KLP Kapitalforvaltning AS Acquires New Holdings in Veritex Holdings, Inc. (NASDAQ:VBTX)

KLP Kapitalforvaltning AS acquired a new stake in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,212 shares of the financial services provider's stock, valued at approximately $332,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in Veritex by 1.4% during the 3rd 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 during the last quarter. American Century Companies Inc. raised its position in shares of Veritex by 1.9% in the fourth quarter. American Century Companies Inc. now owns 789,909 shares of the financial services provider's stock valued at $21,454,000 after purchasing an additional 14,924 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Veritex by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 741,274 shares of the financial services provider's stock worth $20,133,000 after buying an additional 8,409 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Veritex by 13.0% during the 3rd quarter. Wellington Management Group LLP now owns 680,766 shares of the financial services provider's stock worth $17,918,000 after buying an additional 78,082 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Veritex by 24.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 631,372 shares of the financial services provider's stock valued at $16,618,000 after buying an additional 122,809 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors.

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Veritex Price Performance

Shares of NASDAQ VBTX traded down $1.60 during mid-day trading on Thursday, reaching $21.04. The company had a trading volume of 701,656 shares, compared to its average volume of 387,171. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 10.79 and a beta of 1.11. The business's 50-day simple moving average is $24.89 and its 200 day simple moving average is $26.68. Veritex Holdings, Inc. has a one year low of $18.74 and a one year high of $31.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.95.

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

Veritex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend was Friday, February 14th. Veritex's payout ratio is presently 41.03%.

Analysts Set New Price Targets

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

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.