Connor Clark & Lunn Investment Management Ltd. Takes $1.08 Million Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 39,748 shares of the financial services provider’s stock, valued at approximately $1,080,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of Veritex at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of VBTX. Basswood Capital Management L.L.C. bought a new position in Veritex during the 3rd quarter worth approximately $11,139,000. Raymond James Financial Inc. bought a new position in Veritex during the 4th quarter worth approximately $6,974,000. JPMorgan Chase & Co. grew its position in Veritex by 24.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 631,372 shares of the financial services provider’s stock worth $16,618,000 after acquiring an additional 122,809 shares during the last quarter. Verition Fund Management LLC grew its position in Veritex by 748.1% during the 3rd quarter. Verition Fund Management LLC now owns 125,249 shares of the financial services provider’s stock worth $3,297,000 after acquiring an additional 110,480 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Veritex by 13.0% during the 3rd quarter. Wellington Management Group LLP now owns 680,766 shares of the financial services provider’s stock worth $17,918,000 after acquiring an additional 78,082 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. DA Davidson reiterated a “buy” rating and issued a $34.00 price objective on shares of Veritex in a report on Monday. Stephens dropped their price objective on Veritex from $34.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. 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 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 target price for the company in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.50.

Veritex Trading Down 0.9 %

VBTX opened at $24.48 on Friday. The business has a 50 day moving average of $25.88 and a 200-day moving average of $26.87. The stock has a market cap of $1.33 billion, a PE ratio of 12.55 and a beta of 1.36. Veritex Holdings, Inc. has a 52 week low of $18.74 and a 52 week high of $31.62. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings data 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 net margin of 13.44% and a return on equity of 7.59%. Equities research analysts predict that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Friday, February 14th. Veritex’s payout ratio is 41.03%.

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.