Geode Capital Management LLC Has $34.79 Million Stock Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

Geode Capital Management LLC lessened its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,280,696 shares of the financial services provider's stock after selling 13,270 shares during the quarter. Geode Capital Management LLC owned 2.35% of Veritex worth $34,792,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. USA Financial Formulas acquired a new position in shares of Veritex during the 4th quarter worth about $32,000. R Squared Ltd bought a new stake in Veritex during the fourth quarter worth about $45,000. GAMMA Investing LLC boosted its position in Veritex by 14.7% during the fourth quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider's stock valued at $91,000 after purchasing an additional 431 shares during the last quarter. KBC Group NV grew its stake in Veritex by 73.5% in the fourth quarter. KBC Group NV now owns 3,826 shares of the financial services provider's stock valued at $104,000 after purchasing an additional 1,621 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of Veritex by 9.8% during the 4th quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider's stock worth $146,000 after purchasing an additional 481 shares during the last quarter. Institutional investors and hedge funds own 88.31% of the company's stock.

Veritex Stock Performance

Shares of Veritex stock traded up $0.30 on Friday, hitting $21.79. The stock had a trading volume of 620,847 shares, compared to its average volume of 395,267. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 11.17 and a beta of 1.11. The business's 50 day moving average is $24.20 and its two-hundred day moving average is $26.49. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. Veritex Holdings, Inc. has a twelve month low of $18.74 and a twelve month high of $31.62.

Veritex (NASDAQ:VBTX - Get Free Report) last posted its 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 return on equity of 7.59% and a net margin of 13.44%. Analysts forecast that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.67%. Veritex's payout ratio is presently 41.03%.

Analysts Set New Price Targets

VBTX has been the subject of several analyst reports. Hovde Group raised shares of Veritex from a "market perform" rating to an "outperform" rating and set a $31.50 target price for the company in a research note on Thursday, January 30th. DA Davidson reissued a "buy" rating and issued a $34.00 price objective on shares of Veritex in a research report on Monday, March 17th. Raymond James cut shares of Veritex from a "strong-buy" rating to an "outperform" rating and dropped their target price for the company from $31.00 to $28.00 in a report on Wednesday, April 2nd. Finally, Stephens reduced their price target on Veritex from $34.00 to $31.00 and set an "equal weight" rating for the company in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Veritex has an average rating of "Moderate Buy" and an average price target of $30.90.

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.