Public Sector Pension Investment Board Has $4.32 Million Stake in Veritex Holdings, Inc. $VBTX

Public Sector Pension Investment Board boosted its stake in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 27.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 172,916 shares of the financial services provider's stock after buying an additional 37,162 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.32% of Veritex worth $4,318,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased 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 worth $944,000 after purchasing an additional 9,559 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Veritex by 6.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 53,767 shares of the financial services provider's stock worth $1,460,000 after purchasing an additional 3,112 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Veritex during the 4th quarter worth $6,974,000. Barclays PLC increased its stake in shares of Veritex by 5.1% during the 4th quarter. Barclays PLC now owns 123,585 shares of the financial services provider's stock worth $3,356,000 after purchasing an additional 5,976 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Veritex during the 4th quarter worth $1,057,000. Hedge funds and other institutional investors own 88.31% of the company's stock.

Insider Buying and Selling

In other news, insider Cara Mcdaniel sold 10,000 shares of Veritex 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 in the company, valued at approximately $565,111.16. The trade was a 36.53% 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, Director Fallon William sold 7,220 shares of Veritex stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $30.68, for a total transaction of $221,509.60. Following the transaction, the director directly owned 14,191 shares of the company's stock, valued at $435,379.88. This represents a 33.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 320,699 shares of company stock worth $10,361,627. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Veritex Stock Performance

NASDAQ VBTX traded up $1.3330 during midday trading on Friday, hitting $33.4130. The company had a trading volume of 697,576 shares, compared to its average volume of 568,082. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 15.90 and a beta of 1.08. The firm has a fifty day simple moving average of $29.46 and a two-hundred day simple moving average of $26.11. Veritex Holdings, Inc. has a fifty-two week low of $20.37 and a fifty-two week high of $33.69.

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 company 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 period last year, the business posted $0.52 EPS. Equities analysts forecast 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 was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.6%. The ex-dividend date was Thursday, August 7th. Veritex's dividend payout ratio (DPR) 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.