Veritex Holdings, Inc. (NASDAQ:VBTX) Stake Lessened by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP cut its stake in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 73.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,220 shares of the financial services provider's stock after selling 146,246 shares during the period. ExodusPoint Capital Management LP owned approximately 0.10% of Veritex worth $1,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Schroder Investment Management Group purchased a new position in shares of Veritex during the 4th quarter worth $11,172,000. Raymond James Financial Inc. acquired a new stake in shares of Veritex in the fourth quarter valued at $6,974,000. Hillsdale Investment Management Inc. purchased a new position in shares of Veritex in the 4th quarter valued at about $3,797,000. JPMorgan Chase & Co. raised its holdings in shares of Veritex by 24.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 631,372 shares of the financial services provider's stock valued at $16,618,000 after purchasing an additional 122,809 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Veritex by 13.0% during the 3rd quarter. Wellington Management Group LLP now owns 680,766 shares of the financial services provider's stock worth $17,918,000 after buying an additional 78,082 shares during the last quarter. 88.31% of the stock is owned by institutional investors and hedge funds.

Veritex Trading Up 3.3 %

Shares of VBTX stock traded up $0.71 during trading hours on Tuesday, hitting $21.83. 132,814 shares of the company were exchanged, compared to its average volume of 390,561. Veritex Holdings, Inc. has a 1 year low of $18.74 and a 1 year high of $31.62. The firm has a fifty day moving average of $24.64 and a 200 day moving average of $26.62. The firm has a market cap of $1.19 billion, a PE ratio of 11.18 and a beta of 1.11. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

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

Veritex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Friday, February 14th. Veritex's dividend payout ratio (DPR) is 41.03%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VBTX. Stephens cut their target price on Veritex from $34.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 30th. Hovde Group raised Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 price target for the company in a report on Thursday, January 30th. Raymond James cut shares of Veritex from a "strong-buy" rating to an "outperform" rating and dropped their target price for the company from $31.00 to $28.00 in a report on Wednesday, April 2nd. Finally, DA Davidson reissued a "buy" rating and set a $34.00 price objective on shares of Veritex in a research note on Monday, March 17th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.90.

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.