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

Wellington Management Group LLP increased its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX - Free Report) by 13.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 680,766 shares of the financial services provider's stock after purchasing an additional 78,082 shares during the period. Wellington Management Group LLP owned 1.25% of Veritex worth $17,918,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VBTX. Sippican Capital Advisors lifted its holdings in shares of Veritex by 0.4% in the third quarter. Sippican Capital Advisors now owns 99,230 shares of the financial services provider's stock worth $2,612,000 after buying an additional 400 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Veritex by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the financial services provider's stock worth $578,000 after purchasing an additional 500 shares in the last quarter. Point72 DIFC Ltd lifted its stake in Veritex by 16.5% in the 2nd quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider's stock worth $122,000 after purchasing an additional 816 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Veritex during the 2nd quarter valued at about $25,000. Finally, Harbor Capital Advisors Inc. grew its position in shares of Veritex by 9.0% during the third quarter. Harbor Capital Advisors Inc. now owns 16,957 shares of the financial services provider's stock valued at $446,000 after purchasing an additional 1,405 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors.

Veritex Trading Down 0.4 %

VBTX traded down $0.11 during trading on Friday, reaching $29.64. The company had a trading volume of 163,598 shares, compared to its average volume of 398,816. 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 52 week low of $18.08 and a 52 week high of $31.62. The stock has a market cap of $1.61 billion, a P/E ratio of 19.00 and a beta of 1.38. The business has a 50 day simple moving average of $28.57 and a 200-day simple moving average of $24.82.

Veritex (NASDAQ:VBTX - Get Free Report) last released 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. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The firm had revenue of $113.17 million during the quarter, compared to analyst estimates of $110.22 million. During the same quarter last year, the business earned $0.60 EPS. The business's revenue was up 3.8% on a year-over-year basis. On average, equities analysts anticipate that Veritex Holdings, Inc. will post 2.17 EPS for the current fiscal year.

Veritex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.70%. Veritex's dividend payout ratio is 51.28%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VBTX. StockNews.com upgraded Veritex from a "sell" rating to a "hold" rating in a research report on Wednesday, October 30th. DA Davidson raised their target price on shares of Veritex from $30.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods downgraded shares of Veritex from an "outperform" rating to a "market perform" rating in a research note on Thursday, October 24th. Piper Sandler lifted 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. Finally, Raymond James upgraded shares of Veritex from a "market perform" rating to a "strong-buy" rating and set a $30.00 target price on the stock in a report on Tuesday, September 17th. Three research 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 company. Based on data from MarketBeat, Veritex has an average rating of "Moderate Buy" and an average price target of $29.40.

Insider Transactions at Veritex

In other news, CEO C Malcolm Holland III sold 12,777 shares of the company's stock in a transaction dated Monday, October 28th. The shares were 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. This represents a 5.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, the director now owns 62,643 shares of the company's stock, valued at $1,894,950.75. The trade was a 21.17 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.60% of the company's stock.

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.