Veritex Holdings, Inc. (NASDAQ:VBTX) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 606,949 shares of the financial services provider's stock after selling 73,817 shares during the period. Wellington Management Group LLP owned about 1.11% of Veritex worth $16,485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of VBTX. Quarry LP boosted its position in shares of Veritex by 117.0% during the fourth quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock worth $42,000 after buying an additional 824 shares during the period. R Squared Ltd acquired a new stake in shares of Veritex in the fourth quarter valued at $45,000. KBC Group NV raised its stake in shares of Veritex by 73.5% in the fourth quarter. KBC Group NV now owns 3,826 shares of the financial services provider's stock valued at $104,000 after acquiring an additional 1,621 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Veritex in the fourth quarter valued at $143,000. Finally, Meeder Asset Management Inc. raised its stake in shares of Veritex by 9.8% in the fourth quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider's stock valued at $146,000 after acquiring an additional 481 shares in the last quarter. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

Veritex Stock Up 0.6%

Veritex stock traded up $0.15 during midday trading on Thursday, reaching $24.14. The company's stock had a trading volume of 366,437 shares, compared to its average volume of 388,288. Veritex Holdings, Inc. has a fifty-two week low of $19.27 and a fifty-two week high of $31.62. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.31 billion, a P/E ratio of 12.38 and a beta of 1.01. The business has a 50-day simple moving average of $23.33 and a 200-day simple moving average of $25.68.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Veritex had a return on equity of 7.59% and a net margin of 13.44%. The company had revenue of $109.73 million for the quarter, compared to analysts' expectations of $110.73 million. During the same period last year, the firm earned $0.53 earnings per share. On average, research analysts expect that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.65%. This is a boost from Veritex's previous quarterly dividend of $0.20. Veritex's payout ratio is 43.14%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Raymond James cut Veritex from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the company from $31.00 to $28.00 in a research note on Wednesday, April 2nd. DA Davidson reduced their price objective on Veritex from $34.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods reduced their price objective on Veritex from $33.00 to $30.00 and set a "market perform" rating on the stock in a research note on Thursday, April 24th. Finally, Stephens reiterated an "equal weight" rating and issued a $30.00 price objective on shares of Veritex in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veritex currently has an average rating of "Moderate Buy" and an average target price of $30.25.

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.