Envestnet Asset Management Inc. Acquires 3,112 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

Envestnet Asset Management Inc. grew its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 6.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 53,767 shares of the financial services provider’s stock after acquiring an additional 3,112 shares during the quarter. Envestnet Asset Management Inc. owned about 0.10% of Veritex worth $1,460,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of VBTX. USA Financial Formulas acquired a new position in shares of Veritex during the fourth quarter worth $32,000. R Squared Ltd acquired a new stake in shares of Veritex in the 4th quarter valued at about $45,000. GAMMA Investing LLC increased its holdings in shares of Veritex by 14.7% during the fourth quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 431 shares in the last quarter. KBC Group NV raised its holdings in Veritex by 73.5% during the fourth quarter. KBC Group NV now owns 3,826 shares of the financial services provider’s stock worth $104,000 after buying an additional 1,621 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in Veritex by 9.8% in the 4th quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 481 shares in the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Veritex from $33.00 to $30.00 and set a “market perform” rating on the stock in a report on Thursday, April 24th. DA Davidson decreased their price objective on Veritex from $34.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Hovde Group raised Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price target for the company in a report on Thursday, January 30th. Raymond James lowered shares of Veritex from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $31.00 to $28.00 in a report on Wednesday, April 2nd. Finally, Stephens restated an “equal weight” rating and issued a $30.00 price objective on shares of Veritex in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.25.

Veritex Price Performance

VBTX stock opened at $23.40 on Wednesday. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 12.00 and a beta of 1.11. Veritex Holdings, Inc. has a 12-month low of $18.74 and a 12-month high of $31.62. The firm’s 50-day moving average price is $23.69 and its two-hundred day moving average price is $26.38. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The business had revenue of $109.73 million during the quarter, compared to analyst estimates of $110.73 million. Veritex had a net margin of 13.44% and a return on equity of 7.59%. During the same period last year, the business posted $0.53 earnings per share. As a group, equities analysts predict that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.76%. This is a positive change from Veritex’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, May 8th. Veritex’s dividend payout ratio (DPR) is presently 43.14%.

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.