GAMMA Investing LLC Purchases 84,085 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

GAMMA Investing LLC boosted its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 2,502.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 87,445 shares of the financial services provider’s stock after acquiring an additional 84,085 shares during the period. GAMMA Investing LLC owned 0.16% of Veritex worth $2,184,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP increased its position 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 valued at $42,000 after buying an additional 824 shares during the period. Aquatic Capital Management LLC bought a new stake in shares of Veritex during the fourth quarter valued at about $143,000. Meeder Asset Management Inc. increased its position in shares of Veritex by 9.8% during 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 during the period. Bailard Inc. bought a new stake in shares of Veritex during the fourth quarter valued at about $215,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of Veritex during the fourth quarter valued at about $231,000. 88.31% of the stock is currently owned by institutional investors.

Veritex Stock Performance

NASDAQ:VBTX opened at $24.47 on Friday. The firm has a market cap of $1.33 billion, a PE ratio of 12.55 and a beta of 1.02. Veritex Holdings, Inc. has a fifty-two week low of $19.27 and a fifty-two week high of $31.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.95. The business has a 50 day moving average price of $23.62 and a 200-day moving average price of $25.48.

Veritex (NASDAQ:VBTX) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $109.73 million during the quarter, compared to analyst estimates 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 prior year, the firm posted $0.53 earnings per share. Equities research 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 was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Thursday, May 8th. This is an increase from Veritex’s previous quarterly dividend of $0.20. Veritex’s dividend payout ratio is currently 43.14%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VBTX. DA Davidson decreased their price target on Veritex from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Stephens reiterated an “equal weight” rating and set a $30.00 price target on shares of Veritex in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods cut their price objective on Veritex from $33.00 to $30.00 and set a “market perform” rating for the company in a report on Thursday, April 24th. Finally, Raymond James lowered Veritex from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $31.00 to $28.00 in a report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.25.

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.