Charles Schwab Investment Management Inc. Raises Stock Holdings in Veritex Holdings, Inc. $VBTX

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. lifted its holdings in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 3.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 769,057 shares of the financial services provider's stock after acquiring 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SummerHaven Investment Management LLC raised its holdings in Veritex by 1.5% in the 1st quarter. SummerHaven Investment Management LLC now owns 37,056 shares of the financial services provider's stock valued at $925,000 after acquiring an additional 536 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Veritex by 7.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,166 shares of the financial services provider's stock valued at $303,000 after acquiring an additional 751 shares in the last quarter. Quarry LP raised its holdings in Veritex by 117.0% in the 4th quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 824 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Veritex by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,863 shares of the financial services provider's stock valued at $811,000 after acquiring an additional 992 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Veritex by 6.9% in the 1st quarter. New York State Common Retirement Fund now owns 15,425 shares of the financial services provider's stock valued at $385,000 after acquiring an additional 1,000 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Veritex

In other Veritex news, Director John Sughrue sold 5,669 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $32.00, for a total value of $181,408.00. Following the transaction, the director owned 50,652 shares in the company, valued at approximately $1,620,864. This represents a 10.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arcilia Acosta sold 7,279 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $32.14, for a total value of $233,947.06. Following the completion of the transaction, the director owned 54,933 shares in the company, valued at approximately $1,765,546.62. The trade was a 11.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 320,699 shares of company stock valued at $10,361,627 over the last ninety days. Insiders own 4.30% of the company's stock.

Veritex Price Performance

VBTX traded up $0.42 on Tuesday, reaching $33.68. The stock had a trading volume of 755,195 shares, compared to its average volume of 574,252. Veritex Holdings, Inc. has a fifty-two week low of $20.37 and a fifty-two week high of $33.72. The firm has a 50-day moving average of $29.82 and a 200-day moving average of $26.18. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 16.04 and a beta of 1.08.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.02. The business had revenue of $109.83 million during the quarter, compared to analysts' expectations of $110.91 million. Veritex had a return on equity of 7.55% and a net margin of 14.83%.During the same quarter in the prior year, the firm earned $0.52 EPS. As a group, sell-side analysts anticipate that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $0.88 annualized dividend and a yield of 2.6%. Veritex's dividend payout ratio (DPR) is currently 41.90%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VBTX. Keefe, Bruyette & Woods lifted their price objective on Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group initiated coverage on Veritex in a report on Monday, July 14th. They set a "buy" rating for the company. DA Davidson boosted their price target 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. Finally, Piper Sandler reissued a "neutral" rating and set a $34.00 price target (up previously from $30.00) on shares of Veritex in a report on Wednesday, July 16th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Veritex currently has a consensus 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.