Hillsdale Investment Management Inc. Makes New Investment in Veritex Holdings, Inc. (NASDAQ:VBTX)

Hillsdale Investment Management Inc. purchased a new stake in Veritex Holdings, Inc. (NASDAQ:VBTX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 139,800 shares of the financial services provider’s stock, valued at approximately $3,797,000. Hillsdale Investment Management Inc. owned approximately 0.26% of Veritex at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in VBTX. USA Financial Formulas acquired a new position in Veritex in the 4th quarter valued at $32,000. R Squared Ltd bought a new position in shares of Veritex in the fourth quarter worth $45,000. GAMMA Investing LLC raised its stake in Veritex by 14.7% in the fourth quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 431 shares in the last quarter. Systematic Financial Management LP bought a new stake in Veritex during the third quarter worth about $98,000. Finally, KBC Group NV grew 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 in the last quarter. 88.31% of the stock is currently owned by institutional investors.

Veritex Stock Performance

NASDAQ VBTX opened at $24.52 on Friday. Veritex Holdings, Inc. has a fifty-two week low of $18.74 and a fifty-two week high of $31.62. The stock has a market cap of $1.34 billion, a PE ratio of 12.57 and a beta of 1.36. 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 firm’s fifty day moving average price is $25.89 and its two-hundred day moving average price is $26.88.

Veritex (NASDAQ:VBTX) last issued its 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%. On average, equities analysts expect that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.20 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.26%. Veritex’s dividend payout ratio (DPR) is presently 41.03%.

Wall Street Analyst Weigh In

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

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.