Point72 Asset Management L.P. Makes New Investment in Veritex Holdings, Inc. (NASDAQ:VBTX)

Point72 Asset Management L.P. purchased a new position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,100 shares of the financial services provider’s stock, valued at approximately $234,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Louisiana State Employees Retirement System increased its position in Veritex by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the financial services provider’s stock worth $578,000 after buying an additional 500 shares during the period. Texas Permanent School Fund Corp boosted its stake in shares of Veritex by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 47,556 shares of the financial services provider’s stock valued at $974,000 after purchasing an additional 650 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Veritex by 7.4% during the first quarter. ProShare Advisors LLC now owns 10,622 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 728 shares in the last quarter. Point72 DIFC Ltd boosted its stake in shares of Veritex by 16.5% during the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 816 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Veritex during the second quarter worth about $25,000. Institutional investors own 88.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a report on Tuesday, September 17th. DA Davidson reaffirmed a “buy” rating and set a $29.00 target price on shares of Veritex in a research report on Wednesday, August 28th. Piper Sandler boosted their price objective on Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Stephens boosted their price objective on Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.00.

Veritex Trading Up 1.7 %

VBTX opened at $25.30 on Friday. Veritex Holdings, Inc. has a one year low of $15.93 and a one year high of $26.72. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 14.71 and a beta of 1.37. The business has a 50 day simple moving average of $24.21 and a two-hundred day simple moving average of $21.94. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). Veritex had a return on equity of 7.97% and a net margin of 11.52%. The business had revenue of $106.81 million during the quarter, compared to analysts’ expectations of $108.39 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. Analysts predict that Veritex Holdings, Inc. will post 2.14 EPS for the current year.

Veritex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Friday, August 9th. Veritex’s dividend payout ratio is presently 46.51%.

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.