Jupiter Asset Management Ltd. Takes Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Jupiter Asset Management Ltd. acquired a new stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 34,158 shares of the financial services provider's stock, valued at approximately $853,000. Jupiter Asset Management Ltd. owned about 0.06% of Veritex at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in Veritex during the first quarter valued at $31,000. Quarry LP lifted its position 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 purchasing an additional 824 shares during the period. Aquatic Capital Management LLC acquired a new position in Veritex during the fourth quarter valued at $143,000. Handelsbanken Fonder AB acquired a new position in shares of Veritex in the first quarter worth about $227,000. Finally, EP Wealth Advisors LLC acquired a new position in shares of Veritex in the fourth quarter worth about $231,000. 88.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO C Malcolm Holland III sold 125,762 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $32.26, for a total transaction of $4,057,082.12. Following the completion of the sale, the chief executive officer owned 294,508 shares of the company's stock, valued at approximately $9,500,828.08. This represents a 29.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the insider directly owned 17,372 shares of the company's stock, valued at approximately $565,111.16. This represents a 36.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 307,810 shares of company stock worth $9,958,709. Company insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on VBTX. Stephens reiterated an "equal weight" rating and issued a $30.00 price objective on shares of Veritex in a research report on Wednesday, April 23rd. DA Davidson upped 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. The Goldman Sachs Group began coverage on shares of Veritex in a research report on Monday, July 14th. They issued a "buy" rating for the company. Piper Sandler reiterated a "neutral" rating and issued a $34.00 price objective (up previously from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Veritex from $30.00 to $37.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $33.25.

Veritex Stock Up 1.6%

VBTX opened at $31.40 on Tuesday. Veritex Holdings, Inc. has a twelve month low of $20.10 and a twelve month high of $33.69. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $27.61 and a 200 day moving average price of $25.64. The company has a market cap of $1.70 billion, a PE ratio of 14.95 and a beta of 1.08.

Veritex (NASDAQ:VBTX - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share 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 7.59%. The firm had revenue of $109.83 million during the quarter, compared to the consensus estimate of $110.91 million. During the same quarter in the prior year, the firm earned $0.52 EPS. Sell-side analysts expect that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Thursday, August 7th. Veritex's dividend payout ratio is 41.90%.

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.

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