Veritex Holdings, Inc. (NASDAQ:VBTX) Shares Bought by Millennium Management LLC

Millennium Management LLC grew its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX) by 56.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 292,499 shares of the financial services provider’s stock after acquiring an additional 105,261 shares during the quarter. Millennium Management LLC’s holdings in Veritex were worth $6,169,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new stake in Veritex during the 2nd quarter worth about $25,000. Fidelis Capital Partners LLC purchased a new stake in shares of Veritex in the 1st quarter valued at $29,000. CWM LLC boosted its stake in shares of Veritex by 1,302.9% in the second 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 during the last quarter. Point72 DIFC Ltd grew its holdings in Veritex by 16.5% during the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 816 shares during the period. Finally, Clear Street Markets LLC purchased a new position in Veritex during the fourth quarter valued at approximately $198,000. Institutional investors and hedge funds own 88.31% of the company’s stock.

Veritex Stock Down 0.2 %

VBTX opened at $25.32 on Friday. The company has a 50-day moving average price of $24.22 and a 200 day moving average price of $22.05. Veritex Holdings, Inc. has a twelve month low of $15.93 and a twelve month high of $26.72. The company has a market cap of $1.38 billion, a PE ratio of 14.74 and a beta of 1.37. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.15.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). Veritex had a net margin of 11.52% and a return on equity of 7.97%. The firm had revenue of $106.81 million during the quarter, compared to analyst estimates of $108.39 million. During the same period in the prior year, the company posted $0.64 earnings per share. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. Sell-side analysts expect that Veritex Holdings, Inc. will post 2.13 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.16%. Veritex’s payout ratio is presently 46.51%.

Wall Street Analysts Forecast Growth

VBTX has been the topic of several recent research reports. DA Davidson restated a “buy” rating and issued a $29.00 price objective on shares of Veritex in a research report on Wednesday, August 28th. Stephens increased their target price on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Raymond James raised Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a report on Tuesday, September 17th. Finally, Piper Sandler increased their price target on Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

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.