State Street Corp Has $63.51 Million Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

State Street Corp trimmed its position in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 5.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,413,109 shares of the financial services provider's stock after selling 127,099 shares during the quarter. State Street Corp owned approximately 4.43% of Veritex worth $63,513,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in VBTX. Basswood Capital Management L.L.C. purchased a new position in shares of Veritex during the third quarter valued at $11,139,000. F M Investments LLC bought a new position in Veritex during the second quarter valued at about $8,483,000. Assenagon Asset Management S.A. lifted its position in shares of Veritex by 67.6% in the third quarter. Assenagon Asset Management S.A. now owns 807,294 shares of the financial services provider's stock worth $21,248,000 after buying an additional 325,569 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Veritex by 14.0% in 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 buying an additional 299,562 shares during the last quarter. Finally, Great Lakes Advisors LLC acquired a new position in shares of Veritex during the 2nd quarter valued at about $3,908,000. 88.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John Sughrue sold 16,820 shares of Veritex stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.25, for a total transaction of $508,805.00. Following the completion of the transaction, the director now directly owns 62,643 shares of the company's stock, valued at $1,894,950.75. This trade represents a 21.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO C Malcolm Holland III sold 12,777 shares of the business's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $27.69, for a total value of $353,795.13. Following the completion of the transaction, the chief executive officer now directly owns 224,132 shares in the company, valued at $6,206,215.08. The trade was a 5.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VBTX. StockNews.com upgraded Veritex from a "sell" rating to a "hold" rating in a report on Wednesday, October 30th. Piper Sandler boosted their price objective 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 research note on Thursday, October 24th. Raymond James raised shares of Veritex from a "market perform" rating to a "strong-buy" rating and set a $30.00 target price for the company in a research report on Tuesday, September 17th. Finally, DA Davidson upped their price target on shares of Veritex from $30.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $29.40.

Veritex Stock Performance

Veritex stock traded down $0.40 during trading hours on Thursday, hitting $26.67. The stock had a trading volume of 427,274 shares, compared to its average volume of 398,047. The company has a 50-day moving average of $28.78 and a two-hundred day moving average of $25.03. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. Veritex Holdings, Inc. has a fifty-two week low of $18.08 and a fifty-two week high of $31.62. The company has a market cap of $1.45 billion, a PE ratio of 17.10 and a beta of 1.38.

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

Veritex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Friday, November 8th. Veritex's dividend payout ratio (DPR) 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.