Northern Trust Corp Has $15.85 Million Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

Northern Trust Corp reduced its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 9.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 583,478 shares of the financial services provider's stock after selling 58,755 shares during the quarter. Northern Trust Corp owned about 1.07% of Veritex worth $15,847,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. USA Financial Formulas bought a new stake in Veritex in the 4th quarter valued at approximately $32,000. Quarry LP increased its stake in shares of Veritex by 117.0% in the fourth quarter. Quarry LP now owns 1,528 shares of the financial services provider's stock valued at $42,000 after buying an additional 824 shares during the period. R Squared Ltd bought a new position in shares of Veritex during the 4th quarter worth approximately $45,000. KBC Group NV raised its position in shares of Veritex by 73.5% during the fourth quarter. KBC Group NV now owns 3,826 shares of the financial services provider's stock worth $104,000 after purchasing an additional 1,621 shares during the period. Finally, Aquatic Capital Management LLC purchased a new stake in Veritex in the 4th quarter valued at $143,000. 88.31% of the stock is owned by institutional investors.

Veritex Stock Down 0.0%

Shares of VBTX traded down $0.01 during mid-day trading on Tuesday, reaching $25.00. The company's stock had a trading volume of 3,419 shares, compared to its average volume of 397,757. The company's 50 day moving average is $23.43 and its 200 day moving average is $26.08. The stock has a market cap of $1.36 billion, a PE ratio of 12.82 and a beta of 1.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.94. Veritex Holdings, Inc. has a 12-month low of $18.74 and a 12-month high of $31.62.

Veritex (NASDAQ:VBTX - Get Free Report) last announced 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. The business had revenue of $109.73 million during the quarter, compared to analysts' expectations of $110.73 million. Veritex had a return on equity of 7.59% and a net margin of 13.44%. During the same quarter last year, the business posted $0.53 earnings per share. Equities analysts anticipate that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, May 8th. This is an increase from Veritex's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 3.52%. Veritex's payout ratio is currently 43.14%.

Analyst Ratings Changes

A number of research firms have recently commented on VBTX. Keefe, Bruyette & Woods cut their price target on Veritex from $33.00 to $30.00 and set a "market perform" rating for the company in a report on Thursday, April 24th. Stephens reaffirmed an "equal weight" rating and set a $30.00 price objective on shares of Veritex in a research note on Wednesday, April 23rd. Raymond James cut shares of Veritex from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $31.00 to $28.00 in a research note on Wednesday, April 2nd. DA Davidson lowered their price objective on shares of Veritex from $34.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Hovde Group raised shares of Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 target price for the company in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Veritex presently has an average rating of "Moderate Buy" and a consensus price target of $30.25.

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.