Jacobs Levy Equity Management Inc. Cuts Stake in Veritex Holdings, Inc. $VBTX

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Veritex Holdings by 42.5%, owning approximately 0.13% of the company after selling 52,374 shares.
• Veritex recently announced a quarterly dividend of $0.22 per share, representing a 2.6% yield and a 41.90% payout ratio.
• Analysts have raised price targets for Veritex, with estimates now ranging from $34.00 to $39.00, indicating a consensus rating of "Moderate Buy".

Jacobs Levy Equity Management Inc. decreased its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 42.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 70,918 shares of the financial services provider's stock after selling 52,374 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.13% of Veritex worth $1,771,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in VBTX. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Veritex in the 4th quarter valued at $256,000. EP Wealth Advisors LLC purchased a new stake in shares of Veritex in the 4th quarter valued at $231,000. Deutsche Bank AG boosted its stake in shares of Veritex by 48.7% in the 4th quarter. Deutsche Bank AG now owns 47,636 shares of the financial services provider's stock valued at $1,294,000 after purchasing an additional 15,596 shares in the last quarter. Graham Capital Management L.P. boosted its stake in shares of Veritex by 93.6% in the 4th quarter. Graham Capital Management L.P. now owns 17,370 shares of the financial services provider's stock valued at $472,000 after purchasing an additional 8,398 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 valued at $811,000 after purchasing an additional 992 shares in the last quarter. Hedge funds and other institutional investors own 88.31% of the company's stock.

Veritex Stock Down 0.0%

Shares of NASDAQ VBTX opened at $34.19 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.20. Veritex Holdings, Inc. has a 12 month low of $20.37 and a 12 month high of $34.96. The firm has a market capitalization of $1.87 billion, a PE ratio of 16.28 and a beta of 1.08. The firm has a fifty day simple moving average of $31.93 and a two-hundred day simple moving average of $26.82.

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

Veritex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 2.6%. Veritex's dividend payout ratio is 41.90%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Veritex news, COO Lavonda Renfro sold 53,411 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $32.38, for a total value of $1,729,448.18. Following the completion of the transaction, the chief operating officer directly owned 60,209 shares in the company, valued at approximately $1,949,567.42. This represents a 47.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO C Malcolm Holland III sold 125,762 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $32.26, for a total transaction of $4,057,082.12. Following the completion of the transaction, the chief executive officer owned 294,508 shares of the company's stock, valued at approximately $9,500,828.08. The trade was a 29.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 320,699 shares of company stock worth $10,361,627. Company insiders own 4.30% of the company's stock.

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.

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