1492 Capital Management LLC Sells 1,514 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

1492 Capital Management LLC trimmed its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 0.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 191,423 shares of the financial services provider’s stock after selling 1,514 shares during the quarter. Veritex makes up approximately 2.5% of 1492 Capital Management LLC’s investment portfolio, making the stock its 12th biggest position. 1492 Capital Management LLC’s holdings in Veritex were worth $5,199,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. USA Financial Formulas acquired a new stake in Veritex during the 4th quarter valued at approximately $32,000. R Squared Ltd bought a new stake in shares of Veritex in the 4th quarter valued at $45,000. GAMMA Investing LLC increased its position in shares of Veritex by 14.7% during the fourth quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock worth $91,000 after buying an additional 431 shares during the period. KBC Group NV raised its stake in Veritex by 73.5% during the fourth quarter. KBC Group NV now owns 3,826 shares of the financial services provider’s stock worth $104,000 after buying an additional 1,621 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in Veritex by 9.8% in 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 period. 88.31% of the stock is owned by institutional investors and hedge funds.

Veritex Stock Up 1.4 %

VBTX stock opened at $21.79 on Friday. The stock’s 50 day simple moving average is $24.31 and its 200 day simple moving average is $26.51. The company has a market cap of $1.19 billion, a P/E ratio of 11.17 and a beta of 1.11. 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 Holdings, Inc. has a fifty-two week low of $18.74 and a fifty-two week high of $31.62.

Veritex (NASDAQ:VBTX) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Veritex had a return on equity of 7.59% and a net margin of 13.44%. On average, research analysts expect that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Friday, February 14th. Veritex’s dividend payout ratio (DPR) is 41.03%.

Wall Street Analysts Forecast Growth

VBTX has been the subject of a number of recent analyst reports. Raymond James downgraded Veritex from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $31.00 to $28.00 in a report on Wednesday, April 2nd. DA Davidson reaffirmed a “buy” rating and set a $34.00 target price on shares of Veritex in a research note on Monday, March 17th. Stephens dropped their price target on Veritex from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Finally, Hovde Group upgraded Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 price target on the stock in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Veritex currently has a consensus rating of “Moderate Buy” and an average price target of $30.90.

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.