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

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

Several other institutional investors have also added to or reduced their stakes in VBTX. Raymond James Financial Inc. purchased a new stake in shares of Veritex in the 4th quarter worth about $6,974,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Veritex in the 4th quarter worth about $1,080,000. Commonwealth Equity Services LLC lifted its position in shares of Veritex by 9.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 28,800 shares of the financial services provider's stock worth $782,000 after purchasing an additional 2,437 shares during the period. Teacher Retirement System of Texas lifted its position in shares of Veritex by 6.6% in the 4th quarter. Teacher Retirement System of Texas now owns 17,020 shares of the financial services provider's stock worth $462,000 after purchasing an additional 1,050 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of Veritex in the 4th quarter worth about $599,000. Hedge funds and other institutional investors own 88.31% of the company's stock.

Veritex Price Performance

Shares of VBTX stock traded down $0.33 during mid-day trading on Tuesday, hitting $32.11. The company had a trading volume of 1,223,627 shares, compared to its average volume of 474,057. Veritex Holdings, Inc. has a 52-week low of $20.10 and a 52-week high of $33.69. The stock's 50 day moving average price is $26.00 and its 200-day moving average price is $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 capitalization of $1.74 billion, a P/E ratio of 15.29 and a beta of 1.03.

Veritex (NASDAQ:VBTX - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. Veritex had a net margin of 14.83% and a return on equity of 7.59%. The company had revenue of $109.83 million for the quarter, compared to analysts' expectations of $110.91 million. During the same quarter in the previous year, the business posted $0.52 earnings per share. Equities research analysts forecast that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Thursday, August 7th. Veritex's dividend payout ratio (DPR) is 41.90%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Raymond James Financial cut shares of Veritex from a "strong-buy" rating to an "outperform" rating and lowered their price target for the company from $31.00 to $28.00 in a research report on Wednesday, April 2nd. Piper Sandler restated a "neutral" rating and set a $34.00 price objective (up from $30.00) on shares of Veritex in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods raised their price objective on shares of Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a research note on Tuesday. The Goldman Sachs Group assumed coverage on shares of Veritex in a research note on Monday, July 14th. They set a "buy" rating for the company. Finally, DA Davidson reduced their price objective on shares of Veritex from $34.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Veritex has a consensus rating of "Moderate Buy" and an average price target of $32.08.

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.