Veritex Holdings, Inc. (NASDAQ:VBTX) Shares Acquired by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp grew its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 31.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,391 shares of the financial services provider’s stock after purchasing an additional 14,835 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.11% of Veritex worth $1,316,000 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. Vanguard Group Inc. raised its stake in Veritex by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,795,336 shares of the financial services provider’s stock worth $77,766,000 after acquiring an additional 23,222 shares in the last quarter. Victory Capital Management Inc. raised its stake in Veritex by 1.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,968,608 shares of the financial services provider’s stock worth $41,518,000 after acquiring an additional 37,617 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Veritex by 19.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,853,774 shares of the financial services provider’s stock worth $43,139,000 after acquiring an additional 305,980 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in Veritex by 16.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock worth $34,193,000 after acquiring an additional 235,154 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Veritex by 23.2% during the 4th quarter. First Trust Advisors LP now owns 1,303,041 shares of the financial services provider’s stock worth $30,322,000 after purchasing an additional 245,133 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Veritex Stock Performance

NASDAQ:VBTX opened at $26.48 on Friday. The firm has a 50 day simple moving average of $23.84 and a 200-day simple moving average of $21.45. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $1.44 billion, a PE ratio of 15.40 and a beta of 1.37. Veritex Holdings, Inc. has a 1-year low of $15.93 and a 1-year high of $26.72.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). Veritex had a net margin of 11.52% and a return on equity of 7.97%. The firm had revenue of $106.81 million during the quarter, compared to analyst estimates of $108.39 million. During the same period in the prior year, the firm earned $0.64 EPS. The business’s quarterly revenue was down 6.7% on a year-over-year basis. On average, equities analysts expect that Veritex Holdings, Inc. will post 2.14 EPS for the current year.

Veritex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.80 annualized dividend and a yield of 3.02%. Veritex’s dividend payout ratio is currently 46.51%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VBTX. Piper Sandler raised their price objective on shares of Veritex from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. DA Davidson reaffirmed a “buy” rating and issued a $29.00 target price on shares of Veritex in a report on Wednesday, August 28th. Stephens lifted their target price on shares of Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. StockNews.com raised shares of Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, Raymond James raised 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 report on Tuesday. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

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.