Veritex Holdings, Inc. $VBTX Shares Acquired by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. has increased its holdings in Veritex Holdings, Inc. by 3.7%, owning 769,057 shares worth approximately $19.2 million.
• Veritex recently announced a quarterly dividend of $0.22 per share, resulting in an annualized yield of 2.6% and a payout ratio of 41.90%.
• Analysts have generally upgraded their ratings for Veritex, with five analysts giving it a "Buy" rating and raising price targets to an average of $33.25.

Charles Schwab Investment Management Inc. boosted its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 3.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 769,057 shares of the financial services provider's stock after buying an additional 27,783 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.42% of Veritex worth $19,203,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Veritex by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 3,931,593 shares of the financial services provider's stock valued at $98,172,000 after buying an additional 56,676 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Veritex by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,803,752 shares of the financial services provider's stock valued at $76,149,000 after buying an additional 125,189 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Veritex by 3.0% during the 1st quarter. Victory Capital Management Inc. now owns 2,040,856 shares of the financial services provider's stock valued at $50,960,000 after buying an additional 59,056 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Veritex by 57.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider's stock valued at $33,675,000 after buying an additional 454,015 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Veritex by 220.5% during the 4th quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider's stock valued at $26,247,000 after buying an additional 664,885 shares in the last quarter. Institutional investors own 88.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on VBTX shares. The Goldman Sachs Group started coverage on shares of Veritex in a report on Monday, July 14th. They set a "buy" rating for the company. William Blair upgraded shares of Veritex to an "outperform" rating in a report on Monday, July 14th. DA Davidson boosted their price target on shares of Veritex from $32.00 to $39.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Keefe, Bruyette & Woods boosted their price target on shares of Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Finally, Piper Sandler restated a "neutral" rating and issued a $34.00 price target (up previously from $30.00) on shares of Veritex in a report on Wednesday, July 16th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $33.25.

Insider Activity at Veritex

In other Veritex news, EVP Angela Harper sold 47,716 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $32.37, for a total transaction of $1,544,566.92. Following the sale, the executive vice president 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Sughrue sold 5,669 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $32.00, for a total transaction of $181,408.00. Following the sale, the director directly owned 50,652 shares in the company, valued at approximately $1,620,864. This represents a 10.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 320,699 shares of company stock worth $10,361,627 in the last 90 days. 4.30% of the stock is owned by insiders.

Veritex Stock Up 0.1%

Shares of Veritex stock traded up $0.03 on Thursday, reaching $34.36. The stock had a trading volume of 492,369 shares, compared to its average volume of 739,352. The company has a 50 day moving average price of $30.42 and a 200 day moving average price of $26.34. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.20. Veritex Holdings, Inc. has a 1 year low of $20.37 and a 1 year high of $34.46. The stock has a market capitalization of $1.88 billion, a P/E ratio of 16.36 and a beta of 1.08.

Veritex (NASDAQ:VBTX - Get Free Report) last released its 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. The company had revenue of $109.83 million for the quarter, compared to the consensus estimate of $110.91 million. Veritex had a net margin of 14.83% and a return on equity of 7.55%. During the same quarter in the previous year, the firm earned $0.52 EPS. As a group, equities research analysts forecast that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Dividend Announcement

The business 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. This represents a $0.88 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, August 7th. Veritex's payout ratio is currently 41.90%.

Veritex 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.