LSV Asset Management Lowers Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

LSV Asset Management decreased its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 765,300 shares of the financial services provider’s stock after selling 25,600 shares during the period. LSV Asset Management owned about 1.41% of Veritex worth $19,110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in Veritex during the first quarter worth about $31,000. Quarry LP raised its position 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 acquiring an additional 824 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in Veritex during the fourth quarter worth about $143,000. EP Wealth Advisors LLC acquired a new position in Veritex during the fourth quarter worth about $231,000. Finally, Point72 Asset Management L.P. raised its position in Veritex by 92.6% during the fourth quarter. Point72 Asset Management L.P. now owns 8,884 shares of the financial services provider’s stock worth $241,000 after acquiring an additional 4,271 shares during the last quarter. Hedge funds and other institutional investors own 88.31% of the company’s stock.

Veritex Stock Performance

Shares of VBTX stock opened at $31.40 on Tuesday. Veritex Holdings, Inc. has a one year low of $20.10 and a one year high of $33.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 0.94. The company has a 50 day moving average price of $27.61 and a 200 day moving average price of $25.64. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 14.95 and a beta of 1.08.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.56 EPS 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 firm had revenue of $109.83 million during the quarter, compared to analyst estimates of $110.91 million. During the same quarter in the prior year, the business posted $0.52 earnings per share. Sell-side analysts anticipate that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.8%. The ex-dividend date is Thursday, August 7th. Veritex’s payout ratio is currently 41.90%.

Insider Activity at Veritex

In other Veritex news, COO Lavonda Renfro sold 53,411 shares of the business’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $32.38, for a total transaction of $1,729,448.18. Following the completion of the sale, the chief operating officer directly owned 60,209 shares in the company, valued at $1,949,567.42. The trade was a 47.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Angela Harper sold 47,716 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president owned 59,683 shares of the company’s stock, valued at approximately $1,931,938.71. This represents a 44.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 307,810 shares of company stock valued at $9,958,709 over the last quarter. Company insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on VBTX shares. Stephens restated an “equal weight” rating and set a $30.00 target price on shares of Veritex in a research report on Wednesday, April 23rd. William Blair raised shares of Veritex to an “outperform” rating in a research report on Monday, July 14th. The Goldman Sachs Group assumed coverage on shares of Veritex in a research report on Monday, July 14th. They issued a “buy” rating for the company. DA Davidson boosted their price objective on shares of Veritex from $32.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Piper Sandler reissued a “neutral” rating and issued a $34.00 price objective (up previously from $30.00) on shares of Veritex in a research report on Wednesday, July 16th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Veritex has a consensus rating of “Moderate Buy” and an average target price of $33.25.

Veritex Company 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.