Hotchkis & Wiley Capital Management LLC Boosts Stock Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Hotchkis & Wiley Capital Management LLC increased its position in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 11.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 512,460 shares of the financial services provider's stock after purchasing an additional 54,040 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.94% of Veritex worth $13,488,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of VBTX. Vanguard Group Inc. lifted its holdings in shares of Veritex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,795,336 shares of the financial services provider's stock valued at $77,766,000 after purchasing an additional 23,222 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Veritex by 9.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,014 shares of the financial services provider's stock worth $493,000 after purchasing an additional 2,162 shares in the last quarter. CWM LLC raised its position in shares of Veritex by 1,302.9% during the 2nd quarter. CWM LLC now owns 3,339 shares of the financial services provider's stock valued at $70,000 after buying an additional 3,101 shares during the period. Wedge Capital Management L L P NC increased its holdings in Veritex by 2.3% in the 2nd quarter. Wedge Capital Management L L P NC now owns 114,757 shares of the financial services provider's stock valued at $2,420,000 after purchasing an additional 2,574 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in Veritex by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the financial services provider's stock valued at $578,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 88.31% of the company's stock.

Veritex Stock Performance

Veritex stock traded up $0.26 during mid-day trading on Wednesday, reaching $30.28. The company had a trading volume of 304,169 shares, compared to its average volume of 401,172. Veritex Holdings, Inc. has a 52 week low of $18.08 and a 52 week high of $31.62. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 19.41 and a beta of 1.38. 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 company has a 50 day moving average of $27.95 and a 200-day moving average of $24.41.

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

Veritex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was Friday, November 8th. Veritex's dividend payout ratio (DPR) is presently 51.28%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. DA Davidson boosted their target price on shares of Veritex from $30.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. StockNews.com raised shares of Veritex from a "sell" rating to a "hold" rating in a research note on Wednesday, October 30th. Piper Sandler increased their price target on shares of Veritex from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods lowered shares of Veritex from an "outperform" rating to a "market perform" rating in a report on Thursday, October 24th. Finally, Raymond James upgraded shares of Veritex from a "market perform" rating to a "strong-buy" rating and set a $30.00 price target on the stock in a research report on Tuesday, September 17th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $29.40.

Veritex Company 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.