Meeder Asset Management Inc. Increases Stock Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Meeder Asset Management Inc. raised its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 9.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,366 shares of the financial services provider’s stock after acquiring an additional 481 shares during the period. Meeder Asset Management Inc.’s holdings in Veritex were worth $146,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VBTX. Schroder Investment Management Group purchased a new position in Veritex in the fourth quarter worth about $11,172,000. JPMorgan Chase & Co. raised its position in shares of Veritex by 12.9% during the fourth quarter. JPMorgan Chase & Co. now owns 712,727 shares of the financial services provider’s stock valued at $19,358,000 after buying an additional 81,355 shares during the last quarter. Prudential Financial Inc. lifted its stake in Veritex by 3.2% in the 4th quarter. Prudential Financial Inc. now owns 293,648 shares of the financial services provider’s stock worth $7,975,000 after purchasing an additional 9,115 shares in the last quarter. Tieton Capital Management LLC boosted its stake in Veritex by 23.3% during the fourth quarter. Tieton Capital Management LLC now owns 325,383 shares of the financial services provider’s stock valued at $8,837,000 after buying an additional 61,435 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Veritex by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 3,874,917 shares of the financial services provider’s stock valued at $105,243,000 after purchasing an additional 39,746 shares in the last quarter. Institutional investors own 88.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Stephens dropped their target price on Veritex from $34.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. Hovde Group raised shares of Veritex from a “market perform” rating to an “outperform” rating and set a $31.50 target price on the stock in a research report on Thursday, January 30th. DA Davidson restated a “buy” rating and issued a $34.00 price objective on shares of Veritex in a report on Monday, March 17th. Finally, Raymond James lowered their target price on Veritex from $32.00 to $31.00 and set a “strong-buy” rating for the company in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Veritex presently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Veritex Stock Up 2.0 %

NASDAQ VBTX opened at $24.97 on Tuesday. The business has a fifty day moving average price of $25.75 and a 200 day moving average price of $26.93. 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 company has a market cap of $1.36 billion, a P/E ratio of 12.81 and a beta of 1.36. Veritex Holdings, Inc. has a one year low of $18.74 and a one year high of $31.62.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share (EPS) 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%. Research analysts anticipate that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.20%. The ex-dividend date was Friday, February 14th. Veritex’s payout ratio is currently 41.03%.

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.