Millennium Management LLC Boosts Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Millennium Management LLC boosted its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 56.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 292,499 shares of the financial services provider’s stock after purchasing an additional 105,261 shares during the period. Millennium Management LLC owned about 0.54% of Veritex worth $6,169,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in VBTX. Meeder Asset Management Inc. purchased a new position in shares of Veritex during the 2nd quarter valued at $25,000. Fidelis Capital Partners LLC bought a new stake in Veritex during the 1st quarter valued at approximately $29,000. CWM LLC lifted its holdings in Veritex by 1,302.9% in the 2nd quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 3,101 shares in the last quarter. Point72 DIFC Ltd grew its holdings in Veritex by 16.5% during the 2nd quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock valued at $122,000 after buying an additional 816 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Veritex during the first quarter valued at approximately $177,000. 88.31% of the stock is currently owned by institutional investors.

Veritex Price Performance

Veritex stock opened at $25.32 on Friday. The firm has a market capitalization of $1.38 billion, a PE ratio of 14.74 and a beta of 1.37. Veritex Holdings, Inc. has a 12-month low of $15.93 and a 12-month high of $26.72. The firm has a 50-day moving average price of $24.22 and a 200-day moving average price of $22.05. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Veritex (NASDAQ:VBTX) last posted 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). Veritex had a net margin of 11.52% and a return on equity of 7.97%. The business had revenue of $106.81 million for the quarter, compared to analysts’ expectations of $108.39 million. During the same quarter in the previous year, the firm earned $0.64 EPS. Veritex’s revenue was down 6.7% compared to the same quarter last year. As a group, equities research analysts forecast that Veritex Holdings, Inc. will post 2.13 EPS for the current year.

Veritex Dividend Announcement

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

Wall Street Analysts Forecast Growth

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