First Manhattan CO. LLC. decreased its holdings in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 426,975 shares of the financial services provider's stock after selling 31,200 shares during the period. First Manhattan CO. LLC. owned approximately 0.78% of Veritex worth $11,597,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. USA Financial Formulas bought a new position in Veritex in the 4th quarter worth approximately $32,000. Quarry LP lifted its position in shares of Veritex by 117.0% during the fourth quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock worth $42,000 after acquiring an additional 824 shares in the last quarter. R Squared Ltd bought a new position in shares of Veritex in the fourth quarter worth $45,000. GAMMA Investing LLC grew its position in shares of Veritex by 14.7% in the fourth quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider's stock valued at $91,000 after purchasing an additional 431 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Veritex by 73.5% during the 4th quarter. KBC Group NV now owns 3,826 shares of the financial services provider's stock valued at $104,000 after purchasing an additional 1,621 shares during the period. Institutional investors own 88.31% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have weighed in on VBTX. Stephens restated an "equal weight" rating and issued a $30.00 target price on shares of Veritex in a research note on Wednesday, April 23rd. Hovde Group upgraded Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 price objective on the stock in a research report on Thursday, January 30th. Raymond James downgraded shares of Veritex from a "strong-buy" rating to an "outperform" rating and reduced their target price for the stock from $31.00 to $28.00 in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced 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. Finally, DA Davidson dropped their target price on Veritex from $34.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $30.25.
Check Out Our Latest Analysis on Veritex
Veritex Stock Up 0.4%
NASDAQ:VBTX traded up $0.11 during trading hours on Thursday, reaching $25.11. The company's stock had a trading volume of 77,793 shares, compared to its average volume of 388,798. Veritex Holdings, Inc. has a 12 month low of $18.74 and a 12 month high of $31.62. The stock has a 50 day moving average price of $23.36 and a two-hundred day moving average price of $26.14. The company has a market capitalization of $1.36 billion, a P/E ratio of 12.88 and a beta of 1.01. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.95.
Veritex (NASDAQ:VBTX - Get Free Report) last issued 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. The firm had revenue of $109.73 million for the quarter, compared to analyst estimates of $110.73 million. Veritex had a return on equity of 7.59% and a net margin of 13.44%. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Equities 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 will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.50%. This is a positive change from Veritex's previous quarterly dividend of $0.20. The ex-dividend date is Thursday, May 8th. Veritex's dividend payout ratio is presently 43.14%.
About Veritex
(
Free Report)
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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