Raymond James Financial Services Advisors Inc. purchased a new stake in Veritex Holdings Inc (NASDAQ:VBTX) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 23,183 shares of the financial services provider’s stock, valued at approximately $561,000.
A number of other hedge funds also recently bought and sold shares of VBTX. Penn Capital Management Co. Inc. bought a new position in shares of Veritex during the 1st quarter worth approximately $7,033,000. Everence Capital Management Inc. bought a new position in shares of Veritex during the 1st quarter worth approximately $316,000. IndexIQ Advisors LLC bought a new position in shares of Veritex during the 1st quarter worth approximately $1,568,000. American International Group Inc. boosted its stake in Veritex by 84.5% in the 1st quarter. American International Group Inc. now owns 33,482 shares of the financial services provider’s stock valued at $811,000 after purchasing an additional 15,330 shares during the period. Finally, Stephens Inc. AR boosted its stake in Veritex by 16.6% in the 1st quarter. Stephens Inc. AR now owns 38,469 shares of the financial services provider’s stock valued at $932,000 after purchasing an additional 5,471 shares during the period. Hedge funds and other institutional investors own 76.00% of the company’s stock.
Several research firms recently issued reports on VBTX. Zacks Investment Research upgraded Veritex from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Friday, March 1st. BidaskClub upgraded Veritex from a “hold” rating to a “buy” rating in a research note on Friday, February 22nd. ValuEngine upgraded Veritex from a “sell” rating to a “hold” rating in a research note on Saturday, May 4th. Finally, Stephens restated a “buy” rating and issued a $32.00 price target on shares of Veritex in a research note on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Veritex presently has an average rating of “Buy” and a consensus target price of $32.25.
VBTX opened at $25.98 on Friday. The firm has a market capitalization of $1.41 billion, a P/E ratio of 14.12, a PEG ratio of 1.47 and a beta of 1.64. Veritex Holdings Inc has a 1 year low of $20.34 and a 1 year high of $33.08. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.27.
Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Monday, April 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01. The business had revenue of $81.40 million during the quarter, compared to the consensus estimate of $78.50 million. Veritex had a return on equity of 9.11% and a net margin of 16.31%. On average, research analysts expect that Veritex Holdings Inc will post 2.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were paid a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $0.50 annualized dividend and a yield of 1.92%. Veritex’s dividend payout ratio (DPR) is presently 27.17%.
In related news, CFO Terry Earley acquired 6,800 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was purchased at an average cost of $25.88 per share, with a total value of $175,984.00. Following the acquisition, the chief financial officer now directly owns 23,700 shares of the company’s stock, valued at $613,356. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gordon Huddleston acquired 1,000 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was bought at an average cost of $25.82 per share, with a total value of $25,820.00. Following the completion of the acquisition, the director now directly owns 8,223 shares in the company, valued at $212,317.86. The disclosure for this purchase can be found here. Insiders purchased a total of 26,571 shares of company stock valued at $686,096 over the last 90 days. 4.70% of the stock is currently owned by corporate insiders.
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Veritex Holdings, Inc operates as the holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company's deposit products include checking, demand, savings, money market, and time deposit accounts, as well as commercial deposit and financial institution money market accounts.
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