Veritex Holdings, Inc. (NASDAQ:VBTX) Stake Boosted by Verition Fund Management LLC

Verition Fund Management LLC lifted its stake in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 748.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,249 shares of the financial services provider's stock after purchasing an additional 110,480 shares during the period. Verition Fund Management LLC owned about 0.23% of Veritex worth $3,297,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its stake in shares of Veritex by 37.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 56,559 shares of the financial services provider's stock worth $1,489,000 after purchasing an additional 15,403 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Veritex by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 732,865 shares of the financial services provider's stock valued at $19,289,000 after acquiring an additional 12,286 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Veritex by 16.9% during the third quarter. Intech Investment Management LLC now owns 25,391 shares of the financial services provider's stock worth $668,000 after purchasing an additional 3,671 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Veritex by 319.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 4,885 shares of the financial services provider's stock valued at $129,000 after purchasing an additional 3,720 shares during the last quarter. Finally, LMR Partners LLP purchased a new stake in Veritex in the third quarter valued at about $276,000. 88.31% of the stock is currently owned by institutional investors.

Veritex Price Performance

VBTX traded up $0.27 during trading on Thursday, hitting $30.55. The company's stock had a trading volume of 167,603 shares, compared to its average volume of 400,164. Veritex Holdings, Inc. has a twelve month low of $18.08 and a twelve month high of $31.62. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 19.41 and a beta of 1.38. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The business's fifty day simple moving average is $27.95 and its 200 day simple moving average is $24.41.

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

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Friday, November 8th. Veritex's dividend payout ratio is presently 51.28%.

Insider Buying and Selling

In other Veritex news, Director John Sughrue sold 16,820 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.25, for a total value of $508,805.00. Following the transaction, the director now directly owns 62,643 shares in the company, valued at $1,894,950.75. This represents a 21.17 % decrease in their ownership of the stock. 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 firm's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $27.69, for a total value 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. The trade was a 5.39 % decrease in their position. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on VBTX. Keefe, Bruyette & Woods downgraded shares of Veritex from an "outperform" rating to a "market perform" rating in a research report on Thursday, October 24th. Piper Sandler increased their price objective on Veritex from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. StockNews.com upgraded shares of Veritex from a "sell" rating to a "hold" rating in a research note on Wednesday, October 30th. Raymond James upgraded shares of Veritex from a "market perform" rating to a "strong-buy" rating and set a $30.00 price objective on the stock in a research note 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 research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Veritex currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.40.

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.