Hotchkis & Wiley Capital Management LLC Reduces Stock Holdings in Veritex Holdings, Inc. $VBTX

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 reduced its position 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 filing with the Securities & Exchange Commission. The firm owned 491,660 shares of the financial services provider's stock after selling 23,500 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.91% of Veritex worth $12,277,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of VBTX. SummerHaven Investment Management LLC raised its position in shares of Veritex by 1.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 37,056 shares of the financial services provider's stock valued at $925,000 after purchasing an additional 536 shares during the period. Tower Research Capital LLC TRC grew its stake in Veritex by 7.2% during the fourth 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 grew its stake in Veritex by 117.0% during the fourth 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. grew its stake in shares of 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 worth $811,000 after buying an additional 992 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of 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 worth $385,000 after buying an additional 1,000 shares in the last quarter. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

Veritex Stock Performance

Shares of VBTX traded up $0.42 during trading hours on Tuesday, hitting $33.68. The stock had a trading volume of 755,491 shares, compared to its average volume of 727,230. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a 50-day moving average price of $30.01 and a 200 day moving average price of $26.23. 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 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 posted its earnings results 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. The firm had revenue of $109.83 million during the quarter, compared to analysts' expectations of $110.91 million. Veritex had a net margin of 14.83% and a return on equity of 7.55%. During the same period in the previous year, the business posted $0.52 EPS. As a group, research analysts anticipate that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.6%. Veritex's dividend payout ratio is currently 41.90%.

Insider Buying and Selling at Veritex

In other news, Director John Sughrue sold 5,669 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $32.00, for a total transaction of $181,408.00. Following the completion of the sale, the director owned 50,652 shares of the company's stock, valued at $1,620,864. This represents a 10.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Angela Harper sold 47,716 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 59,683 shares of the company's stock, valued at $1,931,938.71. This represents a 44.43% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 320,699 shares of company stock valued at $10,361,627. 4.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on VBTX shares. The Goldman Sachs Group assumed coverage on shares of Veritex in a research note on Monday, July 14th. They issued a "buy" rating for the company. Piper Sandler reiterated a "neutral" rating and set a $34.00 price objective (up previously from $30.00) on shares of Veritex in a report on Wednesday, July 16th. 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. William Blair upgraded shares of Veritex to an "outperform" rating in a report on Monday, July 14th. Finally, 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 report on Thursday, July 24th. Five 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, Veritex has a consensus rating of "Moderate Buy" and a consensus 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.