Boothbay Fund Management LLC reduced its stake in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 44.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 171,681 shares of the financial services provider's stock after selling 139,505 shares during the period. Boothbay Fund Management LLC owned about 0.32% of Veritex worth $4,663,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. USA Financial Formulas acquired a new position in shares of Veritex during the fourth quarter worth $32,000. R Squared Ltd acquired a new position in Veritex in the 4th quarter worth about $45,000. GAMMA Investing LLC raised its position 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 purchasing an additional 431 shares during the last quarter. KBC Group NV boosted its stake in shares of Veritex by 73.5% during the fourth 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 in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of Veritex by 9.8% during the fourth quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider's stock worth $146,000 after purchasing an additional 481 shares during the last quarter. 88.31% of the stock is owned by institutional investors.
Veritex Trading Up 0.8 %
Shares of Veritex stock traded up $0.19 on Thursday, reaching $23.47. 279,128 shares of the company's stock were exchanged, compared to its average volume of 391,184. The firm's 50-day moving average is $23.64 and its two-hundred day moving average is $26.36. The company has a market capitalization of $1.28 billion, a P/E ratio of 12.04 and a beta of 1.11. 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 Holdings, Inc. has a 52 week low of $18.74 and a 52 week high of $31.62.
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, beating the consensus estimate of $0.51 by $0.03. The firm had revenue of $109.73 million during the quarter, compared to the consensus estimate of $110.73 million. Veritex had a net margin of 13.44% and a return on equity of 7.59%. During the same period in the previous year, the firm posted $0.53 earnings per share. Sell-side analysts predict that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.
Veritex Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be paid a dividend of $0.22 per share. 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 3.75%. The ex-dividend date of this dividend is Thursday, May 8th. Veritex's dividend payout ratio is presently 43.14%.
Analysts Set New Price Targets
A number of brokerages recently issued reports on VBTX. Hovde Group upgraded shares of Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 price objective for the company in a report on Thursday, January 30th. Raymond James lowered shares of 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 issued a $30.00 price objective on shares of Veritex in a report on Wednesday, April 23rd. DA Davidson lowered their target price on Veritex from $34.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods reduced their price target on Veritex from $33.00 to $30.00 and set a "market perform" rating on the stock in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $30.25.
Check Out Our Latest Report on VBTX
Veritex Company Profile
(
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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