Raymond James & Associates Makes New $3.97 Million Investment in Veritex Holdings, Inc. (NASDAQ:VBTX)

Raymond James & Associates purchased a new stake in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 150,867 shares of the financial services provider's stock, valued at approximately $3,971,000. Raymond James & Associates owned 0.28% of Veritex as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new stake in shares of Veritex in the second quarter valued at about $25,000. Fidelis Capital Partners LLC purchased a new stake in Veritex during the 1st quarter worth approximately $29,000. CWM LLC increased its stake in Veritex by 1,302.9% during the 2nd quarter. CWM LLC now owns 3,339 shares of the financial services provider's stock worth $70,000 after buying an additional 3,101 shares in the last quarter. Point72 DIFC Ltd raised its holdings in shares of Veritex by 16.5% during the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider's stock valued at $122,000 after acquiring an additional 816 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Veritex in the first quarter valued at approximately $177,000. Hedge funds and other institutional investors own 88.31% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on VBTX. Keefe, Bruyette & Woods downgraded Veritex from an "outperform" rating to a "market perform" rating in a research note on Thursday, October 24th. StockNews.com upgraded shares of Veritex from a "sell" rating to a "hold" rating in a research report on Wednesday, October 30th. DA Davidson boosted their price target on shares of Veritex from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Piper Sandler increased their price objective on shares of Veritex from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Finally, Raymond James upgraded Veritex from a "market perform" rating to a "strong-buy" rating and set a $30.00 target price on the stock in a report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $29.40.

Veritex Trading Down 1.9 %

Shares of NASDAQ VBTX traded down $0.51 during midday trading on Monday, reaching $26.52. 229,091 shares of the stock were exchanged, compared to its average volume of 404,620. Veritex Holdings, Inc. has a twelve month low of $17.43 and a twelve month high of $28.46. The stock has a market capitalization of $1.44 billion, a P/E ratio of 17.33 and a beta of 1.36. The company has a 50 day simple moving average of $25.77 and a 200 day simple moving average of $22.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.04. The company had revenue of $113.17 million for the quarter, compared to the consensus estimate of $110.22 million. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. As a group, equities analysts expect that Veritex Holdings, Inc. will post 2.14 earnings per share for the current year.

Veritex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 3.02%. Veritex's payout ratio is currently 51.28%.

Insiders Place Their Bets

In related news, CEO C Malcolm Holland III sold 12,777 shares of Veritex stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $27.69, for a total value of $353,795.13. Following the completion of the sale, the chief executive officer now owns 224,132 shares in the company, valued at approximately $6,206,215.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.60% of the stock is currently owned by insiders.

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.