Wellington Management Group LLP Has $15.65 Million Holdings in Veritex Holdings, Inc. $VBTX

Key Points

• Wellington Management Group LLP increased its stake in Veritex Holdings by 3.2%, acquiring an additional 19,689 shares, bringing its total ownership to approximately 626,638 shares valued at $15.6 million.
• Insider activity included significant sales by Directors John Sughrue and Fallon William, who sold 5,669 and 7,220 shares respectively, indicating a notable decrease in their ownership percentages.
• Veritex recently announced a quarterly dividend of $0.22, with a current dividend yield of 2.6%, showcasing its commitment to returning value to shareholders.

Wellington Management Group LLP grew its position in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 3.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 626,638 shares of the financial services provider's stock after acquiring an additional 19,689 shares during the quarter. Wellington Management Group LLP owned approximately 1.15% of Veritex worth $15,647,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. SummerHaven Investment Management LLC increased its holdings in shares of Veritex by 1.5% in the 1st quarter. SummerHaven Investment Management LLC now owns 37,056 shares of the financial services provider's stock valued at $925,000 after acquiring an additional 536 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Veritex by 7.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,166 shares of the financial services provider's stock worth $303,000 after buying an additional 751 shares during the last quarter. Quarry LP grew its stake 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 buying an additional 824 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Veritex by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,863 shares of the financial services provider's stock worth $811,000 after acquiring an additional 992 shares during the period. Finally, New York State Common Retirement Fund boosted its position in Veritex by 6.9% during the 1st quarter. New York State Common Retirement Fund now owns 15,425 shares of the financial services provider's stock worth $385,000 after acquiring an additional 1,000 shares during the period. 88.31% of the stock is currently owned by institutional investors.

Veritex Stock Down 0.0%

VBTX stock traded down $0.01 during mid-day trading on Friday, hitting $34.35. The stock had a trading volume of 457,923 shares, compared to its average volume of 722,118. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.20. Veritex Holdings, Inc. has a 1-year low of $20.37 and a 1-year high of $34.56. The company has a fifty day moving average of $30.62 and a 200 day moving average of $26.39. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 16.36 and a beta of 1.08.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its 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 return on equity of 7.55% and a net margin of 14.83%.The company had revenue of $109.83 million for the quarter, compared to analyst estimates of $110.91 million. During the same period in the prior year, the firm posted $0.52 EPS. On average, equities analysts expect that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, August 7th. Veritex's dividend payout ratio is presently 41.90%.

Insider Buying and Selling at Veritex

In related news, COO Lavonda Renfro sold 53,411 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The stock was 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arcilia Acosta sold 7,279 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $32.14, for a total value of $233,947.06. Following the completion of the transaction, the director directly owned 54,933 shares in the company, valued at $1,765,546.62. The trade was a 11.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 320,699 shares of company stock worth $10,361,627 in the last 90 days. Company insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

VBTX has been the subject of a number of analyst reports. William Blair upgraded Veritex to an "outperform" rating in a research report on Monday, July 14th. DA Davidson boosted their price target on Veritex from $32.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods upped their price objective on Veritex from $30.00 to $37.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group started coverage on Veritex in a report on Monday, July 14th. They set a "buy" rating for the company. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $34.00 target price (up from $30.00) on shares of Veritex in a report on Wednesday, July 16th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $33.25.

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.