LSV Asset Management Has $19.11 Million Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Key Points

• LSV Asset Management has reduced its stake in Veritex Holdings, Inc. by 3.2%, now holding approximately 765,300 shares valued at $19.11 million.
• Company insiders, including Director Arcilia Acosta and CEO C. Malcolm Holland III, sold significant shares totaling over $2.3 million in recent months.
• Veritex recently declared a quarterly dividend of $0.22 per share, representing an annualized yield of 2.8%.

LSV Asset Management lessened its holdings in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 765,300 shares of the financial services provider's stock after selling 25,600 shares during the quarter. LSV Asset Management owned approximately 1.41% of Veritex worth $19,110,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Veritex during the first quarter worth approximately $31,000. Quarry LP increased its holdings in shares of Veritex by 117.0% during the 4th quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock worth $42,000 after acquiring an additional 824 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in shares of Veritex in the fourth quarter valued at $143,000. Handelsbanken Fonder AB acquired a new position in shares of Veritex in the first quarter valued at $227,000. Finally, EP Wealth Advisors LLC acquired a new position in shares of Veritex in the fourth quarter valued at $231,000. Institutional investors and hedge funds own 88.31% of the company's stock.

Insider Buying and Selling

In other Veritex news, Director Fallon William sold 7,220 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $30.68, for a total value of $221,509.60. Following the sale, the director owned 14,191 shares in the company, valued at $435,379.88. This trade represents a 33.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Angela Harper sold 47,716 shares of the firm's stock in a transaction on 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 disclosure for this sale can be found here. Insiders sold a total of 315,030 shares of company stock worth $10,180,219 in the last quarter. Corporate insiders own 4.30% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. William Blair upgraded shares of Veritex to an "outperform" rating in a research note on Monday, July 14th. The Goldman Sachs Group initiated coverage on Veritex in a research report on Monday, July 14th. They issued a "buy" rating on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $34.00 price objective (up from $30.00) on shares of Veritex in a report on Wednesday, July 16th. DA Davidson upped their price objective on Veritex from $32.00 to $39.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Stephens restated an "equal weight" rating and issued a $30.00 price target on shares of Veritex in a research note on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.25.

Veritex Price Performance

Shares of VBTX traded down $0.40 during trading hours on Wednesday, hitting $30.95. 720,087 shares of the company were exchanged, compared to its average volume of 558,487. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 14.74 and a beta of 1.08. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.20. Veritex Holdings, Inc. has a fifty-two week low of $20.37 and a fifty-two week high of $33.69. The firm's fifty day moving average is $27.75 and its 200 day moving average is $25.68.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly 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. The business had revenue of $109.83 million for the quarter, compared to analyst estimates 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 business posted $0.52 EPS. On average, equities analysts anticipate that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Thursday, August 7th. Veritex's dividend payout ratio (DPR) is presently 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.