SG Americas Securities LLC Acquires New Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

SG Americas Securities LLC bought a new position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 43,435 shares of the financial services provider’s stock, valued at approximately $1,085,000. SG Americas Securities LLC owned approximately 0.08% of Veritex as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in VBTX. Millennium Management LLC boosted its position in shares of Veritex by 220.5% during the 4th quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider’s stock valued at $26,247,000 after acquiring an additional 664,885 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new stake in Veritex during the fourth quarter valued at approximately $14,644,000. Nuveen Asset Management LLC lifted its position in Veritex by 57.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider’s stock valued at $33,675,000 after purchasing an additional 454,015 shares during the last quarter. Schroder Investment Management Group purchased a new position in Veritex in the 4th quarter worth approximately $11,172,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Veritex in the 4th quarter worth $6,975,000. 88.31% of the stock is currently owned by institutional investors.

Veritex Price Performance

Shares of Veritex stock opened at $24.02 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 0.94. Veritex Holdings, Inc. has a 52-week low of $19.78 and a 52-week high of $31.62. The company has a fifty day moving average of $23.71 and a 200-day moving average of $25.35. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 11.77 and a beta of 1.02.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Veritex had a net margin of 14.12% and a return on equity of 7.51%. The business had revenue of $109.73 million during the quarter, compared to the consensus estimate of $110.73 million. During the same period in the previous year, the firm posted $0.53 earnings per share. Equities research analysts expect that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Thursday, May 8th. This is a positive change from Veritex’s previous quarterly dividend of $0.20. Veritex’s payout ratio is 43.14%.

Analysts Set New Price Targets

VBTX has been the topic of several research reports. Keefe, Bruyette & Woods lowered their price objective on shares of Veritex from $33.00 to $30.00 and set a “market perform” rating on the stock in a research report on Thursday, April 24th. Raymond James Financial cut Veritex from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $31.00 to $28.00 in a research note on Wednesday, April 2nd. Stephens reaffirmed an “equal weight” rating and set a $30.00 price target on shares of Veritex in a research note on Wednesday, April 23rd. Finally, DA Davidson cut 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. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.25.

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.