LSV Asset Management Trims Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

LSV Asset Management trimmed its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 38.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 790,900 shares of the financial services provider's stock after selling 499,409 shares during the period. LSV Asset Management owned about 1.45% of Veritex worth $21,481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. USA Financial Formulas bought a new position in Veritex in the 4th quarter valued at about $32,000. R Squared Ltd bought a new position in shares of Veritex in the fourth quarter valued at approximately $45,000. GAMMA Investing LLC boosted its position in shares of 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 buying an additional 431 shares during the last quarter. KBC Group NV raised its position in Veritex by 73.5% in the 4th quarter. KBC Group NV now owns 3,826 shares of the financial services provider's stock valued at $104,000 after buying an additional 1,621 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in Veritex by 9.8% in the 4th quarter. Meeder Asset Management Inc. now owns 5,366 shares of the financial services provider's stock valued at $146,000 after buying an additional 481 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Stock Performance

Veritex stock traded up $0.44 during trading on Tuesday, hitting $21.56. The stock had a trading volume of 533,684 shares, compared to its average volume of 392,106. The stock's 50 day moving average is $24.52 and its two-hundred day moving average is $26.58. Veritex Holdings, Inc. has a 1 year low of $18.74 and a 1 year high of $31.62. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 11.06 and a beta of 1.11. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

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

Veritex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date was Friday, February 14th. Veritex's payout ratio is presently 41.03%.

Analysts Set New Price Targets

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