Geode Capital Management LLC Purchases 18,185 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

Geode Capital Management LLC lifted its position in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,293,966 shares of the financial services provider's stock after purchasing an additional 18,185 shares during the period. Geode Capital Management LLC owned 2.38% of Veritex worth $34,064,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. bought a new position in Veritex during the second quarter worth $25,000. Systematic Financial Management LP acquired a new stake in Veritex in the third quarter valued at about $98,000. Point72 DIFC Ltd grew its position in Veritex by 16.5% in the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider's stock valued at $122,000 after acquiring an additional 816 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in Veritex by 295.8% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,438 shares of the financial services provider's stock worth $196,000 after acquiring an additional 5,559 shares in the last quarter. Finally, Mutual of America Capital Management LLC acquired a new stake in shares of Veritex in the 3rd quarter valued at approximately $215,000. 88.31% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. StockNews.com raised shares of Veritex from a "sell" rating to a "hold" rating in a research note on Wednesday, October 30th. Raymond James raised Veritex from a "market perform" rating to a "strong-buy" rating and set a $30.00 target price on the stock in a report on Tuesday, September 17th. DA Davidson increased their price objective on shares of Veritex from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods lowered Veritex from an "outperform" rating to a "market perform" rating in a research note on Thursday, October 24th. Finally, Piper Sandler raised their target price on Veritex from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Veritex presently has an average rating of "Moderate Buy" and a consensus target price of $29.40.

Veritex Stock Down 0.3 %

NASDAQ:VBTX traded down $0.08 during trading hours on Thursday, hitting $27.82. 214,952 shares of the company traded hands, compared to its average volume of 402,160. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm's 50-day simple moving average is $28.91 and its 200-day simple moving average is $25.29. Veritex Holdings, Inc. has a one year low of $18.08 and a one year high of $31.62. The company has a market cap of $1.52 billion, a PE ratio of 17.83 and a beta of 1.38.

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

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.88%. Veritex's payout ratio is currently 51.28%.

Veritex 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.