Veritex Holdings, Inc. $VBTX Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its holdings in Veritex Holdings by 3.5%, now owning approximately 1.40% of the company, valued at $19.03 million.
• The company recently declared a quarterly dividend of $0.22 per share, which represents an annualized yield of 2.6% and a payout ratio of 41.90%.
• Veritex's stock has seen price target upgrades, with analysts like DA Davidson raising their target from $32.00 to $39.00, reflecting bullish sentiment on its current performance.

American Century Companies Inc. reduced its stake in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 762,170 shares of the financial services provider's stock after selling 27,739 shares during the period. American Century Companies Inc. owned approximately 1.40% of Veritex worth $19,031,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in shares of Veritex by 37.9% during the 4th quarter. Wells Fargo & Company MN now owns 34,758 shares of the financial services provider's stock valued at $944,000 after purchasing an additional 9,559 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Veritex by 6.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 53,767 shares of the financial services provider's stock valued at $1,460,000 after buying an additional 3,112 shares during the period. Barclays PLC lifted its holdings in shares of Veritex by 5.1% during the 4th quarter. Barclays PLC now owns 123,585 shares of the financial services provider's stock worth $3,356,000 after acquiring an additional 5,976 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Veritex by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,803,752 shares of the financial services provider's stock valued at $76,149,000 after acquiring an additional 125,189 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in Veritex by 3.7% in the fourth quarter. MetLife Investment Management LLC now owns 32,140 shares of the financial services provider's stock worth $873,000 after purchasing an additional 1,144 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors.

Veritex Stock Performance

Veritex stock traded up $0.42 during mid-day trading on Tuesday, reaching $33.68. 755,491 shares of the stock traded hands, compared to its average volume of 727,230. The business's 50-day moving average is $30.01 and its 200-day moving average is $26.23. The stock has a market capitalization of $1.84 billion, a PE ratio of 16.04 and a beta of 1.08. Veritex Holdings, Inc. has a 12-month low of $20.37 and a 12-month high of $33.72. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.96.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. Veritex had a return on equity of 7.55% and a net margin of 14.83%.The business had revenue of $109.83 million during the quarter, compared to the consensus estimate of $110.91 million. During the same period in the prior year, the company posted $0.52 EPS. As a group, sell-side analysts predict 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 Thursday, August 21st. Investors of record on Thursday, August 7th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. Veritex's dividend payout ratio is 41.90%.

Insider Activity

In other Veritex news, EVP Angela Harper sold 47,716 shares of Veritex stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $32.37, for a total value of $1,544,566.92. Following the transaction, the executive vice president directly owned 59,683 shares of the company's stock, valued at approximately $1,931,938.71. The trade was a 44.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fallon William sold 7,220 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $30.68, for a total transaction of $221,509.60. Following the completion of the sale, the director owned 14,191 shares in the company, valued at $435,379.88. The trade was a 33.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 320,699 shares of company stock worth $10,361,627 over the last ninety days. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

VBTX has been the subject of several recent analyst reports. Piper Sandler restated a "neutral" rating and issued a $34.00 price target (up from $30.00) on shares of Veritex in a report on Wednesday, July 16th. DA Davidson lifted their price objective on shares of Veritex from $32.00 to $39.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. William Blair raised Veritex to an "outperform" rating in a report on Monday, July 14th. Keefe, Bruyette & Woods lifted their price target on shares of Veritex from $30.00 to $37.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. Finally, The Goldman Sachs Group initiated coverage on Veritex in a research report on Monday, July 14th. They issued a "buy" rating for the company. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $33.25.

Veritex Company 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.