Wedge Capital Management L L P NC Has $2.67 Million Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

Wedge Capital Management L L P NC raised its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 33.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,521 shares of the financial services provider’s stock after purchasing an additional 28,631 shares during the quarter. Wedge Capital Management L L P NC owned 0.21% of Veritex worth $2,665,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp raised its position in Veritex by 1,319.3% in the 3rd quarter. Fifth Third Bancorp now owns 3,236 shares of the financial services provider’s stock valued at $58,000 after buying an additional 3,008 shares during the last quarter. Mutual of America Capital Management LLC bought a new position in shares of Veritex during the 4th quarter worth approximately $221,000. Vest Financial LLC acquired a new stake in shares of Veritex in the fourth quarter valued at approximately $240,000. Teza Capital Management LLC acquired a new stake in shares of Veritex in the third quarter valued at approximately $218,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Veritex in the fourth quarter valued at approximately $413,000. Institutional investors and hedge funds own 88.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on VBTX. Piper Sandler lifted their price objective on shares of Veritex from $23.50 to $25.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. StockNews.com downgraded shares of Veritex from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. 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 report on Thursday, January 25th. Finally, Stephens reiterated an “equal weight” rating and issued a $24.00 price objective on shares of Veritex in a report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.13.

Veritex Price Performance

NASDAQ:VBTX opened at $20.79 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. Veritex Holdings, Inc. has a 12-month low of $14.88 and a 12-month high of $24.46. The stock’s 50 day moving average price is $19.87 and its two-hundred day moving average price is $20.28. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 12.09 and a beta of 1.34.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). Veritex had a net margin of 12.47% and a return on equity of 8.51%. The business had revenue of $191.25 million during the quarter, compared to the consensus estimate of $109.70 million. During the same quarter last year, the company posted $0.79 EPS. On average, analysts anticipate that Veritex Holdings, Inc. will post 2.24 earnings per share for the current year.

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.