AlphaQuest LLC Increases Stock Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

AlphaQuest LLC boosted its stake in Veritex Holdings, Inc. (NASDAQ:VBTX) by 141,268.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,101 shares of the financial services provider’s stock after purchasing an additional 31,079 shares during the quarter. AlphaQuest LLC’s holdings in Veritex were worth $845,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of VBTX. Atria Investments Inc purchased a new stake in Veritex in the 3rd quarter worth $220,000. Victory Capital Management Inc. lifted its stake in Veritex by 0.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,978,219 shares of the financial services provider’s stock worth $52,067,000 after purchasing an additional 9,611 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Veritex by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 145,638 shares of the financial services provider’s stock worth $3,833,000 after buying an additional 7,370 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Veritex in the 3rd quarter worth about $215,000. Finally, Stieven Capital Advisors L.P. increased its holdings in shares of Veritex by 39.0% in the 3rd quarter. Stieven Capital Advisors L.P. now owns 561,636 shares of the financial services provider’s stock worth $14,782,000 after buying an additional 157,571 shares during the last quarter. Hedge funds and other institutional investors own 88.31% of the company’s stock.

Veritex Stock Performance

Shares of NASDAQ:VBTX opened at $23.47 on Tuesday. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 12.04 and a beta of 1.36. Veritex Holdings, Inc. has a 12 month low of $18.08 and a 12 month high of $31.62. The firm’s 50-day moving average is $26.22 and its 200 day moving average is $26.92. 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 earnings results on Tuesday, January 28th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Veritex had a return on equity of 7.59% and a net margin of 13.44%. Research analysts predict that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.41%. Veritex’s dividend payout ratio is currently 41.03%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Raymond James reduced their target price on shares of Veritex from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 30th. Hovde Group upgraded shares of Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 target price on the stock in a report on Thursday, January 30th. Stephens reduced their target price on shares of Veritex from $34.00 to $31.00 and set an “equal weight” rating on the stock in a report on Thursday, January 30th. Finally, DA Davidson cut their price target on shares of Veritex from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.50.

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.