Assenagon Asset Management S.A. Sells 84,559 Shares of Veritex Holdings, Inc. (NASDAQ:VBTX)

Assenagon Asset Management S.A. decreased its position in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 14.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 481,725 shares of the financial services provider's stock after selling 84,559 shares during the quarter. Assenagon Asset Management S.A. owned 0.88% of Veritex worth $10,160,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Kennedy Capital Management LLC bought a new position in Veritex in the first quarter worth about $9,139,000. Mendon Capital Advisors Corp bought a new stake in shares of Veritex in the 4th quarter worth approximately $8,144,000. Dimensional Fund Advisors LP boosted its position in Veritex by 19.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,853,774 shares of the financial services provider's stock valued at $43,139,000 after purchasing an additional 305,980 shares during the period. First Trust Advisors LP grew its stake in Veritex by 23.2% during the 4th quarter. First Trust Advisors LP now owns 1,303,041 shares of the financial services provider's stock worth $30,322,000 after buying an additional 245,133 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in Veritex by 767.5% in the fourth quarter. Hsbc Holdings PLC now owns 277,041 shares of the financial services provider's stock worth $6,548,000 after buying an additional 245,106 shares during the period. 88.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VBTX. Piper Sandler upped their price target on shares of Veritex from $26.00 to $27.00 and gave the stock an "overweight" rating in a research report on Thursday, July 25th. StockNews.com upgraded shares of Veritex from a "sell" rating to a "hold" rating in a research note on Wednesday, May 29th. DA Davidson boosted their price objective on Veritex from $27.00 to $29.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. Finally, Stephens raised their target price on Veritex from $24.00 to $27.00 and gave the company an "equal weight" rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $27.50.

Veritex Price Performance

Shares of Veritex stock traded up $0.15 on Friday, hitting $22.98. The company had a trading volume of 177,547 shares, compared to its average volume of 409,064. Veritex Holdings, Inc. has a 52 week low of $15.93 and a 52 week high of $25.84. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $1.25 billion, a PE ratio of 13.36 and a beta of 1.38. The business has a 50-day simple moving average of $21.90 and a 200-day simple moving average of $20.75.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.01). The firm had revenue of $106.81 million for the quarter, compared to the consensus estimate of $108.39 million. Veritex had a net margin of 11.52% and a return on equity of 7.97%. The business's revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 earnings per share. Research analysts expect that Veritex Holdings, Inc. will post 2.14 EPS for the current fiscal year.

Veritex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Friday, August 9th. Veritex's payout ratio is 46.51%.

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.