Invesco Ltd. Sells 37,545 Shares of Veritex Holdings, Inc. $VBTX

Key Points

• Invesco Ltd. reduced its stake in Veritex Holdings by selling 37,545 shares, leading to an 8.9% decrease in ownership, holding approximately $9.6 million worth of shares as of the last report.
• Several institutional investors increased their stakes in Veritex, including Wells Fargo, which grew its position by 37.9%, highlighting ongoing institutional interest in the financial services provider.
• Veritex announced a quarterly dividend of $0.22, reflecting a dividend yield of 2.6%, with a payout ratio of 41.90%, indicating its commitment to returning value to shareholders.

Invesco Ltd. lessened its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 8.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 385,208 shares of the financial services provider's stock after selling 37,545 shares during the period. Invesco Ltd. owned about 0.71% of Veritex worth $9,619,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in VBTX. Wells Fargo & Company MN grew its stake in shares of Veritex by 37.9% during the 4th quarter. Wells Fargo & Company MN now owns 34,758 shares of the financial services provider's stock valued at $944,000 after acquiring an additional 9,559 shares during the period. Envestnet Asset Management Inc. raised its stake in Veritex by 6.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 53,767 shares of the financial services provider's stock valued at $1,460,000 after purchasing an additional 3,112 shares during the period. Barclays PLC raised its stake in Veritex by 5.1% during the 4th quarter. Barclays PLC now owns 123,585 shares of the financial services provider's stock valued at $3,356,000 after purchasing an additional 5,976 shares during the period. Dimensional Fund Advisors LP raised its stake 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 purchasing an additional 125,189 shares during the period. Finally, MetLife Investment Management LLC raised its stake in Veritex by 3.7% during the 4th quarter. MetLife Investment Management LLC now owns 32,140 shares of the financial services provider's stock valued at $873,000 after purchasing an additional 1,144 shares during the period. Institutional investors own 88.31% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VBTX shares. 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 note on Wednesday, July 16th. The Goldman Sachs Group began coverage on Veritex in a research note on Monday, July 14th. They set a "buy" rating for the company. William Blair raised Veritex to an "outperform" rating in a research note on Monday, July 14th. DA Davidson increased their price target on Veritex from $32.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods increased their price target on Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Veritex has an average rating of "Moderate Buy" and a consensus target price of $33.25.

Insiders Place Their Bets

In other news, EVP Angela Harper sold 47,716 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $32.37, for a total value of $1,544,566.92. Following the sale, the executive vice president directly owned 59,683 shares in the company, valued at approximately $1,931,938.71. This trade represents a 44.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Sughrue sold 5,669 shares of the firm's stock in a transaction dated 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 in the company, valued at $1,620,864. This represents a 10.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 320,699 shares of company stock worth $10,361,627. 4.30% of the stock is owned by corporate insiders.

Veritex Trading Up 4.3%

Shares of NASDAQ VBTX opened at $33.45 on Monday. The business's 50 day moving average is $29.64 and its two-hundred day moving average is $26.14. 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 1-year low of $20.37 and a 1-year high of $33.69. The stock has a market capitalization of $1.83 billion, a P/E ratio of 15.93 and a beta of 1.08.

Veritex (NASDAQ:VBTX - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $109.83 million during 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 last year, the firm earned $0.52 earnings per share. As a group, research analysts expect that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were issued a $0.22 dividend. The ex-dividend date was Thursday, August 7th. This represents a $0.88 annualized dividend and a dividend yield of 2.6%. Veritex's payout ratio is currently 41.90%.

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.

Want to see what other hedge funds are holding VBTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.