Dynamic Technology Lab Private Ltd Invests $847,000 in Veritex Holdings, Inc. (NASDAQ:VBTX)

Dynamic Technology Lab Private Ltd bought a new position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 31,190 shares of the financial services provider's stock, valued at approximately $847,000. Dynamic Technology Lab Private Ltd owned about 0.06% of Veritex at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its stake in Veritex by 14.7% in the fourth quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider's stock valued at $91,000 after purchasing an additional 431 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Veritex by 9.8% during the 4th quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider's stock worth $146,000 after buying an additional 481 shares during the period. Franklin Resources Inc. grew its stake in Veritex by 1.0% in the third quarter. Franklin Resources Inc. now owns 73,421 shares of the financial services provider's stock valued at $1,920,000 after acquiring an additional 701 shares during the period. Teacher Retirement System of Texas increased its holdings in Veritex by 6.6% during the 4th quarter. Teacher Retirement System of Texas now owns 17,020 shares of the financial services provider's stock worth $462,000 after purchasing an additional 1,050 shares in the last quarter. Finally, USA Financial Formulas acquired a new position in Veritex during the 4th quarter worth approximately $32,000. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Stephens lowered their price objective 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. DA Davidson reiterated a "buy" rating and issued a $34.00 price target on shares of Veritex in a research note on Monday, March 17th. Raymond James downgraded shares of Veritex from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the stock from $31.00 to $28.00 in a research note on Wednesday, April 2nd. Finally, 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 report on Thursday, January 30th. Three equities research 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 stock has a consensus rating of "Moderate Buy" and an average target price of $30.90.

Veritex Stock Performance

Shares of NASDAQ VBTX traded down $0.32 during mid-day trading on Friday, reaching $20.72. 124,562 shares of the company were exchanged, compared to its average volume of 386,160. Veritex Holdings, Inc. has a twelve month low of $18.74 and a twelve month high of $31.62. The stock has a market capitalization of $1.13 billion, a P/E ratio of 10.61 and a beta of 1.11. The company's 50-day simple moving average is $24.89 and its 200-day simple moving average is $26.68. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.02). Veritex had a return on equity of 7.59% and a net margin of 13.44%. As a group, research analysts predict that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.20 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.80 annualized dividend and a dividend yield of 3.86%. Veritex's dividend payout ratio (DPR) is presently 41.03%.

Veritex 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.