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

LSV Asset Management grew its stake in Veritex Holdings, Inc. (NASDAQ:VBTXFree Report) by 25.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,591,209 shares of the financial services provider’s stock after acquiring an additional 318,600 shares during the period. LSV Asset Management owned 2.93% of Veritex worth $28,562,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VBTX. Victory Capital Management Inc. raised its holdings in shares of Veritex by 5,047.8% in the second quarter. Victory Capital Management Inc. now owns 1,294,409 shares of the financial services provider’s stock worth $23,209,000 after buying an additional 1,269,264 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Veritex by 219.5% during the first quarter. Wellington Management Group LLP now owns 1,014,046 shares of the financial services provider’s stock worth $18,516,000 after purchasing an additional 696,629 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Veritex by 32.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,641,794 shares of the financial services provider’s stock worth $77,299,000 after purchasing an additional 645,296 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Veritex by 750.4% during the second quarter. Millennium Management LLC now owns 698,771 shares of the financial services provider’s stock worth $20,446,000 after purchasing an additional 616,600 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Veritex by 429.1% in the first quarter. First Trust Advisors LP now owns 673,690 shares of the financial services provider’s stock valued at $12,302,000 after buying an additional 546,362 shares in the last quarter. 87.29% of the stock is currently owned by institutional investors.

Insider Activity

In other Veritex news, Director Gregory B. Morrison purchased 1,734 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were purchased at an average price of $17.30 per share, for a total transaction of $29,998.20. Following the completion of the purchase, the director now directly owns 29,636 shares of the company’s stock, valued at $512,702.80. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a research note on Friday, January 5th. Piper Sandler increased their price target on shares of Veritex from $23.50 to $25.00 and gave the company an “overweight” rating in a report on Thursday. Keefe, Bruyette & Woods lowered their price objective on shares of Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Stephens lowered their price target on shares of Veritex from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Thursday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Veritex has a consensus rating of “Hold” and a consensus target price of $24.13.

View Our Latest Stock Report on Veritex

Veritex Trading Up 2.8 %

Veritex stock traded up $0.60 during trading on Friday, reaching $21.89. The company had a trading volume of 624,037 shares, compared to its average volume of 392,030. The stock’s 50 day moving average price is $21.78 and its two-hundred day moving average price is $19.92. Veritex Holdings, Inc. has a 12-month low of $14.88 and a 12-month high of $29.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 0.99. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 10.75 and a beta of 1.42.

Veritex (NASDAQ:VBTXGet Free Report) last released its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). The firm had revenue of $77.74 million for the quarter, compared to the consensus estimate of $110.67 million. Veritex had a return on equity of 9.53% and a net margin of 14.51%. The firm’s revenue was down 35.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 EPS. As a group, equities analysts expect that Veritex Holdings, Inc. will post 2.38 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Thursday, February 8th. Veritex’s payout ratio is presently 40.40%.

Veritex Company Profile

(Free Report)

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, consumer, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.

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Institutional Ownership by Quarter for Veritex (NASDAQ:VBTX)

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