Veritex Holdings, Inc. $VBTX Stake Lifted by Vanguard Group Inc.

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

Several other hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Veritex by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,803,752 shares of the financial services provider's stock worth $76,149,000 after purchasing an additional 125,189 shares during the period. Victory Capital Management Inc. raised its position in Veritex by 3.0% in the first quarter. Victory Capital Management Inc. now owns 2,040,856 shares of the financial services provider's stock worth $50,960,000 after acquiring an additional 59,056 shares in the last quarter. Nuveen Asset Management LLC raised its position in Veritex by 57.8% in 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 acquiring an additional 454,015 shares in the last quarter. Millennium Management LLC raised its position in Veritex by 220.5% in the fourth quarter. Millennium Management LLC now owns 966,391 shares of the financial services provider's stock worth $26,247,000 after acquiring an additional 664,885 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC purchased a new position in Veritex in the fourth quarter worth $14,644,000. 88.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Veritex

In other news, insider Cara Mcdaniel sold 10,000 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $32.53, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Angela Harper sold 47,716 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $32.37, for a total value of $1,544,566.92. Following the transaction, the executive vice president directly owned 59,683 shares in the company, valued at $1,931,938.71. This trade represents a 44.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 320,699 shares of company stock worth $10,361,627 in the last quarter. 4.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. DA Davidson increased 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 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. William Blair upgraded Veritex to an "outperform" rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods raised their price target on Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Finally, The Goldman Sachs Group began coverage on Veritex in a research report on Monday, July 14th. They issued a "buy" rating for the company. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Veritex has a consensus rating of "Moderate Buy" and an average price target of $33.25.

Veritex Price Performance

Veritex stock traded up $0.42 during midday trading on Tuesday, reaching $33.68. 755,195 shares of the company were exchanged, compared to its average volume of 574,252. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 16.04 and a beta of 1.08. The firm's 50-day simple moving average is $29.82 and its 200-day simple moving average is $26.18. Veritex Holdings, Inc. has a 1 year low of $20.37 and a 1 year high of $33.72. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.96 and a current ratio of 0.96.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.02. The firm had revenue of $109.83 million during the quarter, compared to analysts' expectations of $110.91 million. Veritex had a return on equity of 7.55% and a net margin of 14.83%.During the same quarter last year, the business posted $0.52 EPS. On average, analysts anticipate that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was 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.