JPMorgan Chase & Co. Increases Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

JPMorgan Chase & Co. boosted its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 24.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 631,372 shares of the financial services provider's stock after buying an additional 122,809 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.16% of Veritex worth $16,618,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Basswood Capital Management L.L.C. purchased a new position in shares of Veritex during the 3rd quarter valued at $11,139,000. Assenagon Asset Management S.A. lifted its holdings in Veritex by 67.6% during the third quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider's stock valued at $21,248,000 after purchasing an additional 325,569 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Veritex by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,445,102 shares of the financial services provider's stock worth $51,566,000 after purchasing an additional 299,562 shares during the period. AQR Capital Management LLC boosted its position in Veritex by 66.5% during the second quarter. AQR Capital Management LLC now owns 424,106 shares of the financial services provider's stock worth $8,944,000 after purchasing an additional 169,448 shares during the period. Finally, Stieven Capital Advisors L.P. increased its stake in shares of Veritex by 39.0% in the third quarter. Stieven Capital Advisors L.P. now owns 561,636 shares of the financial services provider's stock worth $14,782,000 after purchasing an additional 157,571 shares in the last quarter. Hedge funds and other institutional investors own 88.31% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Veritex

In other news, CEO C Malcolm Holland III sold 12,777 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $27.69, for a total transaction of $353,795.13. Following the transaction, the chief executive officer now directly owns 224,132 shares in the company, valued at approximately $6,206,215.08. This represents a 5.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Sughrue sold 16,820 shares of the company's stock in a transaction that occurred on 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 sale, the director now directly 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.

Veritex Price Performance

NASDAQ:VBTX traded down $1.27 during trading hours on Friday, hitting $24.44. 495,822 shares of the company's stock traded hands, compared to its average volume of 442,287. Veritex Holdings, Inc. has a 52 week low of $18.08 and a 52 week high of $31.62. The business's fifty day simple moving average is $28.69 and its two-hundred day simple moving average is $25.84. 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 has a market cap of $1.33 billion, a P/E ratio of 15.67 and a beta of 1.38.

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

Veritex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.20 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 3.27%. Veritex's dividend payout ratio is presently 51.28%.

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.