Raymond James Financial Inc. Invests $6.97 Million in Veritex Holdings, Inc. (NASDAQ:VBTX)

Raymond James Financial Inc. purchased a new stake in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 256,784 shares of the financial services provider's stock, valued at approximately $6,974,000. Raymond James Financial Inc. owned about 0.47% of Veritex as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Atria Investments Inc acquired a new position in shares of Veritex in the 3rd quarter valued at $220,000. Mutual of America Capital Management LLC purchased a new position in shares of Veritex in the 3rd quarter valued at about $215,000. Intech Investment Management LLC boosted its position in Veritex by 16.9% during the third quarter. Intech Investment Management LLC now owns 25,391 shares of the financial services provider's stock worth $668,000 after purchasing an additional 3,671 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Veritex by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 732,865 shares of the financial services provider's stock valued at $19,289,000 after purchasing an additional 12,286 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of Veritex by 37.4% in the third quarter. BNP Paribas Financial Markets now owns 56,559 shares of the financial services provider's stock valued at $1,489,000 after buying an additional 15,403 shares in the last quarter. Hedge funds and other institutional investors own 88.31% of the company's stock.

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Veritex Trading Down 0.6 %

VBTX traded down $0.16 on Thursday, hitting $24.83. The company had a trading volume of 205,969 shares, compared to its average volume of 354,005. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.35 billion, a P/E ratio of 12.73 and a beta of 1.36. The company's fifty day moving average price is $25.84 and its 200 day moving average price is $26.90. Veritex Holdings, Inc. has a 1 year low of $18.74 and a 1 year high of $31.62.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its quarterly earnings data 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 return on equity of 7.59% and a net margin of 13.44%. As a group, equities analysts expect that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, February 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.22%. Veritex's dividend payout ratio (DPR) is presently 41.03%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on VBTX shares. Hovde Group raised shares of 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 their target price on shares of Veritex from $32.00 to $31.00 and set a "strong-buy" rating for the company in a research note on Thursday, January 30th. DA Davidson reaffirmed a "buy" rating and issued a $34.00 price target on shares of Veritex in a research note on Monday, March 17th. Finally, Stephens reduced their target price on Veritex from $34.00 to $31.00 and set an "equal weight" rating for the company in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Veritex currently has a consensus rating of "Moderate Buy" and an average target price 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.