Duality Advisers LP Purchases New Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

Posted by Defense World Staff on Sep 18th, 2023

Duality Advisers LP purchased a new stake in Veritex Holdings, Inc. (NASDAQ:VBTX – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 36,995 shares of the financial services provider’s stock, valued at approximately $676,000. Duality Advisers LP owned 0.07% of Veritex at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in VBTX. Point72 Middle East FZE acquired a new position in Veritex in the 4th quarter valued at $31,000. Quarry LP grew its holdings in Veritex by 323.2% in the 1st quarter. Quarry LP now owns 1,676 shares of the financial services provider’s stock valued at $31,000 after buying an additional 1,280 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Veritex during the 1st quarter worth $33,000. Point72 Hong Kong Ltd acquired a new stake in shares of Veritex during the 1st quarter worth $41,000. Finally, Coppell Advisory Solutions Corp. acquired a new stake in shares of Veritex during the 4th quarter worth $41,000. Institutional investors own 87.29% of the company’s stock.

Veritex Price Performance

Shares of VBTX opened at $18.66 on Monday. Veritex Holdings, Inc. has a 1 year low of $14.88 and a 1 year high of $33.12. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 6.57 and a beta of 1.45. The business has a 50-day moving average of $19.67 and a 200-day moving average of $18.97.

Veritex (NASDAQ:VBTX – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.14). Veritex had a return on equity of 11.08% and a net margin of 22.77%. The company had revenue of $114.52 million for the quarter, compared to the consensus estimate of $117.40 million. As a group, equities research analysts anticipate that Veritex Holdings, Inc. will post 2.7 earnings per share for the current year.

Veritex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Thursday, August 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.29%. Veritex’s dividend payout ratio (DPR) is 28.17%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Stephens raised their price objective on Veritex from $21.00 to $23.00 in a research note on Thursday, July 27th. Hovde Group lowered Veritex from an “outperform” rating to a “market perform” rating and set a $20.50 price objective on the stock. in a research note on Wednesday, July 5th. Finally, StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.38.

Check Out Our Latest Analysis on Veritex

About Veritex

(Free Report)

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, consumer, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.