Ameriprise Financial Inc. Has $6.08 Million Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

Ameriprise Financial Inc. lessened its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 223,728 shares of the financial services provider’s stock after selling 13,692 shares during the period. Ameriprise Financial Inc. owned approximately 0.41% of Veritex worth $6,076,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP increased its holdings in shares of Veritex by 117.0% during the fourth quarter. Quarry LP now owns 1,528 shares of the financial services provider’s stock worth $42,000 after buying an additional 824 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Veritex in the fourth quarter valued at $45,000. KBC Group NV increased its stake in shares of Veritex by 73.5% in the fourth quarter. KBC Group NV now owns 3,826 shares of the financial services provider’s stock valued at $104,000 after buying an additional 1,621 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Veritex in the fourth quarter valued at $143,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Veritex by 9.8% in the fourth quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider’s stock valued at $146,000 after buying an additional 481 shares in the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.

Wall Street Analyst Weigh In

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

Veritex Stock Down 0.3%

NASDAQ VBTX opened at $23.98 on Friday. 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 Holdings, Inc. has a 1-year low of $18.74 and a 1-year high of $31.62. The company has a 50 day moving average of $23.43 and a 200-day moving average of $26.02. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 12.30 and a beta of 1.01.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $109.73 million during the quarter, compared to the consensus estimate of $110.73 million. Veritex had a return on equity of 7.59% and a net margin of 13.44%. During the same quarter in the previous year, the firm earned $0.53 earnings per share. On average, equities research analysts expect that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $0.88 annualized dividend and a dividend yield of 3.67%. This is an increase from Veritex’s previous quarterly dividend of $0.20. Veritex’s dividend payout ratio is currently 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.