Veritex Holdings, Inc. $VBTX Shares Sold by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in Veritex Holdings, Inc. by 4.6%, now holding approximately 491,660 shares valued at $12.27 million.
• Veritex's stock price recently increased by 4.3%, closing at $33.45, and has experienced a 12-month high of $33.69.
• The company declared a quarterly dividend of $0.22, reflecting an annual yield of 2.6%, with a payout ratio of 41.90%.

Hotchkis & Wiley Capital Management LLC cut its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 4.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 491,660 shares of the financial services provider's stock after selling 23,500 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.91% of Veritex worth $12,277,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Veritex by 1.5% during the first quarter. Vanguard Group Inc. now owns 3,931,593 shares of the financial services provider's stock valued at $98,172,000 after acquiring an additional 56,676 shares during the last quarter. Dimensional Fund Advisors LP lifted its position 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 worth $76,149,000 after purchasing an additional 125,189 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Veritex by 3.0% during the first quarter. Victory Capital Management Inc. now owns 2,040,856 shares of the financial services provider's stock worth $50,960,000 after purchasing an additional 59,056 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Veritex by 57.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider's stock worth $33,675,000 after purchasing an additional 454,015 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Veritex during the first quarter worth about $29,215,000. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Stock Performance

VBTX stock traded up $0.12 during trading on Friday, hitting $34.48. The company had a trading volume of 138,616 shares, compared to its average volume of 572,794. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.89 billion, a PE ratio of 16.42 and a beta of 1.08. Veritex Holdings, Inc. has a 1-year low of $20.37 and a 1-year high of $34.54. The firm has a 50-day moving average price of $30.42 and a 200-day moving average price of $26.34.

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 (EPS) 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 company had revenue of $109.83 million for the quarter, compared to analysts' expectations of $110.91 million. During the same quarter in the previous year, the firm posted $0.52 EPS. On average, analysts expect that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Dividend Announcement

The firm 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 was Thursday, August 7th. This represents a $0.88 annualized dividend and a yield of 2.6%. Veritex's payout ratio is presently 41.90%.

Insider Activity at Veritex

In other Veritex news, insider Cara Mcdaniel sold 10,000 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $32.53, for a total transaction of $325,300.00. Following the transaction, the insider directly owned 17,372 shares in the company, valued at approximately $565,111.16. This represents a 36.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Arcilia Acosta sold 7,279 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $32.14, for a total transaction of $233,947.06. Following the transaction, the director owned 54,933 shares in the company, valued at $1,765,546.62. The trade was a 11.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 320,699 shares of company stock valued at $10,361,627 in the last ninety days. Company insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.