Silvercrest Asset Management Group LLC Invests $14.64 Million in Veritex Holdings, Inc. (NASDAQ:VBTX)

Silvercrest Asset Management Group LLC bought a new position in Veritex Holdings, Inc. (NASDAQ:VBTX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 539,180 shares of the financial services provider’s stock, valued at approximately $14,644,000.

Other hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. increased its holdings in Veritex by 9.8% during the fourth quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider’s stock valued at $146,000 after buying an additional 481 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Veritex by 1.0% in the third quarter. Franklin Resources Inc. now owns 73,421 shares of the financial services provider’s stock worth $1,920,000 after purchasing an additional 701 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Veritex by 7.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,166 shares of the financial services provider’s stock worth $303,000 after purchasing an additional 751 shares in the last quarter. Quarry LP increased its stake in shares of Veritex by 117.0% in the fourth quarter. Quarry LP now owns 1,528 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 824 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Veritex by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,863 shares of the financial services provider’s stock worth $811,000 after acquiring an additional 992 shares during the last quarter. 88.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Veritex Stock Down 0.0%

Shares of Veritex stock opened at $25.11 on Friday. The firm’s 50 day moving average price is $23.42 and its 200-day moving average price is $26.10. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. Veritex Holdings, Inc. has a 52-week low of $18.74 and a 52-week high of $31.62. The company has a market cap of $1.36 billion, a P/E ratio of 12.88 and a beta of 1.01.

Veritex (NASDAQ:VBTX) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Veritex had a net margin of 13.44% and a return on equity of 7.59%. The company had revenue of $109.73 million for the quarter, compared to the consensus estimate of $110.73 million. During the same quarter in the previous year, the firm earned $0.53 EPS. On average, sell-side analysts predict that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be paid a $0.22 dividend. This is a boost from Veritex’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Thursday, May 8th. Veritex’s payout ratio is currently 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.