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

LSV Asset Management trimmed its holdings in shares of Veritex Holdings, Inc. (NASDAQ:VBTX) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,504,809 shares of the financial services provider’s stock after selling 86,400 shares during the quarter. LSV Asset Management owned 2.77% of Veritex worth $35,017,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Veritex by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,719,181 shares of the financial services provider’s stock valued at $66,759,000 after buying an additional 47,336 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Veritex by 5.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,816,084 shares of the financial services provider’s stock valued at $42,260,000 after buying an additional 93,753 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Veritex by 14.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 573,786 shares of the financial services provider’s stock valued at $10,299,000 after purchasing an additional 71,275 shares during the last quarter. HighTower Advisors LLC grew its holdings in Veritex by 11.4% during the 3rd quarter. HighTower Advisors LLC now owns 552,591 shares of the financial services provider’s stock valued at $9,920,000 after purchasing an additional 56,518 shares during the last quarter. Finally, Algert Global LLC grew its holdings in Veritex by 5.3% during the 3rd quarter. Algert Global LLC now owns 252,465 shares of the financial services provider’s stock valued at $4,532,000 after purchasing an additional 12,780 shares during the last quarter. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

Veritex Price Performance

Shares of VBTX opened at $20.49 on Monday. The company has a 50 day moving average price of $19.83 and a 200-day moving average price of $20.37. Veritex Holdings, Inc. has a fifty-two week low of $14.88 and a fifty-two week high of $24.46. The stock has a market capitalization of $1.12 billion, a PE ratio of 11.91 and a beta of 1.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.95 and a current ratio of 0.96.

Veritex (NASDAQ:VBTX) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06). Veritex had a return on equity of 8.46% and a net margin of 12.47%. The business had revenue of $191.25 million during the quarter, compared to analysts’ expectations of $109.70 million. During the same period in the previous year, the company posted $0.79 EPS. Equities analysts predict that Veritex Holdings, Inc. will post 2.2 earnings per share for the current fiscal year.

Veritex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.80 dividend on an annualized basis and a yield of 3.90%. Veritex’s payout ratio is 46.51%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com downgraded shares of Veritex from a “hold” rating to a “sell” rating in a report on Friday. Piper Sandler upped their target price on shares of Veritex from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Stephens restated an “equal weight” rating and issued a $24.00 target price on shares of Veritex in a research note on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Veritex from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Veritex presently has an average rating of “Hold” and an average target price of $24.38.

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.