Hillsdale Investment Management Inc. Makes New Investment in Veritex Holdings, Inc. (NASDAQ:VBTX)

Hillsdale Investment Management Inc. purchased a new stake in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 139,800 shares of the financial services provider's stock, valued at approximately $3,797,000. Hillsdale Investment Management Inc. owned approximately 0.26% of Veritex as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Veritex by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider's stock worth $34,064,000 after acquiring an additional 18,185 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Veritex by 1.9% in the 4th quarter. American Century Companies Inc. now owns 789,909 shares of the financial services provider's stock valued at $21,454,000 after purchasing an additional 14,924 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Veritex by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 741,274 shares of the financial services provider's stock worth $20,133,000 after purchasing an additional 8,409 shares in the last quarter. Wellington Management Group LLP raised 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 period. Finally, JPMorgan Chase & Co. lifted its stake in Veritex by 24.1% during the third quarter. JPMorgan Chase & Co. now owns 631,372 shares of the financial services provider's stock valued at $16,618,000 after buying an additional 122,809 shares in the last quarter. Institutional investors and hedge funds own 88.31% of the company's stock.

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Veritex Stock Down 0.6 %

VBTX stock traded down $0.16 during midday trading on Thursday, reaching $24.83. The company had a trading volume of 205,969 shares, compared to its average volume of 354,005. The company has a 50 day moving average of $25.84 and a two-hundred day moving average of $26.90. The company has a market capitalization of $1.35 billion, a P/E ratio of 12.73 and a beta of 1.36. Veritex Holdings, Inc. has a 1 year low of $18.74 and a 1 year high of $31.62. 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 - Get Free Report) last announced 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%. On average, equities research analysts expect that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The firm also recently announced 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 3.22%. The ex-dividend date of this dividend was Friday, February 14th. Veritex's dividend payout ratio is 41.03%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Stephens dropped their target price on shares of Veritex from $34.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 30th. DA Davidson reiterated a "buy" rating and set a $34.00 price objective on shares of Veritex in a research report on Monday, March 17th. Hovde Group upgraded Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 target price for the company in a report on Thursday, January 30th. Finally, Raymond James lowered their price target on Veritex from $32.00 to $31.00 and set a "strong-buy" rating on the stock in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $31.50.

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.