Cresset Asset Management LLC Decreases Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

Cresset Asset Management LLC lessened its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,170 shares of the financial services provider’s stock after selling 450 shares during the period. Cresset Asset Management LLC owned approximately 0.10% of Veritex worth $1,444,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of VBTX. Vanguard Group Inc. lifted its holdings in Veritex by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 3,874,917 shares of the financial services provider’s stock worth $105,243,000 after acquiring an additional 39,746 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Veritex by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,803,752 shares of the financial services provider’s stock worth $76,149,000 after purchasing an additional 125,189 shares during the period. American Century Companies Inc. boosted its holdings in shares of Veritex by 1.9% in the 4th quarter. American Century Companies Inc. now owns 789,909 shares of the financial services provider’s stock worth $21,454,000 after buying an additional 14,924 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Veritex by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 741,274 shares of the financial services provider’s stock valued at $20,133,000 after buying an additional 8,409 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Veritex by 12.9% during the fourth quarter. JPMorgan Chase & Co. now owns 712,727 shares of the financial services provider’s stock worth $19,358,000 after buying an additional 81,355 shares during the last quarter. 88.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on VBTX. Stephens reissued 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 raised Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 target price for the company in a research report on Thursday, January 30th. DA Davidson dropped their price target on Veritex from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods decreased their price objective on Veritex from $33.00 to $30.00 and set a “market perform” rating for the company in a report on Thursday, April 24th. Finally, Raymond James downgraded shares of Veritex from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $31.00 to $28.00 in a report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.25.

Veritex Stock Performance

Shares of VBTX opened at $23.94 on Friday. Veritex Holdings, Inc. has a 52-week low of $18.74 and a 52-week high of $31.62. The stock’s 50-day simple moving average is $23.34 and its 200 day simple moving average is $26.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.95. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 12.28 and a beta of 1.01.

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

Veritex Increases Dividend

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

Veritex 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.