the 4th quarter valued at approximately $6,974,000. Hedge funds and other institutional investors own 88.31% of the company's stock.

Veritex Price Performance

Shares of NASDAQ VBTX traded up $0.20 during trading on Tuesday, hitting $24.18. The company had a trading volume of 300,717 shares, compared to its average volume of 388,274. The stock has a fifty day simple moving average of $23.36 and a two-hundred day simple moving average of $25.73. Veritex Holdings, Inc. has a fifty-two week low of $19.27 and a fifty-two week high of $31.62. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 12.40 and a beta of 1.01. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

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 the consensus estimate of $0.51 by $0.03. Veritex had a net margin of 13.44% and a return on equity of 7.59%. The firm had revenue of $109.73 million for the quarter, compared to the consensus estimate of $110.73 million. During the same period last year, the firm posted $0.53 earnings per share. On average, research analysts expect that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Increases Dividend

The business also recently declared 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. The ex-dividend date was Thursday, May 8th. 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 3.64%. Veritex's dividend payout ratio (DPR) is currently 43.14%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Stephens restated an "equal weight" rating and set a $30.00 price target on shares of Veritex in a research note on Wednesday, April 23rd. Raymond James lowered shares of Veritex from a "strong-buy" rating to an "outperform" rating and cut their price target for the company from $31.00 to $28.00 in a research note on Wednesday, April 2nd. DA Davidson cut their price objective on shares of Veritex from $34.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Veritex from $33.00 to $30.00 and set a "market perform" rating on the stock in a research note on Thursday, April 24th. 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, Veritex currently has a consensus rating of "Moderate Buy" and an average target price 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.