Renaissance Technologies LLC Makes New $730,000 Investment in Veritex Holdings, Inc. (NASDAQ:VBTX)

Renaissance Technologies LLC bought a new stake in Veritex Holdings, Inc. (NASDAQ:VBTX) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 34,623 shares of the financial services provider’s stock, valued at approximately $730,000. Renaissance Technologies LLC owned approximately 0.06% of Veritex as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Veritex by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 3,772,114 shares of the financial services provider’s stock valued at $87,777,000 after acquiring an additional 52,933 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in Veritex by 16.4% in the first quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock worth $34,193,000 after purchasing an additional 235,154 shares in the last quarter. Wellington Management Group LLP lifted its position in Veritex by 10.1% during the 4th quarter. Wellington Management Group LLP now owns 547,221 shares of the financial services provider’s stock worth $12,734,000 after buying an additional 50,406 shares in the last quarter. Quantbot Technologies LP increased its position in Veritex by 1,599.8% in the 1st quarter. Quantbot Technologies LP now owns 39,232 shares of the financial services provider’s stock valued at $804,000 after acquiring an additional 36,924 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new position in shares of Veritex in the second quarter worth about $566,000. Institutional investors own 88.31% of the company’s stock.

Veritex Price Performance

Veritex stock opened at $24.99 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.36 billion, a P/E ratio of 14.53 and a beta of 1.37. The business has a 50-day moving average of $24.22 and a 200-day moving average of $21.99. Veritex Holdings, Inc. has a 1 year low of $15.93 and a 1 year high of $26.72.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The firm had revenue of $106.81 million for the quarter, compared to analyst estimates of $108.39 million. Veritex had a net margin of 11.52% and a return on equity of 7.97%. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS. On average, equities analysts anticipate that Veritex Holdings, Inc. will post 2.13 EPS for the current year.

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.20%. The ex-dividend date was Friday, August 9th. Veritex’s payout ratio is presently 46.51%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Stephens increased their price target on shares of Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, September 17th. Piper Sandler boosted their target price on Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, DA Davidson reaffirmed a “buy” rating and set a $29.00 price target on shares of Veritex in a research note on Wednesday, August 28th. Two 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. Based on data from MarketBeat, Veritex presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Veritex Company 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.