Raymond James & Associates Makes New $3.97 Million Investment in Veritex Holdings, Inc. (NASDAQ:VBTX)

Raymond James & Associates purchased a new position in Veritex Holdings, Inc. (NASDAQ:VBTX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 150,867 shares of the financial services provider’s stock, valued at approximately $3,971,000. Raymond James & Associates owned about 0.28% of Veritex at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of VBTX. Kennedy Capital Management LLC acquired a new stake in Veritex in the 1st quarter worth $9,139,000. F M Investments LLC acquired a new stake in Veritex in the 2nd quarter worth $8,483,000. Dimensional Fund Advisors LP grew its position in Veritex by 14.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider’s stock worth $51,566,000 after purchasing an additional 299,562 shares during the last quarter. Westwood Holdings Group Inc. grew its position in Veritex by 16.4% in the 1st 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 during the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in shares of Veritex during the 2nd quarter valued at about $3,908,000. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VBTX has been the topic of several recent research reports. Raymond James upgraded shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, September 17th. StockNews.com upgraded shares of Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Piper Sandler lifted their target price on shares of Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods lowered shares of Veritex from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 24th. Finally, Stephens lifted their target price on shares of Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.40.

Veritex Trading Up 0.1 %

Shares of VBTX stock opened at $27.03 on Monday. Veritex Holdings, Inc. has a 12-month low of $17.43 and a 12-month high of $28.46. The company has a market capitalization of $1.47 billion, a P/E ratio of 17.33 and a beta of 1.36. The firm has a 50-day moving average price of $25.77 and a 200 day moving average price of $22.93. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The firm had revenue of $113.17 million during the quarter, compared to the consensus estimate of $110.22 million. During the same period last year, the firm posted $0.60 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts forecast that Veritex Holdings, Inc. will post 2.14 earnings per share for the current fiscal year.

Veritex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, November 8th. Veritex’s dividend payout ratio is presently 51.28%.

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.