Vanguard Group Inc. Grows Stock Position in Veritex Holdings, Inc. $VBTX

Key Points

• Vanguard Group Inc. has increased its stake in Veritex Holdings, Inc. by 1.5% during the first quarter, owning approximately 3.9 million shares, which is valued at $98.17 million.
• Insider transactions show a notable decrease in ownership, with Director Arcilia Acosta and insider Cara Mcdaniel selling over 17,000 shares in recent months.
• Veritex declared a quarterly dividend of $0.22 per share, resulting in an annualized yield of 2.6%, with a current payout ratio of 41.90%.

Vanguard Group Inc. raised its position in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,931,593 shares of the financial services provider's stock after acquiring an additional 56,676 shares during the quarter. Vanguard Group Inc. owned approximately 7.24% of Veritex worth $98,172,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of VBTX. Millennium Management LLC grew its position in Veritex by 220.5% in the 4th quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider's stock valued at $26,247,000 after acquiring an additional 664,885 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new position in shares of Veritex during the fourth quarter worth about $14,644,000. Nuveen Asset Management LLC grew its position in shares of Veritex by 57.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,239,873 shares of the financial services provider's stock worth $33,675,000 after buying an additional 454,015 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Veritex during the fourth quarter worth about $6,975,000. Finally, Cubist Systematic Strategies LLC grew its position in shares of Veritex by 126.4% during the fourth quarter. Cubist Systematic Strategies LLC now owns 270,137 shares of the financial services provider's stock worth $7,337,000 after buying an additional 150,835 shares in the last quarter. 88.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Veritex news, insider Cara Mcdaniel sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $32.53, for a total value of $325,300.00. Following the completion of the sale, the insider owned 17,372 shares in the company, valued at approximately $565,111.16. The trade was a 36.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fallon William sold 7,220 shares of the business'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 completion of the sale, the director owned 14,191 shares of the company's stock, valued at approximately $435,379.88. This represents a 33.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 320,699 shares of company stock valued at $10,361,627 in the last 90 days. Company insiders own 4.30% of the company's stock.

Veritex Stock Up 0.1%

VBTX stock traded up $0.03 during trading on Thursday, hitting $34.36. 492,369 shares of the company's stock were exchanged, compared to its average volume of 739,352. The business has a 50-day moving average price of $30.42 and a two-hundred day moving average price of $26.34. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 16.36 and a beta of 1.08. Veritex Holdings, Inc. has a 52-week low of $20.37 and a 52-week high of $34.46. 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 (NASDAQ:VBTX - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.02. Veritex had a return on equity of 7.55% and a net margin of 14.83%.The company had revenue of $109.83 million during the quarter, compared to analysts' expectations of $110.91 million. During the same quarter in the previous year, the business earned $0.52 earnings per share. As a group, equities research analysts expect that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.