Deutsche Bank AG Increases Stake in Veritex Holdings, Inc. $VBTX

Key Points

• Deutsche Bank AG significantly increased its stake in Veritex Holdings, purchasing an additional 172,171 shares, marking a total ownership of about 0.40% valued at $5,489,000.
• Veritex announced a quarterly dividend of $0.22 per share, with an annualized dividend yield of 2.8%, set to be paid on August 21st.
• Several analysts have raised their price targets for Veritex's stock, with DA Davidson increasing its target from $32 to $39, reflecting positive sentiment surrounding the stock.

Deutsche Bank AG raised its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 361.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 219,807 shares of the financial services provider's stock after buying an additional 172,171 shares during the period. Deutsche Bank AG owned about 0.40% of Veritex worth $5,489,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in VBTX. Opal Wealth Advisors LLC acquired a new stake in Veritex during the first quarter worth approximately $31,000. Quarry LP raised its position in 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 purchasing an additional 824 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Veritex during the 4th quarter worth $143,000. Handelsbanken Fonder AB acquired a new stake in Veritex during the 1st quarter worth about $227,000. Finally, EP Wealth Advisors LLC acquired a new stake in Veritex during the 4th quarter worth about $231,000. Institutional investors and hedge funds own 88.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on VBTX shares. The Goldman Sachs Group began coverage on Veritex in a research note on Monday, July 14th. They set a "buy" rating for the company. DA Davidson increased their target price on Veritex from $32.00 to $39.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods upped their price target on shares of Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Stephens reiterated an "equal weight" rating and set a $30.00 target price on shares of Veritex in a report on Wednesday, April 23rd. Finally, William Blair upgraded shares of Veritex to an "outperform" rating in a report on Monday, July 14th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Veritex presently has an average rating of "Moderate Buy" and an average price target of $33.25.

Insider Transactions at Veritex

In other news, COO Lavonda Renfro sold 53,411 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $32.38, for a total value of $1,729,448.18. Following the transaction, the chief operating officer directly owned 60,209 shares of the company's stock, valued at approximately $1,949,567.42. This trade represents a 47.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Angela Harper sold 47,716 shares of Veritex stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $32.37, for a total transaction 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. In the last quarter, insiders sold 320,699 shares of company stock valued at $10,361,627. Company insiders own 4.30% of the company's stock.

Veritex Stock Performance

NASDAQ VBTX traded up $0.0330 during mid-day trading on Wednesday, reaching $32.0930. 603,133 shares of the stock were exchanged, compared to its average volume of 566,668. The business's 50 day moving average is $29.17 and its 200-day moving average is $26.03. Veritex Holdings, Inc. has a 1 year low of $20.37 and a 1 year high of $33.69. The company has a market capitalization of $1.76 billion, a P/E ratio of 15.28 and a beta of 1.08. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.02. The business had revenue of $109.83 million for the quarter, compared to the consensus estimate 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 firm posted $0.52 earnings per share. On average, equities research analysts forecast that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend 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.