Victory Capital Management Inc. Grows Stock Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Victory Capital Management Inc. raised its stake in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,040,856 shares of the financial services provider's stock after acquiring an additional 59,056 shares during the quarter. Victory Capital Management Inc. owned about 3.75% of Veritex worth $50,960,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in shares of Veritex in the 1st quarter valued at about $31,000. Quarry LP increased its holdings in 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 last quarter. Aquatic Capital Management LLC acquired a new position in shares of Veritex in the fourth quarter valued at $143,000. Meeder Asset Management Inc. increased its stake in shares of Veritex by 9.8% during the fourth quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider's stock worth $146,000 after purchasing an additional 481 shares during the period. Finally, Handelsbanken Fonder AB acquired a new position in shares of Veritex in the first quarter valued at about $227,000. Institutional investors own 88.31% of the company's stock.

Veritex Stock Performance

Shares of VBTX stock traded up $0.39 during trading hours on Monday, reaching $32.64. 552,577 shares of the company traded hands, compared to its average volume of 469,488. The firm has a 50-day moving average price of $26.00 and a 200 day moving average price of $25.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $1.77 billion, a P/E ratio of 15.54 and a beta of 1.03. Veritex Holdings, Inc. has a 12-month low of $20.10 and a 12-month high of $33.69.

Veritex (NASDAQ:VBTX - Get Free Report) last released its earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. Veritex had a return on equity of 7.59% and a net margin of 14.83%. The business had revenue of $109.83 million for the quarter, compared to the consensus estimate of $110.91 million. During the same quarter last year, the business posted $0.52 earnings per share. As a group, sell-side analysts predict that Veritex Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.70%. Veritex's dividend payout ratio (DPR) is presently 43.14%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. William Blair raised Veritex to an "outperform" rating in a report on Monday, July 14th. Raymond James Financial lowered shares of Veritex from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the company from $31.00 to $28.00 in a research note on Wednesday, April 2nd. The Goldman Sachs Group initiated coverage on shares of Veritex in a report on Monday, July 14th. They set a "buy" rating on the stock. DA Davidson lowered 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. Finally, Keefe, Bruyette & Woods decreased their price target on Veritex from $33.00 to $30.00 and set a "market perform" rating on the stock in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $30.92.

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.