56,221 Shares in Veritex Holdings, Inc. (NASDAQ:VBTX) Purchased by Solutions 4 Wealth Ltd

Solutions 4 Wealth Ltd acquired a new position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 56,221 shares of the financial services provider’s stock, valued at approximately $1,308,000. Veritex comprises approximately 4.3% of Solutions 4 Wealth Ltd’s holdings, making the stock its 8th largest holding. Solutions 4 Wealth Ltd owned about 0.10% of Veritex as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Ziegler Capital Management LLC bought a new position in shares of Veritex during the 4th quarter worth $3,443,000. Assenagon Asset Management S.A. bought a new position in Veritex during the third quarter worth about $1,012,000. Victory Capital Management Inc. increased its stake in shares of Veritex by 33.1% in the third quarter. Victory Capital Management Inc. now owns 1,722,331 shares of the financial services provider’s stock worth $30,916,000 after purchasing an additional 427,922 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Veritex by 334.0% in the third quarter. AQR Capital Management LLC now owns 242,809 shares of the financial services provider’s stock valued at $4,358,000 after purchasing an additional 186,857 shares during the period. Finally, Vest Financial LLC purchased a new stake in shares of Veritex during the 4th quarter valued at approximately $240,000. Institutional investors own 88.31% of the company’s stock.

Veritex Price Performance

Shares of Veritex stock traded up $0.50 during trading on Thursday, hitting $20.50. The stock had a trading volume of 974,325 shares, compared to its average volume of 446,366. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.21. Veritex Holdings, Inc. has a 12 month low of $14.88 and a 12 month high of $24.46. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 11.63 and a beta of 1.33. The business’s 50-day moving average is $19.82 and its 200 day moving average is $20.33.

Veritex (NASDAQ:VBTX) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). The business had revenue of $191.25 million during the quarter, compared to the consensus estimate of $109.70 million. Veritex had a return on equity of 8.46% and a net margin of 12.47%. During the same quarter in the prior year, the company earned $0.79 earnings per share. As a group, sell-side analysts anticipate that Veritex Holdings, Inc. will post 2.19 earnings per share for the current year.

Veritex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Thursday, May 9th. Veritex’s dividend payout ratio is currently 46.51%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VBTX. Stephens reissued an “equal weight” rating and set a $24.00 target price on shares of Veritex in a report on Wednesday, April 24th. Keefe, Bruyette & Woods decreased their price objective on Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, January 25th. Piper Sandler raised their target price on Veritex from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $24.38.

About Veritex

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.