Bank of New York Mellon Corp Has $13.87 Million Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

Bank of New York Mellon Corp reduced its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 15.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 510,652 shares of the financial services provider's stock after selling 90,862 shares during the quarter. Bank of New York Mellon Corp owned about 0.94% of Veritex worth $13,869,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Victory Capital Management Inc. raised its stake in shares of Veritex by 0.5% during the third quarter. Victory Capital Management Inc. now owns 1,978,219 shares of the financial services provider's stock valued at $52,067,000 after purchasing an additional 9,611 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Veritex by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,293,966 shares of the financial services provider's stock valued at $34,064,000 after purchasing an additional 18,185 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Veritex by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 732,865 shares of the financial services provider's stock valued at $19,289,000 after purchasing an additional 12,286 shares in the last quarter. Wellington Management Group LLP raised its position in Veritex by 13.0% in the third quarter. Wellington Management Group LLP now owns 680,766 shares of the financial services provider's stock worth $17,918,000 after acquiring an additional 78,082 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Veritex by 24.1% in the third quarter. JPMorgan Chase & Co. now owns 631,372 shares of the financial services provider's stock worth $16,618,000 after acquiring an additional 122,809 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors.

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Veritex Stock Performance

Shares of VBTX traded up $0.45 on Friday, reaching $24.30. 87,484 shares of the stock traded hands, compared to its average volume of 366,772. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 12.44 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.94. Veritex Holdings, Inc. has a 12 month low of $18.08 and a 12 month high of $31.62. The stock's 50-day moving average price is $26.04 and its 200-day moving average price is $26.88.

Veritex (NASDAQ:VBTX - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.02). Veritex had a net margin of 13.44% and a return on equity of 7.59%. Equities analysts forecast that Veritex Holdings, Inc. will post 2.26 EPS for the current fiscal year.

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Friday, February 14th. Veritex's dividend payout ratio (DPR) is 41.03%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Stephens dropped their price target on shares of Veritex from $34.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 30th. Hovde Group raised Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 target price on the stock in a research note on Thursday, January 30th. DA Davidson reduced their price target on Veritex from $36.00 to $34.00 and set a "buy" rating for the company in a report on Thursday, January 30th. Finally, Raymond James reduced their target price on Veritex from $32.00 to $31.00 and set a "strong-buy" rating for the company in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $31.50.

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.