LSV Asset Management Raises Stock Position in Veritex Holdings, Inc. $VBTX

LSV Asset Management grew its stake in Veritex Holdings, Inc. (NASDAQ:VBTX) by 11.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 850,431 shares of the financial services provider’s stock after buying an additional 85,131 shares during the period. LSV Asset Management owned 1.55% of Veritex worth $22,196,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of VBTX. Acadian Asset Management LLC purchased a new stake in Veritex in the first quarter valued at $28,000. GAMMA Investing LLC boosted its stake in Veritex by 28.9% in the second quarter. GAMMA Investing LLC now owns 4,513 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 1,011 shares in the last quarter. Strs Ohio purchased a new position in shares of Veritex during the first quarter worth about $135,000. Quarry LP increased its position in shares of Veritex by 327.6% during the first quarter. Quarry LP now owns 6,534 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 5,006 shares in the last quarter. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Veritex during the second quarter worth about $208,000. Institutional investors and hedge funds own 88.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VBTX. DA Davidson upped their target price on Veritex from $32.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Veritex in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods increased 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. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Veritex presently has an average rating of “Moderate Buy” and a consensus target price of $33.25.

Insiders Place Their Bets

In other news, EVP Angela Harper sold 2,527 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $33.68, for a total value of $85,109.36. Following the completion of the sale, the executive vice president owned 53,991 shares in the company, valued at approximately $1,818,416.88. This trade represents a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arcilia Acosta sold 3,617 shares of Veritex stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $34.33, for a total transaction of $124,171.61. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.30% of the company’s stock.

Veritex Stock Performance

NASDAQ VBTX opened at $30.26 on Wednesday. The firm has a market cap of $1.66 billion, a P/E ratio of 14.41 and a beta of 1.06. Veritex Holdings, Inc. has a 52-week low of $20.37 and a 52-week high of $34.96. The business’s 50-day moving average price is $31.77 and its 200 day moving average price is $29.68. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.20.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings data on Thursday, March 3rd. The financial services provider reported $0.64 earnings per share for the quarter. Veritex had a return on equity of 7.55% and a net margin of 14.83%.The company had revenue of $64.03 million during the quarter. On average, equities research analysts expect that Veritex Holdings, Inc. will post 2.26 earnings per share for the current year.

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.9%. Veritex’s dividend payout ratio (DPR) is currently 41.90%.

Veritex 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.