Veritex Holdings, Inc. (NASDAQ:VBTX) Position Trimmed by First Manhattan CO. LLC.

First Manhattan CO. LLC. cut its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX) by 6.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 426,975 shares of the financial services provider’s stock after selling 31,200 shares during the period. First Manhattan CO. LLC. owned about 0.78% of Veritex worth $11,597,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of VBTX. USA Financial Formulas bought a new stake in Veritex in the fourth quarter valued at $32,000. Quarry LP lifted its position in Veritex by 117.0% in the 4th quarter. Quarry LP now owns 1,528 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 824 shares during the last quarter. R Squared Ltd acquired a new position in Veritex during the 4th quarter valued at about $45,000. GAMMA Investing LLC grew its position in Veritex by 14.7% in the 4th quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 431 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Veritex by 73.5% during the fourth quarter. KBC Group NV now owns 3,826 shares of the financial services provider’s stock valued at $104,000 after buying an additional 1,621 shares during the last quarter. Institutional investors own 88.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on VBTX shares. Raymond James cut Veritex from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $31.00 to $28.00 in a research report on Wednesday, April 2nd. Hovde Group raised shares of Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price objective for the company in a report on Thursday, January 30th. Stephens reissued an “equal weight” rating and set a $30.00 target price on shares of Veritex in a research note on Wednesday, April 23rd. DA Davidson reduced their price target on shares of Veritex from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Veritex from $33.00 to $30.00 and set a “market perform” rating on the stock in a research note on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.25.

Veritex Price Performance

NASDAQ VBTX opened at $23.94 on Friday. Veritex Holdings, Inc. has a 1 year low of $18.74 and a 1 year high of $31.62. The business’s fifty day moving average is $23.34 and its two-hundred day moving average is $26.20. The stock has a market capitalization of $1.30 billion, a P/E ratio of 12.28 and a beta of 1.01. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.95.

Veritex (NASDAQ:VBTX) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $109.73 million during the quarter, compared to analyst estimates of $110.73 million. Veritex had a return on equity of 7.59% and a net margin of 13.44%. During the same quarter last year, the company posted $0.53 EPS. On average, research analysts forecast that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.68%. This is a boost from Veritex’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, May 8th. Veritex’s payout ratio is presently 43.14%.

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.