Wellington Management Group LLP Trims Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

Wellington Management Group LLP cut its stake in shares of Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 606,949 shares of the financial services provider's stock after selling 73,817 shares during the quarter. Wellington Management Group LLP owned approximately 1.11% of Veritex worth $16,485,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. USA Financial Formulas acquired a new stake in Veritex during the 4th quarter worth approximately $32,000. R Squared Ltd purchased a new position in Veritex in the 4th quarter valued at approximately $45,000. GAMMA Investing LLC raised its stake in shares of Veritex by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 3,360 shares of the financial services provider's stock worth $91,000 after buying an additional 431 shares during the last quarter. KBC Group NV boosted its stake in shares of Veritex by 73.5% during the fourth quarter. KBC Group NV now owns 3,826 shares of the financial services provider's stock valued at $104,000 after acquiring an additional 1,621 shares during the last quarter. Finally, Bailard Inc. acquired a new position in Veritex in the fourth quarter valued at $215,000. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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Veritex Trading Up 0.6 %

NASDAQ VBTX traded up $0.13 during trading on Monday, reaching $20.90. 42,398 shares of the stock traded hands, compared to its average volume of 389,311. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 10.74 and a beta of 1.11. Veritex Holdings, Inc. has a fifty-two week low of $18.74 and a fifty-two week high of $31.62. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock's 50-day moving average price is $24.77 and its 200 day moving average price is $26.65.

Veritex (NASDAQ:VBTX - Get Free Report) last issued its quarterly earnings results 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%. Analysts predict that Veritex Holdings, Inc. will post 2.26 EPS for the current year.

Veritex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.80 annualized dividend and a dividend yield of 3.83%. Veritex's dividend payout ratio (DPR) is presently 41.03%.

Veritex Company 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.