Balyasny Asset Management L.P. Trims Stock Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Balyasny Asset Management L.P. trimmed its position in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 12.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 241,296 shares of the financial services provider's stock after selling 32,959 shares during the quarter. Balyasny Asset Management L.P. owned 0.44% of Veritex worth $6,554,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in VBTX. Barclays PLC increased its stake in shares of Veritex by 63.8% in the third quarter. Barclays PLC now owns 117,609 shares of the financial services provider's stock worth $3,095,000 after buying an additional 45,787 shares during the period. Franklin Resources Inc. boosted its holdings in Veritex by 1.0% in the third quarter. Franklin Resources Inc. now owns 73,421 shares of the financial services provider's stock valued at $1,920,000 after acquiring an additional 701 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Veritex by 24.1% in the third quarter. JPMorgan Chase & Co. now owns 631,372 shares of the financial services provider's stock valued at $16,618,000 after acquiring an additional 122,809 shares in the last quarter. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 431 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in Veritex in the fourth quarter valued at $32,000. 88.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in 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. Hovde Group upgraded shares of Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 target price on the stock in a report on Thursday, January 30th. Raymond James cut shares of Veritex from a "strong-buy" rating to an "outperform" rating and dropped their target price for the company from $31.00 to $28.00 in a report on Wednesday, April 2nd. DA Davidson dropped their target price on shares of Veritex from $34.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Stephens restated an "equal weight" rating and set a $30.00 target price on shares of Veritex in a 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $30.25.

Veritex Stock Performance

NASDAQ:VBTX traded up $0.03 during mid-day trading on Thursday, reaching $25.03. The company's stock had a trading volume of 60,486 shares, compared to its average volume of 401,680. Veritex Holdings, Inc. has a 12-month low of $18.74 and a 12-month high of $31.62. The firm's fifty day moving average price is $23.36 and its two-hundred day moving average price is $26.14. 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 cap of $1.36 billion, a P/E ratio of 12.84 and a beta of 1.01.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its 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. Veritex had a return on equity of 7.59% and a net margin of 13.44%. The business had revenue of $109.73 million during the quarter, compared to analyst estimates of $110.73 million. During the same quarter in the previous year, the firm earned $0.53 EPS. On average, equities analysts forecast that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be given a $0.22 dividend. This is a positive change from Veritex's previous quarterly dividend of $0.20. The ex-dividend date is Thursday, May 8th. This represents a $0.88 dividend on an annualized basis and a yield of 3.52%. Veritex's payout ratio is 43.14%.

About Veritex

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.