Sippican Capital Advisors Acquires 400 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

Sippican Capital Advisors boosted its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 99,230 shares of the financial services provider’s stock after acquiring an additional 400 shares during the quarter. Veritex accounts for approximately 1.8% of Sippican Capital Advisors’ investment portfolio, making the stock its 16th biggest holding. Sippican Capital Advisors’ holdings in Veritex were worth $2,612,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VBTX. Assenagon Asset Management S.A. boosted its stake in shares of Veritex by 67.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider’s stock worth $21,248,000 after buying an additional 325,569 shares during the last quarter. Raymond James & Associates purchased a new position in Veritex during the third quarter valued at approximately $3,971,000. Vontobel Holding Ltd. purchased a new position in shares of Veritex during the 3rd quarter valued at $240,000. CWM LLC raised its holdings in shares of Veritex by 163.8% in the 3rd quarter. CWM LLC now owns 8,808 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 5,469 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Veritex during the third quarter worth about $949,000. 88.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VBTX. Raymond James upgraded shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research report on Tuesday, September 17th. Stephens increased their price objective on Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Piper Sandler upped their price target on shares of Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. DA Davidson upped their price objective on shares of Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods cut Veritex from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.40.

Veritex Trading Down 0.2 %

Shares of VBTX traded down $0.06 during trading hours on Thursday, reaching $27.30. 6,786 shares of the company traded hands, compared to its average volume of 404,404. Veritex Holdings, Inc. has a 12 month low of $16.93 and a 12 month high of $28.46. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 15.91 and a beta of 1.37. The company’s fifty day moving average price is $25.63 and its two-hundred day moving average price is $22.80. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

Veritex (NASDAQ:VBTX) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. The firm had revenue of $113.17 million during the quarter, compared to analyst estimates of $110.22 million. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 EPS. Equities research analysts predict that Veritex Holdings, Inc. will post 2.14 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.93%. Veritex’s dividend payout ratio (DPR) is currently 46.51%.

About Veritex

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.