Assenagon Asset Management S.A. Reduces Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

Assenagon Asset Management S.A. lowered its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 11.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 714,494 shares of the financial services provider's stock after selling 92,800 shares during the period. Assenagon Asset Management S.A. owned approximately 1.31% of Veritex worth $19,406,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Texas Permanent School Fund Corp lifted its position in Veritex by 31.2% during the second quarter. Texas Permanent School Fund Corp now owns 62,391 shares of the financial services provider's stock worth $1,316,000 after purchasing an additional 14,835 shares during the period. American Century Companies Inc. raised its position in shares of Veritex by 11.7% in the 2nd quarter. American Century Companies Inc. now owns 827,202 shares of the financial services provider's stock valued at $17,446,000 after buying an additional 86,327 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Veritex by 14.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider's stock worth $51,566,000 after acquiring an additional 299,562 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Veritex during the 2nd quarter worth approximately $730,000. Finally, Intech Investment Management LLC bought a new position in Veritex in the second quarter valued at approximately $458,000. Institutional investors and hedge funds own 88.31% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VBTX. Keefe, Bruyette & Woods lowered Veritex from an "outperform" rating to a "market perform" rating in a research note on Thursday, October 24th. DA Davidson increased their target price on shares of Veritex from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. StockNews.com raised shares of Veritex from a "sell" rating to a "hold" rating in a report on Wednesday, October 30th. Finally, Piper Sandler upped their price target on shares of Veritex from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $29.40.

Veritex Trading Up 0.5 %

Shares of VBTX traded up $0.14 during trading hours on Friday, hitting $26.35. 344,112 shares of the stock were exchanged, compared to its average volume of 374,002. The firm has a market capitalization of $1.44 billion, a P/E ratio of 16.89 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. Veritex Holdings, Inc. has a fifty-two week low of $18.08 and a fifty-two week high of $31.62. The business has a 50-day moving average of $28.44 and a 200-day moving average of $26.02.

Veritex (NASDAQ:VBTX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.04. The company had revenue of $113.17 million for the quarter, compared to the consensus estimate of $110.22 million. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The firm's revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. On average, research analysts expect that Veritex Holdings, Inc. will post 2.17 EPS for the current year.

Veritex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, November 8th. Veritex's payout ratio is 51.28%.

Insider Transactions at Veritex

In related news, Director John Sughrue sold 16,820 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.25, for a total value of $508,805.00. Following the transaction, the director now owns 62,643 shares of the company's stock, valued at approximately $1,894,950.75. This trade represents a 21.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO C Malcolm Holland III sold 12,777 shares of Veritex stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $27.69, for a total value of $353,795.13. Following the transaction, the chief executive officer now owns 224,132 shares of the company's stock, valued at $6,206,215.08. This trade represents a 5.39 % decrease in their position. The disclosure for this sale can be found here. 4.60% of the stock is owned by insiders.

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.