American Century Companies Inc. Has $19.03 Million Position in Veritex Holdings, Inc. $VBTX

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. lessened its holdings in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 762,170 shares of the financial services provider's stock after selling 27,739 shares during the period. American Century Companies Inc. owned 1.40% of Veritex worth $19,031,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Veritex during the first quarter worth approximately $31,000. Quarry LP raised its holdings in Veritex by 117.0% during the fourth quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock worth $42,000 after purchasing an additional 824 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in Veritex during the fourth quarter worth approximately $143,000. EP Wealth Advisors LLC bought a new stake in Veritex during the fourth quarter worth approximately $231,000. Finally, Point72 Asset Management L.P. raised its holdings in Veritex by 92.6% during the fourth quarter. Point72 Asset Management L.P. now owns 8,884 shares of the financial services provider's stock worth $241,000 after purchasing an additional 4,271 shares in the last quarter. Institutional investors own 88.31% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. The Goldman Sachs Group assumed coverage on Veritex in a report on Monday, July 14th. They set a "buy" rating on the stock. DA Davidson boosted their target price on Veritex from $32.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. William Blair raised Veritex to an "outperform" rating in a report on Monday, July 14th. Piper Sandler restated a "neutral" rating and issued a $34.00 price target (up previously from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. Finally, 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 research report on Tuesday, July 22nd. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Veritex presently has an average rating of "Moderate Buy" and a consensus price target of $33.25.

Veritex Stock Down 0.0%

Shares of VBTX stock traded down $0.01 on Friday, hitting $34.35. The company's stock had a trading volume of 457,923 shares, compared to its average volume of 722,118. 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 Holdings, Inc. has a fifty-two week low of $20.37 and a fifty-two week high of $34.56. The firm's fifty day moving average price is $30.62 and its 200-day moving average price is $26.39. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 16.36 and a beta of 1.08.

Veritex (NASDAQ:VBTX - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.02. Veritex had a net margin of 14.83% and a return on equity of 7.55%. The business had revenue of $109.83 million during the quarter, compared to analyst estimates of $110.91 million. During the same quarter in the previous year, the business earned $0.52 EPS. Research analysts anticipate that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were given a dividend of $0.22 per share. 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 payout ratio is currently 41.90%.

Insider Activity

In other Veritex news, Director Arcilia Acosta sold 7,279 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $32.14, for a total transaction of $233,947.06. Following the completion of the transaction, the director owned 54,933 shares of the company's stock, valued at $1,765,546.62. The trade was a 11.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Lavonda Renfro sold 53,411 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $32.38, for a total transaction of $1,729,448.18. Following the transaction, the chief operating officer directly owned 60,209 shares of the company's stock, valued at $1,949,567.42. This represents a 47.01% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 320,699 shares of company stock worth $10,361,627. Insiders own 4.30% of the company's stock.

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.