Public Sector Pension Investment Board Raises Stake in Veritex Holdings, Inc. (NASDAQ:VBTX)

Public Sector Pension Investment Board increased its holdings in Veritex Holdings, Inc. (NASDAQ:VBTX) by 6.5% during the second quarter, Holdings Channel.com reports. The firm owned 120,014 shares of the financial services provider’s stock after acquiring an additional 7,290 shares during the quarter. Public Sector Pension Investment Board’s holdings in Veritex were worth $2,531,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in Veritex during the 2nd quarter valued at $25,000. Fidelis Capital Partners LLC purchased a new position in shares of Veritex during the first quarter valued at about $29,000. CWM LLC grew its holdings in shares of Veritex by 1,302.9% during the 2nd quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 3,101 shares during the period. TFO Wealth Partners LLC grew its stake in Veritex by 363,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 3,636 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 3,635 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Veritex in the 1st quarter worth about $177,000. Hedge funds and other institutional investors own 88.31% of the company’s stock.

Wall Street Analysts Forecast Growth

VBTX has been the subject of several analyst reports. Piper Sandler raised their price target on Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Stephens lifted their target price on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. DA Davidson reiterated a “buy” rating and set a $29.00 price target on shares of Veritex in a report on Wednesday, August 28th. Finally, Raymond James raised Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a report on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Veritex Trading Down 0.5 %

NASDAQ:VBTX opened at $25.81 on Monday. The business has a fifty day moving average price of $24.13 and a 200-day moving average price of $21.72. Veritex Holdings, Inc. has a one year low of $15.93 and a one year high of $26.72. 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 capitalization of $1.41 billion, a price-to-earnings ratio of 15.01 and a beta of 1.37.

Veritex (NASDAQ:VBTX) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). The firm had revenue of $106.81 million during the quarter, compared to analysts’ expectations of $108.39 million. Veritex had a return on equity of 7.97% and a net margin of 11.52%. The company’s revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 earnings per share. Sell-side analysts forecast that Veritex Holdings, Inc. will post 2.14 EPS for the current year.

Veritex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.10%. The ex-dividend date was Friday, August 9th. Veritex’s dividend payout ratio is currently 46.51%.

Veritex 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.